Penalties may soon get tougher in New Jersey for jewelers who don’t follow the rules
Sell by the rules or don't sell at all.
There is a piece of legislation, just advanced by the New Jersey Senate Commerce Committee, and sponsored by State Senator Kip Bateman that comes down harder on jewelers violating New Jersey’s secondhand jewelry and precious metals record keeping laws.
“Under my legislation, jewelers who pawn off illegally obtained valuables on innocent consumers could no longer claim ignorance as a defense for buying and selling stolen goods,” Senator Bateman (R-16) said in a statement. “Sellers who try and hide the fact that they received stolen property, and are putting it up for sale, must be held accountable for breaking the law.”
His bill, S-2202, seeks to establish new penalties for a seller who doesn't properly identify the individual selling jewelry to their business, Senator Bateman said, or claim knowledge of the receipt of stolen property.
Under this legislation, if you were to violate the provision, you would face financial penalties of paying between $500 and $1,000 and/or go to jail for up to 30 days.
Senator Bateman said the legislation would also increase penalties for sellers who violate record keeping laws pertaining to secondhand jewelry and precious metals transactions.
Anyone purchasing secondhand jewelry and fails to comply with certain requirements, Bateman said, is presumed to have violated State law concerning receiving stolen property.
Violate once, it's not good, violate twice, it's still not good and you could face double the fines for subsequent offenses with repeat offenders facing up to $2,500 in fines.
“New Jersey has strict jewelry and precious metal record keeping laws to track and recover stolen valuables,” Bateman said. “This legislation will further protect consumers and deter nefarious sellers from illegally buying and selling stolen goods.”