Jewelry store owner rebuilds after $500K burglary loss
COLONIE—Longtime jeweler Rafi Topalian is working to rebuild his business after a burglary at his store on Monday, Aug. 26, resulted in an estimated loss of half a million dollars in jewelry, heirlooms, and cash.
The theft at Top Custom Jewelers, located on Troy-Schenectady Road, occurred around 10:30 p.m., a time when all the stores in the plaza were closed. The burglars smashed display cases, raided a refrigerator-sized safe, and vandalized the store by discharging fire extinguishers to cover their tracks, according to Topalian.
The burglars gained entry through the back door of the store after cutting phone lines to disable the alarm system. Topalian said investigators from Colonie Police and State Police are reviewing evidence, including video surveillance from a nearby business and potential DNA traces, to identify those responsible. He has shared grainy images of the thieves, but there has not yet been a break in the case.
Topalian, who has been in the jewelry business for 31 years, described the emotional and financial toll of the crime.
“It felt like a violation,” he said, likening the loss to a retirement fund. Despite the setback, he reopened the store within a week of the burglary.
“We cleaned up and got back to work,” Topalian said, emphasizing his dedication to serving customers. With the help of subcontractors and friends of the business, he is working to rebuild the store’s interior and replenish his inventory, which included high-end watches, gold coins, diamond rings, and estate and vintage jewelry accumulated over the years.
“I would say the first 20 years, I was just making a living, but I started incubating some inventory over the past 10 years. In the last three to five years, it really went into overdrive,” he said. “Perhaps it was because of my networking and my ability to sing. It upped my profile and may have made me more of a target.”
Topalian, known locally as the “Singing Jeweler” for his performances at events such as Saratoga Race Track and local veterans’ ceremonies, credits his faith and community connections for helping him persevere.
“Faith, family, and the love of the community sustain me,” he said.
The community has rallied around Topalian, organizing fundraisers to provide financial support, with details shared on Facebook.
“I’ve been humbled by the support and sense of caring,” he said.
The fundraising efforts will help Topalian rebuild his inventory and may also allow him to hire a private investigator to assist in the case.
Despite the setback, Topalian remains optimistic about the future of his business.
“We will rebuild with humility, ethics, and a sense of community,” he said.
The burglary also serves as a reminder for businesses to review their security and insurance policies, Topalian said.
“This has been a hard lesson, but we are determined to move forward stronger than ever.”
Local police and the state’s Jewelry Vigilance Committee are continuing their investigation. Topalian is asking anyone with information about the burglary to contact the Colonie Police Investigations Division at 518-783-2754 or visit capitalregioncrimestoppers.com. He has offered a reward for information leading to an arrest and conviction.
“As we approach Thanksgiving, I do have a lot to be thankful for. Right now, I’m focusing on serving customers one at a time and doing my best with what I have,” Topalian said.
With that spirit, Rafi the Singing Jeweler will open the Troy Turkey Trot in his hometown on Thanksgiving morning by performing the National Anthem.
