As a work of art, the toilet weighed 98kg (216lbs) and was insured for $6m (£4.8m).
Gold prices at the time would have meant the metal alone was worth £2.8m, the court was told.
It is not known exactly when the thieves broke the toilet into smaller pieces, or whether they melted the gold themselves.
But the court heard within two days of the heist, Sheen was looking for buyers, offering gold at about £25,500 per kilo.
In voice messages Doe, who is also known as Fred Sines, told Sheen that: “I can sell that car for you in two split seconds.”
He was also heard explaining what can be expected of a deal: “Within 48 hours you get paid and it’s guaranteed by me. Personal guarantee.”
But he also urged secrecy: “Jim, very clear. This stays strictly between me and you.”
Doe organised a meeting between Sheen and a bullion dealer in Hatton Garden, London’s jewellery quarter.
He told the toilet thief that the dealer “knows the full score of the car.”
“What the car is, what it was, what it wasn’t. You know, these boys are 100 million percent on me,” he added.
In the end, the deal turned sour and it collapsed without a sale.
Sheen instead sold the twenty kilos of gold – around a fifth of the toilet’s gold – to an unknown buyer in Birmingham for £520,000.