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Sean Kingston was allegedly kidnapped over a jewelry dispute, and his disappearance now has LAPD on the search ..

TMZ reports,

Here’s what Sean says … he bought the watch from a jeweler and made payments to the tune of $185k, but didn’t pay the balance because he felt the watch wasn’t worth any more. The jeweler begged to differ and they had a number of arguments.

Sean told cops he and the jeweler met Tuesday at 1:50 AM at a downtown L.A. parking lot, to make a trade … he’d give the watch back and the jeweler would give him a watch worth a solid $185k. Yes, it sounds weird.

Sean says he got in the back of the jeweler’s car but instead of trading, the jeweler allegedly snatched Sean’s watch away and refused to give him another watch. Sean says he went nuts, demanded the watch

back and refused to get out of the car.