Fifteen law enforcement agencies helped bust a luxury car theft ring at New Jersey?s ports, investigators said Wednesday.

New Jersey Attorney General Anne Milgram said those involved in the theft ring would steal expensive cars and sell them overseas for twice what they are worth. According to investigators, the ring operated out of New Jersey, New York and Virginia.

Some of the cars were stolen off the streets or from long-term parking at Newark Liberty International Airport. Milgram said the largest haul came from the new car lots at Port Newark and Port Elizabeth.

According to authorities, the suspects only stole cars that still had ignition or valet keys in them, which many luxury cars have hidden somewhere.

?There?s absolutely no damage to the car, no indication it was stolen,? Milgram said. ?The car, in many cases, was brand new.?

Authorities arrested at least eight people and expect to make more arrests. Investigators said they were able to seize 72 cars at Port Newark, where the thieves were planning to ship them overseas.

The ring had at least one freight loader working with it, police said. The cars were valued at more than $2.5 million.

For extended footage of the press conference with Milgram, go to channel 612 on your iO digital cable box and select iO extra.