TOKYO: Around 900 expensive watches worth over US$13 million are missing in Japan after a website renting them out collapsed and its owner fled to Dubai, according to local media reports.
The owners of the Rolexes and other expensive timepieces earned monthly deposit fees by lending them to Osaka-based Toke Match, which then rented them out to clients.
On January 31, Neo Reverse, the firm that operates Toke Match, announced the end of its service and offered to return all watches.
However, the owners of over 900 watches valued at 1.9 billion yen (US$12.6 million) have yet to be reunited with their property, according to the Asahi Shimbun daily and other media sources, citing a group of about 190 owners.
Some watches have even been discovered on an online auction site, causing owners to submit scores of complaints to police throughout Japan.
The auction site’s operator, Valuence Japan, told AFP that at least 20 of the timepieces it handled had serial numbers that matched those supplied to Toke Match.
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