Burglars have carried out a massive raid on a German Museum on Monday morning carting away valuable antiques believed to be worth a billing euros.

The police in Germany are currently on the chase for bandits who broke into the very popular museum, ‘Dresden castle’ on Monday and stole valuables over 850million Euros.

According to German magazine, Bild, the robbers cut off power supply to the museum at 5am and broke in, with their main targets being jewelry, diamonds and precious stones worth millions of pounds.

According to the museum officials, the ‘priceless’ sets of 18th century jewellery stolen were three sets of Baroque jewels made up of dozens of gems each and contains around 4,000 objects of gold, precious stones and other materials which police believe will be very hard to sell in the open market.

The police confirmed the robbery in a statement: The crime scene group is on the scene, the perpetrators are on the run.’, Police spokesman Thomas Geithner confirmed.

The ‘Green Vault’  housed in Dresden Castle which makes up part of the Dresden State Art Collections holds the largest collection of treasures in Europe and was founded by Prince Elector Frederick Augustus I, later nicknamed Augustus the Strong, in 1723.

Green Vault director Dirk Syndram said to German magazine, Bild: ‘Nowhere in any other collection in Europe have jewels or sets of jewels been preserved in this form and quantity. ‘The value is really in the ensemble.’

Dresden’s State Art Collections director, Marion Ackermann, said

“We cannot give a value because it is impossible to sell. ‘The material value doesn’t reflect the historic meaning.’’