"Cheap ransom" demand for stolen Michelangelo letter

A theft from the heart of the most secure place in the Vatican sounds like the stuff of novels, but in fact, it's been done in the form of a kidnapping.

The stolen letters are rare writings of Michelangelo, the Renaissance master who created the ceiling of the Sistine Chapel, one of the most significant works of art in history.

Someone described as a former employee contacted the Vatican demanding a ransom of more than $100,000 for documents some scholars consider to be invaluable.

"The people who stole them can't have any idea how much a letter from Michelangelo is worth. One hundred thousand Euros is almost a ridiculously small sum even for one letter," Catholic University of America professor Ken Pennington said. "And if, in fact, as it's been reported that it's two letters, that is an extraordinarily cheap ransom."

The items were taken in 1997, but their disappearance was not made public until Sunday.

Vatican spokesperson Father Federico Lombardi would not say why it took nearly 20 years to disclose the theft, but Pennington believes it may have been an attempt to discreetly have the stolen documents returned.

"The Vatican perhaps was very cautious about not making it known so perhaps the people who stole the letters would perhaps feel secure about returning them," Pennington said.

In 2011, "60 Minutes" got a rare look at one of Michelangelo's writings being restored at the Vatican Library where historic treasures are kept under the tight security. They're normally open only to accredited scholars.

This isn't the first time rare works have been stolen from the Vatican.

In 1995 an Ohio State University professor was convicted of stealing pages from a manuscript inside the Vatican Library. He was caught after he tried to sell them to an art dealer.

Pennington believes whoever is responsible for the Michelangelo theft has no choice but to make a deal with the Vatican.

"It would be almost impossible, except by ransoming the letters, to make a profit." Pennington said.

The Vatican has said there is no question of a deal being made. Vatican gendarmerie are investigating and everyone else in the church will be praying for the thief to show remorse.