By William Tauro
Last month a woman walked into LBC Boutique located at 260 Elm Street #109 in Somerville’s Davis Square and for $50. pawned a rare stolen $250,000 violin that was insured for $200,000.
The $50 purchase also included a rare bow which is worth $18,000 as well.
According to a LBC Boutique spoksman, the woman walked in and told staff that her daughter is no longer taking violin lessons and would like to sell it. The woman asked for $50 from LBC Boutique for the violin not knowing its real value or history.
The LBC Boutique spokesman also told us that after the boutique purchased the violin it sat in the back inventory storeroom for over nine days waiting to be cataloged as well as to meet the required waiting time before most items can be put up for sale. Jewelry stores that buys gold and diamonds or other high end items including instruments all apply to this rule with pawnshops. LBC Boutique told us that the Police rules require a pawnshop to hold items for 30 day’s before selling them as well.
Then he said that a day or so after a police officer called the store and asked if anyone came in trying to pawn a violin.
When the LBC staffer produced the violin for the police from the back storeroom he was surprised to find out that the violin was a 17th century Gagliano violin worth over $200,000 that was actually reported stolen a weeks prior during a local home burglary.
The LBC Boutique spoksman told us that its the shop’s policy is to not immediately put it on display nor up for sale for a period of time before it can be cleared.
Dylan McDermitt of LBC Boutique told us that he was surprised when police called and he’s glad that he didn’t put it up for sale yet.
Police came later that week and returned the violin to its owner.
LBC Boutique also told us that last year they were in possession of an authentic Peter Tosh Grammy Award last year in their Davis Square Somerville location as well.