It is a silver ring, obviously very old, but untarnished.  It is engraved with the Seal of the Court of Liars, a stylized daggar.  This is the mark of the ruler of the Court of Liars, the King or Queen of Thieves.  This was first given to Lila, the first Queen, for saving the lives of Fortunata and the poet Martin, Fortunata’s lover.  What Lila had no way of knowing was that Fortunata was one of the avatars of the goddess of luck.  Before this, Lila had been a common thief, albeit a skilled one.  After she recieved the ring, luck always went her way, and it was said that she could steal anything.  Fortunately, she was a moral woman, and did not abuse this newfound luck and skill too much.  She formed the first Court of Liars, a group of outlaws who had banded together first for protection, and then to do what they could to throw out the (to Lila’s mind) overly corrupt Guildmasters of the city.  She became seen as a folk hero, and later on, it was largely due to her involvement that Prince Soto, who should have been the rightful ruler of the region but for a treacherous cousin, was restored to his throne.
It was during this period that Lila was given the title “The Queen of Thieves.”  She did much good for the city, even if she did liberate the wealth of a few fat merchants.   But even the Queen of Thieves gets older, and eventually, she “retired.”  Shortly after this, the Seal of Thieves was stolen from Lila, by a bandit named Argent.  The strange properties of the ring went with it, and fortunately, Argent was as moral as Lila in her way.  And, in time, Argent became Queen of Thieves.
And so it went.  The Seal of Thieves was stolen from one ruler and the thief became the new King or Queen.  And it’s either an inherent property of the Seal or fate, but every single King or Queen of Thieves has been a more or less good person, and they have accomplished much. 
Ten generations have passed since the Seal was given to Lila.  The Court of Liars has been dissolved and reformed four times, but the Line of Thieves has been contiunous.  Many people don’t recognize the symbol on the old ring any more, or connect it with the King or Queen of Thieves.  This suits them fine.

Magical Properties:

The Seal of Thieves is a physical token of the favor of Fortuna, goddess of luck.  It bestows abnormally good luck on the bearer.  The Kings and Queens of Thieves have all had what is usually called “a charmed life,” and they always seem to end up in highly advantageous situations.  However, as it was first given to a thief, it is keyed to thieves.  It only works if it is stolen from whoever stole it last, and it has never been stolen before the owner was ready to give it up.  Ownership of the ring, obtained in this fashion, also confers the title of King or Queen of Thieves, and all that goes with that.

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