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20 July 2019, 06:08 AM | #1 |
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Apparently there is no place safe for your watch.
Read this article, and the main complainant happened to have a watch collection.
https://www.nytimes.com/2019/07/19/b...box-theft.html Last edited by MILGAUSS88; 20 July 2019 at 06:09 AM.. Reason: ... |
20 July 2019, 06:20 AM | #2 |
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Exactly why I won’t keep anything of value in a safe deposit box.
I have it all buried in a field in Pennsylvania.
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20 July 2019, 06:23 AM | #3 |
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May not be insured either . . . .
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20 July 2019, 06:28 AM | #4 |
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If you don’t hold it, you don’t have it.
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20 July 2019, 06:31 AM | #5 |
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Interesting article.
A problem with regulating them is that the bank has no idea what is kept in the boxes which is part of the reason people have them. However the screw-ups that happened here were clearly theft and negligence after they had been inventoried by a third party. |
20 July 2019, 06:32 AM | #6 |
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that's exactly what I think. 🤔
bird in the hand is worth two in the bush.
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20 July 2019, 06:33 AM | #7 |
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Hmm, just putted all my watches and coins in a safebox today lol. Hopefully they won't drill my case open when i am on an holiday.
But yeah, as a former IT specialist i know nothing is 100% safe.
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20 July 2019, 06:36 AM | #8 |
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20 July 2019, 07:17 AM | #9 |
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This is crazy. It's such a shame to see this type of thing happens and is likely more common than expected. Insurance is key but doesn't really cover sentimental aspect, of coruse.
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20 July 2019, 08:13 AM | #10 | |
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Quote:
- Be sure the company sends you an email notification when you visit your box - Do a movie when you are in the private room which shows what goes into the box (or what goes out) - Use a paper with the date while you are filming (which can be compared with the notification email). - Also film the moment you are leaving the private room and when you lock the box together with the master key. - Stop filming when you are out of the safe zone - Always make copies of your invoices of whats inside the box If you so do all this and you are insured and something happens, then there is no doubt that the insurance company will not pay you. The main key in this story is that the company must send you a notification mail (or text) everytime you visit your box.
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20 July 2019, 08:24 AM | #11 | |
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A safe place for a watch? Why, you wear them. All of the time. Safest place is on your ankles, under your socks! |
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20 July 2019, 08:35 AM | #12 |
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After the thieves emptied out the boxes, on the way to their getaway van, they were robbed by a gang on Mopeds.
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Ain't much of a crime, whacking a surly bartender |
20 July 2019, 08:45 AM | #13 |
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One watch guy... always with me
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20 July 2019, 09:02 AM | #14 | ||
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Sound advice You'll have no issues doing this but it seems like a hassle. Albeit difficult, it's without a doubt worth doing though, especially after reading through that article. Quote:
I've never been more content with a smaller collection than I am now. More is always tempting but so many factors make it more of a hassle than a pleasure for me. |
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20 July 2019, 09:47 AM | #15 | |
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Thanks for the tip. I shall now stop digging in my backyard. Cheers |
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20 July 2019, 10:37 AM | #16 |
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There are some members here on the forum with heavy hitting watch collections worth big, big $$ that swear by using safe deposit boxes to keep their watches in! Would I? Heck no. If you can afford several hundred thousand $$ in watches, you certainly can afford to have a commercial grade safe bolted down in your humble abode.
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20 July 2019, 10:41 AM | #17 | |
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Quote:
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20 July 2019, 10:48 AM | #18 | |
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But damn you. I have a three hour drive tomorrow to check on my stash.
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20 July 2019, 10:50 AM | #19 |
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20 July 2019, 10:59 AM | #20 |
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“There’s always room for one more”.
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20 July 2019, 11:32 AM | #21 |
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Apparently there is no place safe for your watch.
Ummm...hate bring facts to bear and ruin many a good rant...
In reading the article, 33,000 incidents happen with safe deposit boxes each year. That’s spread across the 25,000,000 safe deposit boxes here in USA. Just 0.132% folks... And most of those 33,000 incidents are causes other than theft. “Every year, a few hundred customers report to the authorities that valuable items — art, memorabilia, diamonds, jewelry, rare coins, stacks of cash — have disappeared from their safe deposit boxes.” Even if we assume “a few hundred” was 900, then that’s 0.0036% - or 1 per approximately 28,000 box holders. What does the word safe mean? “Involving little or no risk of mishap, error, etc.” The only possible answer is a safe deposit box IS safe. Sent from my iPhone using Tapatalk Pro
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20 July 2019, 11:35 AM | #22 | |
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Indeed. Also, just because it’s in a safe doesn’t mean it shouldn’t be insured. Pay the 1% premium for the .0036% chance of loss anyways.
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20 July 2019, 11:48 AM | #23 |
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Yikes. Can’t trust no one. This is why we have stash houses
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20 July 2019, 09:25 PM | #24 |
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Who goes to the bank anymore
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20 July 2019, 10:10 PM | #25 |
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I am thinking this is the same math people use to justify buying lottery tickets.
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21 July 2019, 04:40 PM | #26 |
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21 July 2019, 07:00 PM | #27 |
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21 July 2019, 11:06 PM | #28 | |
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I’m with JM and I’m paying 1.25%. Although I just got a quote from State Farm and they were at 1% so I’ll probably switch. Just gotta get new appraisals.
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21 July 2019, 11:47 PM | #29 |
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Apparently there is no place safe for your watch.
Holy censorship! I posted here yesterday - I guess I sort of mentioned something in the post I shouldn’t have. I’ll have another go.
Why pay an insurer a premium, or a bank for a box when a security system, a safe, a German Shepherd and a solid form of self defense are available? Sent from my iPhone using Tapatalk |
21 July 2019, 11:57 PM | #30 |
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Exactly! A well built, at least 9 gauge thick steel construction, fire rated home safe bolted to the floor and the wall should be adequate protection. Then you dont have to drive to the bank every time you want to wear your watch. Also, all contents are covered by home owners insurance as well as a separate articles policy if need be.
I keep a safe at home. It has a 1.5 hour fire rating and would take a thief a good hour or two of grinding and torching to get in. In that time the silent alarms would give the local authorities plenty of time to respond if im not home.
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