To David, a jewelry supplier in the tri-state area, business conditions are dismal. “It’s never looked this bad, and it’s getting worse,” he recounts, recalling his 20+ years in the industry. Many local jewelers in upscale, downtown areas across the Northeast are doing little more than changing watch batteries, or making an occasional small fix to earrings. “They’ve been reduced to pawn shop status,” he says, with palpable disgust.
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