The London Diamond Bourse has hit back at suggestions that Kim Kardashian’s stolen £3.5m ring could find its way to Hatton Garden, insisting there is “absolutely no basis” to the claims.
The jewellery was stolen in a raid on the star’s Paris hotel room earlier this week, with the incident making headline news around the world.
Experts believe the size and notoriety of the ring means it is most likely to be broken up and sold on, with one Met detective quoted yesterday as saying that the stones could end up in London’s primary jewellery district.
But the London Diamond Bourse, which has been the capital’s foremost trading floor for more than 70 years, called the claims baseless.
In a statement issued to Professional Jeweller, the LDB said it “takes exception” to the commentary surrounding the speculation of the fate of the diamond ring stolen from Kim Kardashian.
“Hatton Garden is the historic centre of London’s jewellery trade. As the trade association for diamonds in the UK, we feel compelled to contradict the unqualified statements made in the press which are hugely detrimental to Hatton Garden,” the LDB said.
“There is absolutely no basis to believe that the ring could find its way to Hatton Garden. From a technical perspective, to break the stone up into smaller stones would significantly affect the value. The band has minimal value even if melted.”
The LDB added that the economic forces putting pressure on Hatton Garden are well-known and that the reports do not help its cause in any way.
The thieves are reported to have stolen jewellery worth more than £9m during the raid. No arrests have been made.