$670,000 auction house raid has jewellery industry on high alert

Around $670,000 worth of jewellery was stolen in the raid on a Scottish auction house

Items of jewellery stolen in a daring raid on McTear's Auctioneers in Scotland could be worth around £430,000, the auction house estimates.

More than 300 items were stolen from the Glasgow auctioneer's safe earlier this week.

The items, including earrings, rings, necklaces and bracelets, are thought to have been removed from the premises shortly before 07:00 on Tuesday morning.

An auction house staff member arrived at work to discover the premises unlocked, the safe open and the alarm deactivated.

Strathclyde Police's Detective Seargent Jane Lawson said that the suspect, who was caught on CCTV, "arrived wearing a black woollen hat, a high-viz vest, and dark clothing and was carrying a black hold-all.

"I would ask the public, especially those in the jewellery industry, to take a look at [photos of the stolen items] and contact officers if they have been offered any items for sale," Lawson added.

In 2010, Beach in Pourville by Monet, stolen from Poland's National Museum in Poznan 10 years earlier, was discovered following a police raid.

Monet’s Beach in Pourville was found in 2010 following a 10 year absence

In the UK, galleries have become accustomed to finding prized rhino horns, which are used as a traditional medicine in China, disappearing overnight.

This is an appropriate point to remind readers that when you purchase a collectible from Paul Fraser Collectibles, we will happily provide free, secure, storage for the duration of your investment, if required.

Our current stock of investment-grade collectibles can be viewed here.

McTear's Auctioneers is perhaps best known for its collectible whisky auctions. Whisky lovers will be glad to hear that no "uisge beatha" was lost in the raid.

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Images: Khalid Mahmood