Moving Valuation Protection: Lessons from the $100M Jewelry Heist

California’s BHGS governs how licensed movers present valuation options to protect your belongings.

In July 2022, the largest jewelry heist in U.S. history took place, more than $100 million in gold, diamonds, rubies, emeralds, and luxury watches were stolen from a Brink’s truck after a San Mateo gem show.

The declared value? $8.7 million. That number has shaped the lawsuits, recovery efforts, and compensation since day one.

June 2025 Update

Seven Southern California men indicted for planning and executing the theft (The Washington Post, The Times).

Partial recovery of stolen goods during search warrants.

Federal charges include theft from interstate and foreign shipment, conspiracy, and Hobbs Act violations.

While most of us will never be moving $100 million in jewels, this case is a real-world lesson in moving valuation protection.

What Is Moving Valuation Protection?

Valuation protection sets a mover’s liability for lost or damaged goods under California BHGS rules.

Valuation protection is the amount of liability a mover agrees to assume if your goods are lost or damaged. In California, the Bureau of Household Goods and Services (BHGS) regulates how movers present these options:

Basic Coverage: 60 cents per pound per article, included in the move price, but minimal.
Actual Cash Value: Compensation based on the item’s depreciated value.
Full Value Protection: Repair or replacement at today’s market value.

Why Declared Value Matters

Declared value caps your recovery. Under-declaring puts you at risk no matter the actual loss.

Your declared value sets the maximum you can recover. Under-declare, and your recovery will be capped at that amount — no matter the actual loss.

Example: If a 20-pound antique table worth $1,000 is lost, Basic Coverage pays $12, unless you chose and paid for higher protection.

How It Protects Consumers

Ensures financial recovery based on the coverage you selected.
Reduces disputes by documenting value before the move.
Clarifies your rights under BHGS rules.

How It Protects Licensed Movers

Sets clear limits of responsibility.
Demonstrates compliance with California law.
Prevents costly disputes and claim escalations.

Key Takeaways

Always review valuation options before moving day.
Declare high-value items in writing.
Keep small, irreplaceable valuables with you.

The Brink’s case shows that valuation protection is not just paperwork. It is the difference between full recovery and a financial loss you cannot undo. Whether you are moving antiques, heirlooms, or everyday belongings on a Bay Area residential move, knowing your rights under BHGS rules is essential.