I'm sure those earrings were worth millions. 
It's culture my dear, culture.
Surprised the heck out of me to run into an Indian acquaintance with her 2 year old daughter at the mall. That baby had on earrings, a necklass and a ankle bracelet made from Asian gold.
Few sell that stuff up here, have to go to China Town in Boston------easy to spot, the color is different from every day gold as it is cut with a metal different to what we buy in the USA.
Culture, our immigrants from over seas are use to the get out of town fast and having to barter themselves out of country's and cross borders when all hell kicks up.
This jewelry will be put away in a few years and kept as a dowry for the girls in the future. The friend and baby had just come from some kind of religious ceremony and both were all dolled up. Not every day wear for the child or mother.
One never knows, I have as I am sure you also seen surveillance tapes of older woman getting knocked down for a gold necklass in the street, I shudder to think of a child being grabbed for their jewelry.
So who knows it the child's earrings came from Walmart or were handed down from a grandparent and worth $500.00 and the parents did not know the value. Thieves know much more about the value of stuff then we do.
Something strange about this story anyway, they said the baby was unhurt. So a stranger steals a car with a baby in it, decides to ditch the car but takes the time to carefully remove the baby's earrings. No easy feat to do so and not leave anykind of mark or redness on the baby's ears. This child most likely would have been scared and having a stranger face to face have twisted away from them.
Then the mother, I noticed she was barefoot, how long had that baby been in the car ? Was she driving barefoot ??? Insurance scam ?????