Local Pawnshop Buys $250K Violin for Only $50. It was stolen.
Somerville, MA - A new employee at the LBC Boutique and Loan in Davis Square mistakenly bought a stolen violin. On behalf of the pawnshop, the employee purchased the violin for just $50. It has been valued at $250,000.
A new employee was hired at LBC Boutique and Loan where he was expected to quickly adapt to the rules of working in a pawnshop. Shortly afterwards, the employee completed a transaction for a violin, purchased for the heft sum of $50. It later came to lght did he know that the violin was initially stolen and pawned for money.
Without having any way to know that the violin was stolen, pawnshop owners were, and always are, required to hold pieces for a minimum of 30 days before selling them. The rule is put into place for good reasoning, especially regarding this specific violin.
The owners of LBC Boutique and Loan received a call from the Somerville Police Department a few days after buying the violin off of a customer. The detective stated that the seller had no particular criminal background history, but that the violin was in fact stolen from a home in Somerville. Whether the seller was the person who stole the violin, or whether it was someone else, the investigation is still underway.
After speaking with the police department, Dylan McDermitt, employee of LBC Boutique and Loan, stated that the violin was a Ferdinando Gagliano. The hand-crafted, one of a kind violin was made back in the 1750s, prior to the United States even existing as a country. The Ferdinando Gagliano was found to be worth five thousand times more than the original buying price at the pawnshop.
As of now, the expensive and unique musical instrument is being returned to its rightful owner. The investigation as to how the seller (thief) had the violin in the first place is still ongoing.
McDermitt joked in an interview earlier in the week that from here on out, the pawnshop will be asking customers to play the violins, and like instruments, if they are trying to sell them. McDermitt states that this will confirm that the instrument was really the sellers in the first place. It may be a joke to us, but McDermitt may very well ask his sellers to show proof that the instrument is theirs during future transactions.