Abstract: A wireless valuables monitoring device, with proximity sensing and automatic arming and disarming features two way communication between the base unit affixed to the valuable and the remote unit carried by the owner. The base unit continuously monitors the position of the remote unit relative to itself to determine when the owner has left the immediate vicinity of the valuable. The base unit alerts the owner upon disturbance of the protected valuable and allows the user to screen for false alarms and be notified of an occurring theft attempt. A soft power switch enables the base unit to be powered off by the unique remote unit to which it belongs.