Cops probing the final hours of the One Direction Star’s life suspect the expensive timepiece has been stolen.

Liam was reportedly wearing the watch at least two to three hours before he plunged from the third floor balcony at his hotel, Argentinian Daily La Nacion reports.

But when his body was inspected by cops, Liam was no longer wearing the Rolex.

Police sources told the paper: “We know, from images that were analyzed, that Payne was wearing a Rolex on the day of his death.

“He was wearing it in one of his hands and he had it for at least two to three hours before he jumped into the void.

“We looked for him in the room at the CasaSur hotel where he was staying and we couldn’t find him.”

Cops also did not subsequently discover the watch during raids on nine homes involved with those under investigation for his death.

A source said: “The watch was searched for at the homes of the people accused of the crimes of abandonment of a person and supply and facilitation of narcotics and at the homes of the two women who were with Payne in the room the afternoon of his death.”

Now they will turn their attention back to the hotel room Liam was in just before he died as cops conduct a second inspection.

In the investigation, Liam’s room has been sealed off, plus 800 hours of security camera footage has been searched, and 20 witnesses questioned.

Three people have been charged in connection with Liam’s death including a hotel worker and a suspected drug dealer.

The third charged is believed to be someone close to Liam, Argentina’s public prosecutor said.

A post-mortem concluded Liam’s death was caused by “multiple trauma” and “internal and external haemorrhage” after the fall.

Prosecutors said there was nothing to indicate any third party was involved in the death.

They also ruled out “self-harm”, according to a forensic psychiatric report.

This comes after the singer’s body was returned home earlier this week.

The star’s dad Geoff was also on the flight into Heathrow — with the body then transferred to Liam’s home town of Wolverhampton.

His funeral has been arranged and is expected to take place in the West Midlands city within ten days.

A source said: “Plans are in motion for Liam’s funeral and a date has been set.

“His family are determined to keep things as private as ­possible to allow them to grieve but also understand the global interest.”

Liam’s girlfriend Kate Cassidy has revealed the pair planned to marry next year.

In a tribute to her boyfriend following his death, she said “you’re my guardian angel now”.

The influencer, who dated Liam for two years before his death, shared photos of the couple on Instagram which included a note from Liam.

One photo showed the handwritten note from Liam, in which he wrote: “Me and Kate to marry within a year / engaged and together forever”.