Louvre Heist Jewels Hard to Sell, Expert Says Global Awareness of Theft

The recent Louvre heist has captured global attention, with thieves stealing over $100 million in jewels. Experts warn that selling the stolen items will be extremely difficult due to their notoriety and worldwide recognition. High-profile thefts like this make it nearly impossible for criminals to profit, as collectors and buyers are cautious and authorities are on high alert. The robbery highlights both the audacity of the crime and the challenges faced by thieves attempting to fence famous, easily identifiable treasures.

The thieves who made off with priceless treasures from the Louvre are likely facing a tough road to profit from their loot. The French government estimates the stolen items, including a stunning sapphire necklace and a tiara once worn by royalty at roughly $102 million. Stephen Portier, a Paris-based gem expert, notes that this valuation only holds if the pieces remain intact.

If the criminals remove the jewels from their original settings to sell them individually, their worth would drop drastically, Portier explains. “Breaking them apart reduces their value by about 90%,” he adds.

Many in the jewelry world, including Portier, hope the police can recover the historic items undamaged, though he admits the odds are slim. With global attention on the heist, selling the pieces as-is is nearly impossible, and purchasing them would be illegal.

“The fine jewelry market is enormous,” Portier says, “but the network is tight. Everyone knows each other in this world.” He continues, “The entire planet knows about this robbery. Dealers will have images of every stolen piece. If someone tries to offer Louvre diamonds, they’ll ask tough questions and call the authorities.”

The Louvre likely keeps detailed records of each stone’s unique characteristics, from weight and color to tiny impurities, which act like the jewels’ DNA. Even smaller items, such as a brooch shaped like a bow adorned with hundreds of tiny diamonds, will be difficult for the thieves to sell.

Many of the stolen pieces are over 150 years old, cut in styles no longer common. While re-cutting could disguise them, it would shrink the stones and drastically reduce their value, according to Portier.

Among the stolen treasures is a magnificent diamond and pearl tiara. “Large, old pearls are easy to identify by shape and hue,” Portier says. Although there is a risky process called peeling that can alter a pearl’s surface using solvents like perfume or hairspray, it can backfire, revealing unattractive layers and diminishing value.

Given how difficult and low-profit selling these jewels would be, the question remains: why risk such a bold theft? “Good question,” Portier admits.

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Source: cbsnews‍