jeweler robbed of 2 mil in diamonds and has no insurance

[AprilBaby]

Unbelievable!




http://www.dailymail.co.uk/news/article-2028118/Only-Hollywood-Jewellery-merchant-robbed-2m-worth-diamonds-carrying-backpack-brazen-heist.html

 

[pregcurious]

I don't understand how he has no insurance. That's bizarre.

 

[kenny]

Poor guy.
I wonder who owned the diamonds.
Him?

Also, I'd expect diamond merchants carrying stones would be VERY secretive about their movements.
I wonder if someone inside the industry informed the thugs.

 

[jewelerman]

Actually, you would be surprised at the amount of jewelers that cant afford insurance in the last 10 years because of increasing costs! everything from paying for benefits for employees,the cost of rent & utility's, the cost of merchandise and advertising.... its a wonder that the few brick and mortars that are open are still in business and hanging on with the economy the way it has been over the last decade!

 

[JewelFreak]

Not surprising, I guess, Jewelerman. Don't diamond merchants in NYC carry stones around & not have insurance? Maybe it's the way the industry operates -- I know they do business w/a handshake instead of contracts; think that's been discussed here too.

Whether he owned the stones or had them on consignment, he will have to eat the cost unless they're recovered, poor guy. I hope the $2 million figure was retail value & not what he is out of pocket. You're right, somebody on the inside obviously was involved. Hope they nail them.

--- Laurie

 

[iheartscience]

Yikes-definitely sounds like an inside job. I'm glad the guy's okay but that is a lot of money to be out of!

I do find it interesting how diamond dealers do business, though. I was in the diamond district in LA once and an elderly man (I assume a dealer) picked up a bunch of diamonds from a vendor and was about to walk away with them not even concealed at all. The man selling them was very alarmed and told him to please put them in his inside jacket pocket! The elderly man did but if there had been any unscrupulous people around he would have been an easy target!

 

[marcy]

It's awful and I feel bad for him but I sure wouldn't carry around something like that at 10 pm at night in a big city.

 

[centralsquare]

That's horrible! Seems like it would have to have been an inside job. Otherwise, seems like a lot of men to rob a regular guy of his backpack!

 

[bee*]

That's awful. Poor man. It does sound like an inside job.

 

[Tuckins1]

Why would he not have insurance

Still, it sucks that someone would do that...

 

[Amys Bling]

A jeweler in our town was robbed Of about a million and didn't have insurance. Crazy to think that jewelers might not all be insured.

 

[Dancing Fire]

Why would he not have insurance

Still, it sucks that someone would do that...

b/c it cost too much to insure...

when i used to do coin show we always carry guns.one time me and a coin dealer friend was driving home from a coin show and our car broke down in the middle of nowhere (before cellular phone days) we had like $70k in cash + $500k in coins between us,and my friend had to walk over a mile to the nearest pay phone and call for help. i had to stay in the car with our valuables .my friend said ...if somebody comes near this car "SHOOT EM". ...anyhow,we were not insure b/c we can't afford the high insurance premium.

 

[Amys Bling]

Why would he not have insurance

Still, it sucks that someone would do that...

b/c it cost too much to insure...

when i used to do coin show we always carry guns.one time me and a coin dealer friend was driving home from a coin show and our car broke down in the middle of nowhere (before cellular phone days) we had like $70k in cash + $500k in coins between us,and my friend had to walk over a mile to the nearest pay phone and call for help. i had to stay in the car with our valuables .my friend said ...if somebody comes near this car "SHOOT EM". ...anyhow,we were not insure b/c we can't afford the high insurance premium.

And this is what high insurance premiums do to people.... make them take matters into their own hands!

 

[missy]

Why would he not have insurance

Still, it sucks that someone would do that...

b/c it cost too much to insure...

when i used to do coin show we always carry guns.one time me and a coin dealer friend was driving home from a coin show and our car broke down in the middle of nowhere (before cellular phone days) we had like $70k in cash + $500k in coins between us,and my friend had to walk over a mile to the nearest pay phone and call for help. i had to stay in the car with our valuables .my friend said ...if somebody comes near this car "SHOOT EM". ...anyhow,we were not insure b/c we can't afford the high insurance premium.

And this is what high insurance premiums do to people.... make them take matters into their own hands!

I believe you should be able to protect yourself (and your property) and I would have no qualms shooting someone who was trying to harm me. The issue is you do not know when someone is trying to rob you if they plan on hurting/killing you in the process so I say protect yourself by whatever means possible. Of course your life is not worth risking over material things but I see nothing wrong ethically speaking with shooting someone who is robbing you.