A Cannes jewel heist has seen about $53 million worth of jewels stolen from an exhibition on Sunday.
The hit on the jewelry dealers in Cannes – in the south of France – is the third such heist since just May, and has been jewelers in the region on full alert.
Police officials have not confirmed the exact value of the goods stolen, but reports have estimated they value about $53 million.
The heist came on Sunday morning as armed robbers, wearing hats and scarves, threatened to shoot exhibit workers and guests at the luxurious Carlton Hotel.
An official has reported, "A full and urgent operation is under way to catch the culprit and recover these jewels. Thieves see Cannes as rich pickings."
If the value of the jewels stolen is confirmed as being $53 million, it would make the heist the second largest such robbery in French history.
Jeweler Leviev, who owned the diamonds on display, is said to be angered and distraught at the robbery.
The Carlton Hotel in Cannes, is of course the same hotel famed as being the setting for Alfred Hitchcock's 1955 film, "To Catch a Thief."
This is not the first such heist this year, and during the Cannes Festival in May, a $2.6 million necklace was stolen from a hotel party, and $1 million worth of jewels was stolen from a hotel room.
Police and authorities are continuing their investigations into the latest robbery.
Here is a video news report into the Cannes jewelry heist where an estimated $53 million worth of jewels have been stolen: