Recovered Reykjavik raid Rolexes ready for retail

Frank Michelsen, the Reykjavik watchmaker and retailer whose shop was attacked in an armed robbery last month, says that demand for the recovered stolen Rolex watches is sky high.

Frank Michelsen, who owns and runs the Michelsen watch shop on Laugavegur in Reykjavik, believes he will this weekend be able to start selling the recovered stolen Rolexes which were taken by armed Polish raiders in October.

“It is classified as a large robbery and we are in contract talks with the insurance company over how best to resolve the situation because it will be a precedent case,” Michelsen told

This week was one month after the raid took place in which 49 watches were stolen from his shop and his staff were forced to look down the barrel of the raiders’ gun.

“It was first yesterday evening when the astonishing time of the robbery came to me. The robbery happened on 17.10 at exactly 10.17. I find that a really strange coincidence,” Michelsen says. Indeed, although 17.10 at 10.17 is strange in Europe, under the American date system it would have been written 10.17 at 10.17. Even stranger…

Frank Michelsen says he is aware that the watches recovered from a stolen British-registered car are in high demand despite, or perhaps because of, their varying states of damage.

“There is an unbelievable amount of interest. There are people asking me if they can get it certified that the watches they are buying were from the raid and they think it will increase their value. But the watches will be sold at lower prices, individually decided based on how damaged they are. Each one will have to be assessed individually,” the watchmaker says.

He says he has done his best to put the robbery behind him and is thankful that nobody was hurt, or even killed, when the three assailants robbed his shop at 10.17 on the 17th of the 10th.