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Lupita Nyong'o poses on the red carpet for the 87th Oscars on February 22, 2015 in Hollywood, California Image Credit: AFP

The theft of a $150,000 (Dh550,942) pearl-covered gown worn by Lupita Nyong’o at the Oscars doesn’t surprise Hollywood stylists who have personally experienced the seedy side of red carpet fashion.

Style expert and fashion commentator Mary Alice Stephenson has for years heard stories about similar stolen celebrity items.

“It’s not shocking to me that this would be taken out of her hotel room,” said Stephenson, who once had a nabbed Fendi bag held for ransom.

A dress like the custom ivory one designed by Francisco Costa for the Calvin Klein Collection could fetch a lot of money on the black market, Stephenson said.

“There are a lot of collectors out there who are very private and have private collections of stolen merchandise,” she said. “Some of these dresses have global fame as big as any Van Gogh.”

However, Los Angeles Auction House director Bryan Abbott noted that the black market would be problematic for fetching top dollar in this case.

“Celebrity-related material has additional value because it’s related to the celebrity,” he said. “If this was stolen, you wouldn’t be able to realise that additional value.”

“I can’t think of a harder thing to sell than a high-profile Oscar dress by a famous manufacturer that’s associated with a famous personality. You’d have to bury it for a hundred years,” he added.

The 6,000 disconnected pearls wouldn’t even be worth much on their own, Abbott said.

“Most pearls don’t have much of a resale value to start with, unless they’re from a famous manufacturer such as Mikimoto,” he said.

Sherriff’s deputies responded to a call late Wednesday from a West Hollywood hotel after the custom dress was reported missing from the hotel room of the actress, sheriff’s Sgt. Richard Bowman said.

Nyong’o was present when deputies took the report, but she wasn’t in her room when the elaborate gown was taken, Bowman said. Her publicists said they would not comment on the theft.

Representatives for the actress reported the theft. Detectives suspect the garment was taken sometime between 8 and 9pm Wednesday, sheriff’s Lt. William Nash said.

Detectives were at the hotel Thursday looking for clues, including surveillance footage that might reveal what happened.

Nyong’o won an Oscar in 2014 for her role in Twelve Years a Slave and was a presenter at this year’s ceremony on February 22.

The 31-year-old actress has become a darling of Hollywood’s red carpets in the past two years, with commenters and fans praising her fashion choices. She accessorised the dress with Chopard diamond drop earrings and three Chopard diamond rings.

A representative for Calvin Klein declined to comment. But late Thursday night the fashion house did tweet a close-up photo of the dress, writing “have you seen this dress?” with the hashtag “freethepearls”.