Second jewellery heist at Cannes

3.1 k views | Posted May 28, 2013 | By Emily Mobbs • Former Editor

A diamond necklace reportedly worth €2 million (A$2.7 million) is believed to have gone missing during a star-studded party held by jeweller de Grisogono at the Cannes Film Festival.

The suspected theft is the second jewellery heist to have taken place at the international event. During the first week of the festival a collection of Chopard jewellery – and the safe holding it – was burgled from a hotel room.

De Grisogono founder Fawaz Gruosi confirmed the necklace’s disappearance to Reuters, and said that it was taken despite having 80 bodyguards, local police, hotel security and staff on duty to ensure the safety of the pieces on display at the party.

The item was part of the Swiss jeweller’s 20th anniversary collection, which was paraded by 20 models at the event held on Tuesday evening 21 May. Hollywood stars and famous celebrities including Sharon Stone, Paris Hilton and Harvey Weinstein were among the guests in attendance.

It wasn’t until the end of the night’s festivities that de Grisogono employees noticed the diamond necklace was missing.

"We don't know exactly what happened. It was one of the most beautiful items we had," Gruosi said.

According to a report by CNN, there were some inconsistencies regarding the value of the necklace. While de Grisogono said the necklace was worth €2 million, police in Nice, France, stated it was only worth €1 million (A$1.3 million), and police in Cap d'Antibes, the resort town where the party was held, gave a third figure – US$1 million (€773,000).

Nevertheless, reports suggested authorities were investigating whether the incident was a theft, a problem of inventory or a loss.

The Cannes International Film Festival is one of the most prestigious and publicised film festivals in the world. Some jewellers use the 12-day event as a promotional showcase by lending high-priced jewellery items to celebrities attending industry events.