Dunno whether this is the most relevant thread to refresh, but I am responding particularly to the last two posts (from six years ago).

The first version that I came across was in one of Bert Lloyd's radio programmes, where he attributed it to a Sydney street singer called Blind Billy Huntingdon. The words are not the same as those from Carthy in the 07 Oct 04 - 05:28 AM post but they are pretty close. In particular the apprenticeship is in London and the encounter with the girl is in Wapping on The Highway. The word "shout" in the last verse confirms this as an Australian version.

Here's my transcription, from a tape of the radio programme.

It was in the city of London, apprentice to trade I was bound.
With plenty of bright amusement to make me days go round.
Till misfortune and ruin came over me, which caused me to stray from the land.
Far away from me friends and companions, betrayed by a black velvet band.

Chorus

Oh her eyes they shone like diamonds.
You'd think she was queen of the land,
With her hair hanging over her shoulder,
Tied up with a black velvet band.

As I was walkin' through Wappin', meanin' not long for to stay,
Who should I see but a pretty young girl, come trippin' along The Highway.
She was so tall and handsome and her neck it was just like a swan.
And her hair hung over her shoulder, tied up with a Black Velvet Band.

Chorus

I took a stroll with this pretty young miss and a gentleman passin' us by.
I could see she meant a-doin' of him, by the look in her rollin' black eye.
And his watch she lift (sic) from his pocket, me lads, and she put it straight into me hand.
And the peelers they quickly arrested me. Bad luck to the black velvet band.

Chorus

Before the judge and the jury, next morning I had to appear.
And the gentleman swore to (the?) jury, and the case against me was clear.
I got seven years penal servitude, all the way to Van Diemen's Land.
So far from me friends and relations, betrayed by a black velvet band.

Chorus

Come all you jolly young fellers, I'll have you take warnin' by me.
I'll have you beware of the ticklesome girls with the garter on their knee.
For they'll shout you to whisky and gin me boys, until you're not able to stand.
And before you can get away from 'em, you're bound for Van Diemen's Land.

Chorus