After the hearing the trader, Oliver Wain-Ferns, said the jewellery - which cost him pounds 1.84 a set - was easy to sell to gullible tourists. 'But I find the English even more gullible than the tourists. They snap them up.'
Horseferry Road court in central London was told that Wain- Ferns, 31, of James Street, Marylebone, was arrested while trading illegally outside Harrods in Knightsbridge in the run-up to Christmas.
The magistrate, Roger Davis, said to him: 'You make a very large profit, don't you? And this stuff is very cheap, isn't it?
'Each item is only worth about 1p, and I know that from a recent case I had.'
Wain-Ferns, who admitted six counts of obstructing the footway and trading without a licence, replied: 'They're worth a bit more than that.'
He was fined pounds 144 with pounds 60 costs, and was ordered to pay outstanding fines of pounds 275 at pounds 10 a week.