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Woman Stole $42,000 Ring, Sold It For $140


#1

I just saw this story on the internet about a woman who stole a
$42,000 diamond and platinum ring and sold it to a local jeweler for
$140. The story describes the woman as a young cleaning lady who
pilfered it from an employer, but the only mention of the Brookfield
jewelry store was to say that the ring was retrieved the day before
it was to be resold or refashioned.

Seems to me that the jeweler is every bit as guilty as the (other)
thief.

I thought I’d run it by Orchid to see if anyone has any thoughts on
this.


#2

Guilty yes because if someone brought in a ring, a 42000 ring and
agreed to take 140 dollars for it I would be calling the police and
telling her I had to check one more thing before I could pay her.

red flags follow instincts and do not break the law simple things

Teri


#3

First: Either the jeweler buying the diamond had no idea of value of
the piece, or he/she has no ethics. Offering $140 for purchase of
$42000 item is stealing from the seller; also the buyer should have
some idea of actual ownership of such an item before buying it
(receiving stolen goods).

Second: If the article is correct, I think we have already
established the buying jewelers ethics, as he/she was intending on
selling or using the materials to recraft the ring. This implies
knowledge of that the ring was not the property of the seller.

Third: I am extremely “unhappy” (translate that as anything you
wish) that our profession has been portrayed to the public as
unethical, dishonest and just down right wrong by this action.

Not too good at expression, since I am mad! and tired (0400 hours
here). I should be asleep and not reading this as I have to get up to
go to work in about 3 hours.

John
John Atwell Rasmussen
Rasmussen Gems and Jewelry
www.rasmussengems.com
http://rasmussengems.ganoksin.com/blogs/


#4

Hello,

stealing is a crime and can not be justified for whatever the reason
might be. If anyone makes an exception of this role then this will
never end. You don’t steal ones and what reason will justify your
next action? Thatmuch about the act of this lady.

As a common rule, I never buy anything from somebody. Might be a
good opportunity but this is the way I work. People can use their
"old precious metals" to reduce the price of the item they’re looking
for but I will not exchange it for money. Yes I know, I could make
some money out of this and maybe I’m the fool. However, I can go to
sleep without having a split feeling about what I’ve done to someone
else.

The guy who bought te ring from this lady is a fool and not honnest.
The local jeweller who bought this item can not standup with the
reason that he didn’t know about this ring and paying such a small
amount of money for it. That is a rip-of as far as I’m concerned
about this treath. To me he’s worse then the lady for the fact that
he’s a jeweller and knows the price of this item which is for sure
not $140,- You do not handle people like this !!! If you do then
you’re in a very bad deal having a jewellry shop. What go’s around,
comes around and I’m sure that he will not be left unpunisched.
Justice will find his way, like it or not.

Keep the good work up and stay on the honnest site. It will pay-off
in the long run.

Pedro


#5

Most states have or should have a law about receiving stolen
property.

Tom Arnold


#6

I don’t know if the jeweler is guilty or not. I do know that in the
city where our store is located we have to obtain a permit from the
city in order to buy jewelry and stones from the public. Our scales
had to be inspected and certified by the state agriculture folks. We
have to renew this permit yearly, for a fee. We are required to have
the seller fill out a form, which we send daily to the police
department which tracks stolen goods, and we must keep the items for
2 weeks before disposing of them. I am sure most cities have a like
requirement. One of the officers in this department told me that the
names he sees on the reports these days are not known criminals, but
the moms of fellows he grew up with (it’s a small city,
pop. 200,000). I know there are jewelers nearby as well as in my
hometown who buy goods from the public and do not follow the rules.

Peggy Wilson


#7

Well, first of all, the 42K is unsubstantiated. Who claims its worth
that and based on what? It wasn’t a recent purchase so where does the
42 come from? I’m not necessarily disputing the value, its just that
a lot of hothead comments were made without the benefit of
ascertaining facts. But that’s the internet.

I see that the Police in that town issued a “Municipal Citation”.
I’m not sure what that is but it doesn’t sound like a felony arrest.
I have to ask myself why? 42 grand is cuffs time around here.

There’s something fishy going on with this case. Doesn’t pass the
sniff test. All is not known.

But yes, I did notice how people are eager to accuse the jeweler of
criminal activity. Based on what is my question?


#8
Seems to me that the jeweler is every bit as guilty as the (other)
thief. 

I completely agreee… Too bad they didn’t publicize his name and
the name of his store.

Lisa, (Back from the Sedona Arts Festival. Won Best in Show. Woo
hoo!) Topanga, CA USA


#9

The jeweler is worse. He not only knowingly received stolen
property, but cheated the thief!

Al Balmer
Sun City, AZ


#10

Sounds like a very shady jeweler! Not one I’d like to work for.

My boss keeps all items that he buys for a minimum of 30 days, or
more if he thinks the seller is suspicious. (There are some things in
the safe that have been there for a year.) There’s no way he’d buy a
ring like that from a someone and not determine that they owned it or
were authorized to sell it.

And $140? Well, “shady” is too gentle a term, but considering this
should be a family-friendly forum, I’ll watch my language.

Kelley


#11

Neil,

Whether the story is entirely accurate, the discussion still can
center around what we think of the presented situation. I base my
statements on the presented situation (it may or may not be true). If
true, then all that I said is correct. If untrue, the we were only
discussing a probable situation. BTW, I did try to research the
story. Occonomawoc is not totally unknown to me, so I contacted my
Uncle in Menomonee Falls (same county) and apparently the story
wasn’t that big in the area, he had not heard of it.

John
John Atwell Rasmussen
Rasmussen Gems and Jewelry
www.rasmussengems.com
http://rasmussengems.ganoksin.com/blogs/


#12
Well, first of all, the 42K is unsubstantiated. Who claims its
worth that and based on what? It wasn't a recent purchase so where
does the 42 come from? 

What’s the difference who valued it? With diamonds in a platinum
setting, surely its value is substantially more than $140.

I see that the Police in that town issued a "Municipal Citation".
I'm not sure what that is but it doesn't sound like a felony
arrest. I have to ask myself why? 42 grand is cuffs time around
here. 

In Wisconsin, a citation can be issued for any violation of
municipal law, including theft. For whatever reason, the police
directed her to show up in court rather than put her in jail.
Apparently they don’t expect her to leave town.

But yes, I did notice how people are eager to accuse the jeweler
of criminal activity. Based on what is my question? 

Based on receiving stolen property? That is criminal activity, isn’t
it? Or do you really believe the jeweler was so incompetent that he
thought it came from a Crackerjacks box?

Al Balmer
Sun City, AZ


#13

I am personally aware of someone a high end jewelrer in Philadelphia
who in fact has a criminal record for burglary and drugs and served
several years in a state prison for such. The burglarys involved
jewelry. The fact is that the Judge who senteneced the guy despite
being in the trade never did anything to ban the guy from the trade.
In fact he has taken from people goods on memo and in fact switched
goods, and also deals in stolen goods knowingly buying them cheaply
and then retsetting them. The problem is the polise refuse to do
anything or investigate the matter since jewelrs row is controlled
by the trade and they do not investigate or want to make a stir
there. This is where the problem lies. Many in the scrap business ie
metals, diamonds, and precious stones also knowlingly buy such far
under any realistic prices knowing they are stolen goods but the
motive for profit and greed pushes them onward. Once again the
problem is the police refuse to do any kind of sting operations.

Further I am aware of an indident where fake stones were sold as real
at a gem show and reported the the Pennyslvania State Attorney
General Office. The company was an India owned company from New York.
THey did make good and returned the money and costs for a gem lab
report. However, the attorney General did nothing to them as they
stated " we bought it from some company in India who said it was
real"The facts are the company still does gem shows and still is
doing the same misrepresentation while the attroney general bureau of
consumer protection and police do nothing

It is why there is such fraud in the industry. Until the police,
attroney general, and others start doing major undercover buying at
gem shows, etc then and only then will the fraud stop.

Lee Horowitz, M.Ed, CAGS, Gemologist
Peru Blue Opal Ltd


#14

Quite often jewelry doubles and triples it’s value when it has been
stolen. The day before it was stolen it had a value of $10,000, but
now that it is gone, it’s value is $30,000. Many people feel that it
is not stealing if it’s stealing from an insurance Co. Of course
Insurance Company’s are not so quick to write those checks as one
might think. But make no mistake, Insurance fraud is why we all pay
so much.


#15
But yes, I did notice how people are eager to accuse the jeweler
of criminal activity. Based on what is my question? 

Tell me were I can buy a platinum ring with stone for $140,- ?? Even
when he didn’t know where this ring comes from, one can tell with a
loop that this ring was not used. Prongs being brandnew, no
scratches, no damage on the stone(s). The most stupid person (and I
appologize for this expression) whould have this ring valued bevor
selling it. But anyway, as far as I’m concerned being a jeweller, I
know what to do when somebody makes me this offer. I’ll give the
person a good advice and take a run with this item! Even this is not
according the law. Concidering the probably financial and familiar
condition of the lady (and I’m just taking a quess), this whould be a
fair decition.

I express myself based on the introduced article. This jeweller was
not honnest offering that amount of money for an item of a much
higher value WITHOUT thinking of buying a hot item,without making
notes of the purchase and not even reporting this to a local police
officer. Not knowing is no excuse!

This is te reason why I make this statement and to me the jeweller is
not better (even worse) then the person who stole it, just thinking
of making a good deal for himself. I’m sorry if others are thinking
different but if people don’t show respect, well they don’t receive
respect. You’re only worth it where you stand for and I do not stand
for any possible kind of crime.

Yes, as far as I’m concerned, the jeweller is a bad person going
with the article received from a fellow ganoksin member. Although,
it’s not up to me to act as a judge. The system will judge him and if
not, customers will.

Best regards
Pedro


#16

I agree that more is needed. Was the $42,000.00 the
value assigned by an appraiser that valued the ring for “insurance
replacement” purposes? Is it a diamond or colored stone ring?

Most OTC buyers (over the counter) don’t know anything about colored
stones and do not value them when buying a piece. If this is the case
in this instance, the jeweler PROBABLY just paid for the scrap gold
content of the ring. Many pawn shops will not buy colored stone rings
for this reason.

I believe more is needed before we brand this jeweler as
a crook…Teddy


#17
My boss keeps all items that he buys for a minimum of 30 days, or
more if he thinks the seller is suspicious. (There are some things
in the safe that have been there for a year.) There's no way he'd
buy a ring like that from a someone and not determine that they
owned it or were authorized to sell it. 

Kelley, I don’t understand this practice could you explain it in
more detail for me? Why would he buy something from a suspicious
seller and then keep paid inventory in the safe instead of on the
floor? Don’t mean to be dense but I’m confused.

Thanks
Amery Carriere Designs
Romantic Jewelry with an Edge
www.amerycarriere.com


#18
I am extremely "unhappy" (translate that as anything you wish) that
our profession has been portrayed to the public as unethical,
dishonest and just down right wrong by this action. 

Well, this may come a shock to some here but jewelers are not highly
regarded by the public, hence the rush to judgement, even by other
jewelers. I had a banker say to my face that jewelers are on a par
with used car salesmen. Seriously, a banker. What do we think of
bankers lately? ALL guilty by association?

Remember that this is a repost on the INTERNET(hello! You have mail
from Nigeria) from a small town newspaper. Take a look around the
referenced site, its like the National Enquirer. You might find the
Alien Batgirl there somewhere. Was it corroborated that the ring was
indeed $42K? Or was that a ‘claim’ by someone who may stand to
collect on insurance or civil settlement with the Maid Company? Or
was that family lore (Grandpa would only buy the finest)… Google the
story and you’ll find that the police issued a Municipal Citation to
the girl. This does not compute. Someone is alleged to have stolen
$42K and they get the equivalent of a traffic ticket? That doesn’t
make you go “hmmmmmmmmmmmmmm??”

We don’t know if the jeweler is qualified at valuation or not. No
offense to anyone but its likely that a fairly good number of people
here, doing business, cannot adequately evaluate something in this
alleged range. And to the charge that the jeweler’s intent to reset
the ring MEANS guilt…maybe it was just butt ugly. If his/her intent
was to cover a crime wouldn’t he have broken the thing up
immediately? Chop shop style? In and out in twenty minutes. Do a
little web-snooping and you’ll find this ‘jeweler’ deals mostly in
CZs and Moissanite which as we know is good training for high end
diamond purchasing. (tongue firmly in check there)

There are a lot of assumptions being made. The biggest assumption is
that concerning the jewelers intent. I do not know the jeweler’s
intent. Neither does anyone else on the web. Is it not fair to
reserve indictment til the facts are known? Facts, not allegations,
insinuations or dubious inferences.

I don’t see anywhere that the ‘jeweler’ has been arrested for fencing
stolen goods. Another ‘hmmmmm?’ moment.


#19
I do know that in the city where our store is located we have to
obtain a permit from the city in order to buy jewelry and stones
from the public. 

As for outrage - the buying price says about everything you need to
know. That’s the price of a “fence”. (Or so I’ve heard ;<} )

But as a point of fact, here in SF and as far as I know everywhere,
you need a “Pawn Broker’s License”, just as Peggy lays out, in order
to buy jewelry legitimately from the public. And then you need to do
the things she says - send paperwork to the PD and all. It doesn’t
mean you’re a pawnbroker, that’s just the license. Here the hold
time for merchandise is 20 days. I don’t buy from the public, so I
don’t have one. I know that not everyone who does buy has one
either, but that’s their problem…

http://www.donivanandmaggiora.com


#20

I have never understood an “Insurance replacement appraisal” as
opposed to a Regular true appraisal. That is out and out Insurance
fraud. It’s alright to steel as long as it’s from an Insurance Co. In
the end, we all pay.