Warner Company Jewelers donated the proceeds of an online auction for the so-called "Lucky Diamond".
The two carat gem had been stolen last month from Warner's northwest Fresno store.
An off-duty Tulare County deputy spotted the thief jumping into a getaway car and gave chase.
The thief was caught minutes later and Warner's got their diamond back.
A jeweler in New Jersey placed the winning $10 thousand bid. He plans to place the diamond on a ring then auction it off for NYPD nine-eleven responders.
Don Wolfe said, "This is a story that something bad is I believe is going to turn into a very generous donation in several ways. So we're very appreciative and wanna make sure everyone understands we've got a great police department who always steps up for us when we need it"
Fresno Police plan to use the auction proceeds to purchase equipment for officers.
Police Chief Jerry Dyer presented plaques to the deputy and another man who helped catch the suspects in the case.
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