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MShore Law
MShore Law, Attorney
Category: Business Law
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Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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I own a pawn shop in Georgia. I bought a watch and have yet

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I own a pawn shop in Georgia. I bought a watch and have yet to re-sell it . I bought the watch over 90 days ago. Today, I am told by a jewelry store I tried to sell it to it was stolen. What is my present position?
Thank you for the post, I am happy to assist you by answering your questions. What evidence does the store have that it was stolen?
Customer: replied 4 years ago.
Please respond. Thank you.
Jeff, I did respond, less than six minutes after you posed your initial question in fact.I asked what evidence the store has that it was stolen.
Customer: replied 4 years ago.

I thought I responded. The store said the serial number indicated it was stolen. I have had the watch for over 3 months. After 30 days and a 10 day grace period I believe I can sell merchandise which was purchased as long as I had no idea it was stolen. In fact, I only have the jewerly store account that it was a stolen watch. In over 90 days the police have never contacted me. The jeweler said they reported the watch to the police approx. 75 days ago. I paid quite an amount for the watch and would hate to lose the watch and my purchase price.

Thank you Jeff, so long as the police have not verified that the merchandise was indeed stolen, you are free to sell the merchandise but only if you dispute the findings of the store or otherwise do not recognize them as being dispositive on the issue. However, if you have reason to believe that the store is correct in its assessment that the jewelry was stolen and the rightful owner is known to you, you have a duty to return the jewelry to the rightful owner. For your reference, here is an attorney general opinion memorandum on the subject:

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