French royal jewels stolen from the Louvre worth more than $102 million

The eight pieces of French royal jewels stolen from the Louvre that are still missing are worth more than $102 million, though the thieves will have a hard time netting that amount, according to prosecutors.

Thieves broke into the Louvre on Sunday and took nine historical pieces of jewelry that previously belonged to French royalty.

In addition to a crown found near the scene of the crime, there are two diadems, an emerald earring and necklace set, a sapphire earring-and-necklace set, and two brooches still missing.

Parisian head prosecutor Laure Beccuau told French radio network RTL that the damage is economic but is “in no way comparable to the historical damage caused by this theft.”

Ms. Beccuau said that the eight missing pieces of jewelry are worth 88 million euros (over $102 million), though the specific pieces of jewelry are so well known that they would be impossible to fence.

But, she said, the criminals would not be able to make that much money if they had “the very bad idea of unscrewing these jewels, melting them down” for raw materials.

The missing pieces include thousands of diamonds, sapphires, emeralds and other precious gems and metals, according to Interpol, which has added the eight pieces of royal jewelry to its database of stolen art.

If the pieces cannot be found, the French government will take the financial hit; the stolen royal jewels were not covered by private insurance.

“The State is its own insurer when the works of national museums are in their usual place of conservation, taking into account the cost of taking out insurance when the claims rate is low,” the French Ministry of Culture told Le Parisien.

The suspects got into the Louvre using a vehicle-mounted ladder before cutting into the display cases.

French Cultural Minister Rachida Dati told lawmakers Tuesday that “the Louvre museum’s security apparatus did not fail, that is a fact,” and that its cameras were working at the time.

The Louvre was closed Monday after the theft and is normally closed on Tuesdays. It is expected to reopen Wednesday.