Robbery of U.K. Royal Family's Items Leads to $4 Million Insurance Payment

New York Times

2 days ago

The organization that manages the British royal family's art collection received an insurance payment of £3 million, about $4 million, after thieves stole two of its artifacts that were on loan to a Paris museum, the organization has disclosed.
The two pieces, both elaborate snuff boxes that were originally used to hold powdered tobacco, included one that was encrusted with almost 3,000 diamonds and another that was decorated with gold and depicted the birth of the Roman goddess Venus.
Both had been on loan to the Musée Cognacq-Jay in Paris for its 'pocket luxury' exhibition, which opened in March last year with a collection of opulently decorated historical fashion accessories. But on the morning of Nov. 20, according to the Paris police, robbers carried out a violent daytime heist in front of visitors and employees.
A report in the French daily Le Monde outlined how the robbers sped into the museum's courtyard on scooters and threatened a security guard with an ax before smashing a display case and grabbing several of the items inside.
The two royal snuff boxes were found to be among the stolen artifacts, according to the museum. They were on loan from the Royal Collection Trust, which controls the royal family's art collection, and the trust's annual financial report revealed the resulting £3 million insurance payout.
'During the year, an insurance settlement was received in respect of snuff boxes stolen whilst on loan to the Musée Cognacq-Jay,' the report said, adding that the money had been placed into a fund 'to be used for the enhancement of the Collection.'
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