Icelandic Watchmaker Reclaims Loot Skip to content

Icelandic Watchmaker Reclaims Loot

Watchmaker Frank Michelsen whose store on Laugavegur in Reykjavík was robbed on October 17 has now reclaimed the loot. He intends to sell the 49 watches that were taken along with 12 other valuable ones that were damaged in the robbery at a lower price.


Laugavegur. Photo by Páll Stefánsson.

“I’m perhaps not talking about a sale, but let’s say that they will be sold at a discount price,” Michelsen told Morgunbladid of the watches, on the grounds that they now have slight exterior flaws because of the robbery.

The original damages caused to Michelsen, an estimation of the watches’ value and repair costs to the store’s interior, amount to more than ISK 60 million (USD 513,000, EUR 378,000) and it is uncertain how much of that amount the sale of the watches that were stolen and the store’s insurance will cover.

The three so-called “Rolex Raiders” escaped the country and were listed as wanted by Interpol. Two of the suspects were arrested in Poland last week but later released as an agreement between Iceland and Poland on the extradition of the countries’ own citizens is not at hand.

Minister of the Interior Ögmundur Jónasson intends to change this by submitting a bill to that regard shortly. It will also be requested that the Polish police arrest and extradite the suspects, or that they be put on trial in Poland.

The perpetrators’ alleged accomplice, who was supposed to bring the loot out of the country, was arrested in Iceland last month. His custody sentence expired today but Assistant Police Chief Jón H.B. Snorrason said that an extension would be requested.

Michelsen said he is very satisfied with the work of the Icelandic police but equally disappointed that two of the suspects in the armed robbery were released in Poland.

Click here to read more about this story.


Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

– From 3€ per month

Share article


Recommended Posts