Store Loses Nearly $1 Million in Smash-and-Grab Robbery

Store Loses Nearly $1 Million in Smash-and-Grab Robbery

( – Smash and grab crimes seem to be on the rise as criminals gather in groups and steal goods from retailers in different cities across the country. On December 14, a thief broke into a window display in Palm Beach, California and stole about $1 million worth of handbags. The Only Authentics boutique carries unique Hermes and Chanel bags consumers can’t get anywhere else. The store’s owner, Virgil Rogers, said a few of the bags were worth over $100,000 with a couple as high as $480,000.

The items stolen include both the Birkin and Kelly models of the Hermes handbag collection, with starting prices at a whopping $17,000 per bag.

The reason the bags are so high priced comes from two factors: rarity and craftsmanship. They’re made from cow, alligator or ostrich leather and are very popular in the fashion industry. Buyers typically have to join and be on a waitlist for years before being able to purchase one of the exclusive bags. Hermes also limits how many each customer can buy each year, driving the demand and price even higher.

Unfortunately, the incident at Only Authentics is not isolated. For example, The Washington Examiner reported that a smash-and-grab in Chicago at a luxury car dealership resulted in the theft of about $2 million in wristwatches. In addition, in November, a San Francisco Apple store lost thousands to a similar type of robbery in broad daylight.

The police in Palm Beach are still investigating the Burkin theft.

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