SOMERVILLE, Mass. (AP) — A violin bought by a Massachusetts pawn shop for $50 has ended up being worth about 5,000 times that.
WFXT-TV reports a new employee at the LBC Boutique and Loan in Somerville had no idea what he was buying when he paid for the Ferdinando Gagliano violin, which was handcrafted in 1759 and is worth $250,000. Store manager Dylan McDermitt says the bows alone are worth $16,000 to $18,000.
Police say the violin was stolen during a house break-in and has since been returned to its rightful owner. They say the seller had no criminal record and they’re still investigating.
McDermitt says in the future shop employees are going to ask people who bring in violins to play them so they know the instruments are theirs.
Most Read Business Stories
- Starbucks plans corporate shake-up and layoffs, starting with senior execs
- Costco takes rotisserie chicken supply chain under its wing
- H-1B spouses’ work ban rule coming within three months, feds say
- As Seattle home prices dip, outer reaches of metro area are humming along
- Walmart tells leafy-green suppliers to start using blockchain
Information from: WFXT-TV, http://www.myfoxboston.com