# Why steal millions of dollars of diamonds? **URL:** \ **Category:** Factual Questions\ **Created:** [August 1, 2013, 9:56am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066 "2013-08-01T09:56:06Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![HumanMonkeyGod](https://avatars.discourse-cdn.com/v4/letter/h/c67d28/32.png) [@HumanMonkeyGod](https://boards.straightdope.com/u/HumanMonkeyGod)\ **Post date:** [August 1, 2013, 9:56am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/1 "2013-08-01T09:56:06Z")
There was a big diamond heist in Europe recently, the second or third this year that I recall. Since diamonds have a pretty poor resale value, what’s the point? Why not go for a smaller heist of precious metal or cash? ---
**Author:** ![StJoan](https://avatars.discourse-cdn.com/v4/letter/s/bc79bd/32.png) [@StJoan](https://boards.straightdope.com/u/StJoan)\ **Post date:** [August 1, 2013, 10:01am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/2 "2013-08-01T10:01:05Z")
My guess is that the thieves did not know how the resale value of diamonds can be. ---
**Author:** ![the\_diego](https://avatars.discourse-cdn.com/v4/letter/t/7bcc69/32.png) [@the\_diego](https://boards.straightdope.com/u/the_diego)\ **Post date:** [August 1, 2013, 10:01am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/3 "2013-08-01T10:01:31Z")
Even if they have low resale value, that’s still a lot of Euros for every gram you’re holding. And they got it free so a pocketful will make you rich. ---
**Author:** ![Alley\_Dweller](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/alley_dweller/32/430_2.png) [@Alley\_Dweller](https://boards.straightdope.com/u/Alley_Dweller)\ **Post date:** [August 1, 2013, 10:11am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/4 "2013-08-01T10:11:38Z")
1. Someone who really liked those particular diamonds may have hired the thieves to do it. 2. They saw an opportunity and devised a suitable plan. There may not have been that much cash or precious metals that were as easily obtainable as far as they could determine. 3. Maybe they got a thrill out of this particular caper that a different caper could not match. 4. Even if the diamonds sell for just a fraction of the $136 million, that’s still not a bad payout for a day’s work. 5. We’re assuming it wasn’t some sort of inside job. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [August 1, 2013, 11:21am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/5 "2013-08-01T11:21:02Z")
> [@Alley\_Dweller](#): > > 1. Even if the diamonds sell for just a fraction of the $136 million, that’s still not a bad payout for a day’s work. This. A resale value of just ten cents on the dollar (just to pick an arbitrarily low payout) is still nearly $14M dollars. That is indeed a nice payout. ---
**Author:** ![Jackmannii](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jackmannii/32/311_2.png) [@Jackmannii](https://boards.straightdope.com/u/Jackmannii)\ **Post date:** [August 1, 2013, 12:11pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/6 "2013-08-01T12:11:31Z")
There aren’t many comparable shows where precious metals and cash are on display and easy to steal. ---
**Author:** ![clairobscur](https://avatars.discourse-cdn.com/v4/letter/c/839c29/32.png) [@clairobscur](https://boards.straightdope.com/u/clairobscur)\ **Post date:** [August 1, 2013, 12:39pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/7 "2013-08-01T12:39:43Z")
> [@HumanMonkeyGod](#): > > There was a big diamond heist in Europe recently, the second or third this year that I recall. Since diamonds have a pretty poor resale value, what’s the point? Small, ordinary diadmonds have a low resale value. Those stolen in Cannes some days ago were all exceptional stones that will still be extremely valuable once recut. ---
**Author:** ![Ravenman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/ravenman/32/2929_2.png) [@Ravenman](https://boards.straightdope.com/u/Ravenman)\ **Post date:** [August 1, 2013, 12:52pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/8 "2013-08-01T12:52:04Z")
CNN interviewed a former jewel thief the other day, and he said 20 cents on the dollar would be the expected take. He reported that all the jewels would fit in a fairly normal sized bag. Then consider that $25 million in $100 bills would weigh more than 500 pounds, or that $25 million in gold would weigh about half a ton. ---
**Author:** ![Sanity\_Challenged](https://avatars.discourse-cdn.com/v4/letter/s/9de053/32.png) [@Sanity\_Challenged](https://boards.straightdope.com/u/Sanity_Challenged)\ **Post date:** [August 1, 2013, 1:01pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/9 "2013-08-01T13:01:25Z")
Every good self-respecting villain knows that it takes a very rare, exceptional diamond stolen in a high-profile heist to focus the beam of an Orbital Death Ray. These thieves will soon dominate the entire planet - what’s the resale value on _that_?!? ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [August 1, 2013, 1:06pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/10 "2013-08-01T13:06:51Z")
> [@Sanity\_Challenged](#): > > Every good self-respecting villain knows that it takes a very rare, exceptional diamond stolen in a high-profile heist to focus the beam of an Orbital Death Ray. These thieves will soon dominate the entire planet - what’s the resale value on _that_?!? One MILLION dollars! _pinky in corner of mouth_ ---
**Author:** ![dracoi](https://avatars.discourse-cdn.com/v4/letter/d/90db22/32.png) [@dracoi](https://boards.straightdope.com/u/dracoi)\ **Post date:** [August 1, 2013, 4:14pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/11 "2013-08-01T16:14:25Z")
A CNN interview (perhaps the same one Ravenman mentions) also discussed the Pink Panther crime ring and the fact that they specialize in diamond theft. Apparently, they have someone on the inside of the diamond biz who can produce the necessary paperwork to get the diamond back into the legal market and so gems are a preferred target for their thefts. 20% is probably still all they get, since the diamonds go into the wholesale market, but thieves never get retail value on anything they steal. Even $100 million in cash won’t be worth face value after the serial numbers are published and you find someone who can help launder that kind of money. ---
**Author:** ![bob\_2](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bob_2/32/3341_2.png) [@bob\_2](https://boards.straightdope.com/u/bob_2)\ **Post date:** [August 1, 2013, 4:21pm UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/12 "2013-08-01T16:21:49Z")
136 million (was it Euros or Pounds?) was the supposed retail value. This would be many times the wholesale value and many many time the ‘hot’ market value. The thieves would also have to find a bent cutter (not cheap) to disguise the memorable stones. It is still a profitable venture but I think 10% is overoptimistic. ---
**Author:** ![the\_O](https://avatars.discourse-cdn.com/v4/letter/t/eada6e/32.png) [@the\_O](https://boards.straightdope.com/u/the_O)\ **Post date:** [August 2, 2013, 1:54am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/13 "2013-08-02T01:54:17Z")
I used to get 15% on any caper over $20 million(US.) This was not that long ago, 4 - 5 years. Don’t know what the going rate is now tho. And I insisted on 20% of any robbery over $100 million(US.) ---
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [August 2, 2013, 2:13am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/14 "2013-08-02T02:13:21Z")
I suppose because no one was going to just give it to them ---
**Author:** ![TimeWinder](https://avatars.discourse-cdn.com/v4/letter/t/bcef8e/32.png) [@TimeWinder](https://boards.straightdope.com/u/TimeWinder)\ **Post date:** [August 2, 2013, 2:24am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/15 "2013-08-02T02:24:53Z")
I’ve also heard that “jewel thief” and particularly “diamond thief” have a high “street cred” among criminals. It’s the other end of the crime prestige snobbery scale from, say, “child molester.” ---
**Author:** ![coremelt](https://avatars.discourse-cdn.com/v4/letter/c/4491bb/32.png) [@coremelt](https://boards.straightdope.com/u/coremelt)\ **Post date:** [August 2, 2013, 2:30am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/16 "2013-08-02T02:30:52Z")
From the article here: > **[HuffPost - Breaking News, U.S. and World News](https://www.huffpost.com/?err_code=404&err_url=http%3A%2F%2Fwww.huffingtonpost.com%2F2013%2F07%2F29%2Fcannes-diamond-heist_n_3670762.html)** > > Read the latest headlines, news stories, and opinion from Politics, Entertainment, Life, Perspectives, and more. It sounds like the show was just being setup and it was before it was open to the public. He took one briefcase and one box and got $136 million of jewels and it was done in one minute. Presumably once the jewels were spread out into individual display cases it would have taken a lot longer to rob them. Sounds like inside knowledge knowing exactly when the jewels would arrive onsite and before they were put into display cases. ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [August 2, 2013, 2:38am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/17 "2013-08-02T02:38:34Z")
The thief probably has a girlfriend who believes: “Diamonds Are a Girl’s Best Friend” ---
**Author:** ![DataX](https://avatars.discourse-cdn.com/v4/letter/d/e99b99/32.png) [@DataX](https://boards.straightdope.com/u/DataX)\ **Post date:** [August 2, 2013, 2:41am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/18 "2013-08-02T02:41:26Z")
> [@TimeWinder](#): > > I’ve also heard that “jewel thief” and particularly “diamond thief” have a high “street cred” among criminals. It’s the other end of the crime prestige snobbery scale from, say, “child molester.” Most Jewel thieves are diamond thieves. Diamonds and gold are very easy to move - other things - like watches - have serial numbers (diamonds do sometimes - but not usually). Rubies, sapphires, and emeralds have no really agreed upon grading system. You (anyone) can pop diamonds out of their settings - which makes them very hard to recognize without serial numbers or map of their inclusions/flaws. You can’t detect them on metal detectors and they are pretty easy to hide/smuggle. What’s not to like? Other than counterfeiter - I can’t think of a crime I’d consider more “prestigious” than jewel thief. Maybe art thief. ---
**Author:** ![even\_sven](https://avatars.discourse-cdn.com/v4/letter/e/dfb087/32.png) [@even\_sven](https://boards.straightdope.com/u/even_sven)\ **Post date:** [August 2, 2013, 3:10am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/19 "2013-08-02T03:10:59Z")
Portability is huge. Diamonds are easy to hide, and easy to transport. ---
**Author:** ![Try2B\_Comprehensive](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/try2b_comprehensive/32/65_2.png) [@Try2B\_Comprehensive](https://boards.straightdope.com/u/Try2B_Comprehensive)\ **Post date:** [August 2, 2013, 5:56am UTC](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066/20 "2013-08-02T05:56:40Z")
> [@Ravenman](#): > > CNN interviewed a former jewel thief the other day, and he said 20 cents on the dollar would be the expected take. He reported that all the jewels would fit in a fairly normal sized bag. > > Then consider that $25 million in $100 bills would weigh more than 500 pounds, or that $25 million in gold would weigh about half a ton. Yah well if it was $25 million, one wouldn’t think a half a ton would be a terrible obstacle. Rent a van? Hire a couple of guys? I disapprove of stealing of course. [Next page](https://boards.straightdope.com/t/why-steal-millions-of-dollars-of-diamonds/665066.md?page=2)