Stunning Heist Unfolds as $13 Million Worth of Luxury Watches Vanish After Rental Service Collapse

In a staggering turn of events, Tokyo reports the disappearance of approximately 900 luxury watches, valued close to $13 million, following the collapse of a rental service. The service, Toke Match, based in Osaka, allowed watch owners to earn by lending their high-end timepieces, including coveted Rolexes, to customers. However, the operation’s abrupt cessation and the owner’s flight to Dubai have left the watch owners in limbo.

Despite Neo Reverse, the parent company behind Toke Match, promising the return of all timepieces by January 31, around 190 owners claim their watches, cumulatively worth about 1.9 billion yen, remain unaccounted for. Reports from the Asahi Shimbun daily highlight the growing frustration among owners, some of whom have spotted their luxury items on online auction platforms, leading to a flurry of police reports across the country.

Valuence Japan, the auction site implicated, acknowledged the issue, confirming that at least 20 watches in their possession matched the serial numbers of those loaned to Toke Match. Measures were promptly taken to halt further sales to prevent potential resale damages.

This incident shines a light on Japan’s burgeoning “sharing economy,” which has seen significant growth, reaching a market size of 2.6 trillion yen in the previous fiscal year. Neo Reverse’s membership in the Sharing Economy Association of Japan was revoked following the debacle.

Authorities have escalated their response, with Tokyo police issuing an arrest warrant for Takazumi Kominato, the 42-year-old owner of Toke Match, on embezzlement charges related to a Rolex watch. As Kominato has already fled to Dubai, efforts are underway to place him on an international wanted list, intensifying the search for answers in this audacious luxury watch heist.