UPDATE: Diamond thieves stolen jewellery 'worth up to a BILLION EUROS' from German museum, found to be uninsured

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Artfldgr
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UPDATE: Diamond thieves stolen jewellery 'worth up to a BILLION EUROS' from German museum, found to be uninsured

Post by Artfldgr »

Diamond thieves steal jewellery 'worth up to a BILLION EUROS' from German museum in possibly world's biggest heist after making off with three 'priceless' sets commissioned by 18th century royalty

The Green Vault in Dresden was targeted by thieves early on Monday morning
At least two burglars broke in through a window and smashed open a cabinet
They stole jewellery sets commissioned by the 18th-century ruler of Saxony
The museum had previously boasted that it was 'as secure as Fort Knox'

https://www.dailymail.co.uk/news/articl ... rmany.html

Diamond thieves stole three 'priceless' sets of 18th-century jewellery from a German museum today in what could be the world's biggest-ever heist.

Burglars broke into Dresden's Green Vault in the early hours of this morning, switching off a power supply and breaking in through a window.

Once inside, they smashed open a cabinet and stole three jewellery ensembles which were commissioned by Saxony's former ruler Augustus the Strong in an 18th-century show of power.

Two thieves were seen on CCTV cameras inside the museum but they escaped in a getaway car and a manhunt has so far proved fruitless.

According to Bild, up to a billion euros' worth of treasures may have been stolen - which would make it the biggest art theft in history.

Experts at the museum, who once boasted that their collection was 'as secure as Fort Knox', said today that the value of the items stolen was 'immeasurable' and pleaded with the thieves not to destroy them.

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PinkDiamond
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After $1 Billion Theft, German Museum Finds It Has No Insurance

Post by PinkDiamond »

We actually have 2 threads going on this, but with the other one's title using German words it appeared to be another hit at first; thankfully this one was a repeat with a clearer subject title, and since Art gave more of the story here I'll follow this one with an update. It's unbelievable, but items such as this are not usually insured, as these were not, so if the cops can't recover them, they're lost to history. :?

I will edit Art's subject to show the update was posted here. ;)

After $1 Billion Theft, German Museum Finds It Has No Insurance
By Stefan Nicola
November 26, 2019, 7:42 AM CST


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Jewels stolen from the Green Vault museum in Dresden. Source: Police Saxony

"A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to be worth more than $1 billion by the local press—were uninsured.

The German state of Saxony, the owner of the Green Vault museum in the eastern city of Dresden, carried no insurance on the jewels, standard practice because the premiums typically exceed potential damages in the long-term, the state Finance Ministry said Tuesday.

While public museums usually insure works of art that are loaned to other institutions, they often don’t take out policies on their permanent collections, according to Julia Ries, head of fine art and jewelry at insurer Ergo Group AG.

“The budgets of public museums are limited,” Ries said. “You can’t replace such a collection from a monetary or art-historic value. If the jewels aren’t recovered, this part of the collection will be lost forever.”

The insurance shortfall was revealed as more details of the theft became clear. Police believe the burglars set a fire nearby to create a power outage, then broke a window to enter the museum. Though the total number of culprits is unknown, two people quickly smashed a display case, snatched the loot, and fled.

The whole thing took “just a few minutes,” police said.

Here’s how the robbery went down early Monday: ... "

https://www.bloomberg.com/news/articles ... -insurance
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Artfldgr
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Re: UPDATE: Diamond thieves stolen jewellery 'worth up to a BILLION EUROS' from German museum, found to be uninsured

Post by Artfldgr »

thanks..
insurance doesn't seem necessary till its needed..
and when its believed not needed and not used, people get upset at their good fortune..

just think how many people would not have minded the small crashes (historical perspective) if they had hedged..
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Re: UPDATE: Diamond thieves stolen jewellery 'worth up to a BILLION EUROS' from German museum, found to be uninsured

Post by SwordfishMining »

I think the owners of the worlds treasures would be appalled if they thought that it was public knowledge they could no way afford the premiums the thieving caused insurers to charge and that the thieves would not care in any case. Huge crimes of numbers or amounts ought to be multiplied by how many normal people it would or did ruin & then make a public example of the crooks like caning in Malaysia or stoning in Iran. Less crime would be done if their lives were on the line every time.
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Artfldgr
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Re: UPDATE: Diamond thieves stolen jewellery 'worth up to a BILLION EUROS' from German museum, found to be uninsured

Post by Artfldgr »

which is why canning for dropping gum on the ground is fitting.. (Singapore)
though i think the first time sentence for selling gum is 100k

they do it in saudi areas as well
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this womans crime was driving a car...

and of course, being raped is her fault, so they stone her
(by backing up a truck of stones with said criminal in a bag)

at least Indonesians had it right when they shot the bali bombers after trial (wifes country)

though you might want to be careful if you end up visiting Bandah Aceh
this woman is getting 17 wacks for being in a hotel unmarried..
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Aceh adopted religious law after it was granted special autonomy in 2001, an
attempt by the central government to quell a long-running separatist insurgency.

This was not the same in the rest of Indonesia...

ISIS does this, but so do other arab islamic states for stealing
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one thing you might not notice...
it doesnt stop people... does it?
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