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I think that two things are true at the same time here:
1, Watch crime is up
2, You are still statistically not likely to be robbed
Some of the comments make it seem like it's a prison yard on Bond Street with people testing you as soon as you enter. Tens of millions worth of watches pass through the city and the street daily without being stolen. THAT BEING SAID, it is not as safe as it used to be so you have a higher chance than 20 years ago of being robbed of your belongings. Items stolen from Hotel rooms are not as sensational as gun point crime so it gets less publicity. Exercise common sense and you will eliminate 99.9% of the problems. If you feel unsure err on the side of caution, also...get insurance!
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