Whoever took off with the millions of dollars worth of timepieces from Cortina Watch will have a problem offloading them in Singapore.

Second-hand watch dealers say there are measures in place to reduce the chances of stolen watches being resold to them.

Mr Alfred Png, owner of Png Watch Dealer, said that all sellers have to provide their particulars, such as their identity card numbers and addresses, when they try to sell a watch, so that they can be tracked down should any problems arise.

“We also keep the watches for three days before we sell them so that owners have time to notify the police if they are stolen,” he added.

Mr Alex Lim, branch manager of Peng Kwee Watches & Jewellery, one of the largest second-hand watch retailers, said that shops in Singapore work closely with the police to check for stolen watches through their serial numbers.

Every timepiece has a unique serial number engraved at the back or side of the watch face. The serial number gives the year of manufacture and may be traced back to the country where it was bought.

When the police receive information on stolen watches, they may disseminate the serial numbers and descriptions to dealers.

In December 2007, laws in Singapore were also tightened to make it harder for stolen goods to be sold.

Under the Secondhand Goods Dealers Act, second-hand dealers have to be registered with the police and maintain records of transactions. They also face harsher penalties if they flout the rules.

Given the safeguards and the value of the loot from the Cortina theft, former police officer Lionel De Souza believes it is unlikely that the watches stolen would be resold here.

“Singapore is small so it would be easier to detect the stolen goods. I believe the watches would have been taken out of the country, which will makes them harder to trace,” said Mr De Souza, who is now a private investigator.

Still, despite the safeguards, there is a chance that the loot may fall through the cracks.

Industry players said that if owners fail to notify the police or shops about the missing goods, they will not be able to identify a stolen watch when it is brought in.

At least one watch dealer said he has bought a stolen watch without knowing it.

Mr Alvin Lye, owner of Monster Time, which deals in luxury brands, once bought a Rolex watch only to find out two days later from the police that it had been stolen.

“We may take precautions, but at the end of the day, the product doesn’t come with a sign saying ‘stolen’ on it,” he said.

This article was first published in The Straits Times on Jan 4, 2009.

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