Monday, November 15, 2010

Has Brooklyn Lost Its Bling?

 The price of gold is pretty high lately-- about $1,367 an ounce as of close on Friday. So you would think that jewelers and pawn shops in Downtown Brooklyn would be buying used jewelry like crazy.

According to TheBrooklynInk, however, the local market for bling is frozen. Up and down Fulton Street the “Cash 4 Gold” guys are getting desperate.

“There’s nothing left to buy,” Albert Mandaby at Contessa Jewelers told TBI. He says that anyone who needed to pawn jewelry has already done so. “They’ve sold everything,” he says.

More here

Photo by Covilha, Creative Commons license

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