The 'Keeping Up With The Kardashians' star had her £3.5million diamond engagement ring taken when she was robbed at gunpoint last October and it is thought the piece of jewellery would have now been "recut and sold off".
A source told France's BFM TV that Kim "is unlikely to get the jewellery back".
Whilst Jerome Guillochon, president of a French jewellers federation, added: "They separate the stone from the metal. On one hand, they will melt the metal, and on the other, they will usually cut the stones completely, in order to remove all markings or modify the shape. Because if there is a typical shape in exceptional jewellery, if there is a ring in the shape of a cushion, they can perhaps cut it in circles."
Without alteration, the 36-year-old television personality's ring – which was a gift from her husband Kanye West – would have been easily recognised as it had the word 'Adidas' carved into it.
And Guillochon believes the ring would have been altered using lasers before it was sold on the black market in Antwerp, Belgium.
Two of those arrested – Aomar Ait Khedache and Didier Dubreucq – were reportedly living in the city since October and detectives believe they moved there so they could get rid of the jewellery as soon as possible.
A source previously revealed: "Antwerp is a town where jewellery can be sold on with no questions asked. The men know the industry inside out, and may well know exactly where the ring went."
And Kim was said to be "deeply relieved" after a number of people were arrested in connection with the robbery.
A source said: "Kim is deeply relieved to know that this horrible ordeal will all come to an end soon."