The French thieves were successful in stealing Kim Kardashian’s $4 million ring, but how much can they sell it for? To get some answers, HollywoodLife.com has reached out to a diamond expert for an EXCLUSIVE comment on the market worth of Kim’s sparkler.
Since it’s against the law for professional jewelers to purchase stolen gems, it’s going to be difficult for the French robbers to sell Kim Kardashian‘s, 35, gigantic diamond ring in exchange for money. “They will probably get about ten cents on the dollar from a fence since breaking it into smaller stones loses a lot of value,” Scott Selby, diamond expert and co-author of Flawless: Inside the Largest Diamond Heist in History, tells HollywoodLife.com EXCLUSIVELY, noting that smaller pieces are harder for police to trace. “Depending on how they cut and polish it, it might be worth about a third of its value as a whole stone.”
Sounds like selling the ring is going to be a long process, since the fence (a criminal who buys stolen property or jewelry) will eventually have to find a buyer who’s willing to accept illegal goods. The fence in turn acts as a middleman between the robber and the buyer, so there are many steps to go through until cash is rewarded. “They can take apart the ring and sell the precious metals and the smaller stones, but the hard part is selling the giant stone,” continues Scott. “It’s possible, but difficult, to find a buyer who is willing to take a diamond like that and hide it away.”
The Selfish author’s $4 million gift from Kanye West was stolen on Oct. 3 during Paris Fashion Week. Five masked men dressed in police attire barged into her apartment complex at 3AM and stole $11 million worth of jewelry. The reality star thankfully came out of the traumatic situation physically unhurt, and she’s now reunited with Kanye and her family in NYC. And yes, bodyguard Pascal Duvier is protectively watching her every move.
HollywoodLifers, do you think police will trace the ring before the robbers sell it?