Whether your jewelry box is overflowing with unwanted pieces or you've run into a difficult financial space, you may be able to turn your bling into instant cash by walking into your nearest pawn shop. We've all run into difficult times at one stage or another where we need to earn cash quickly. A pawn shop is a perfect way to do this.
Pawnshops are in the business of loaning money against high-value items. They then use these items as collateral until the customer has paid back the loan in full.
Jewelry is one of the most popular items to sell or pawn because it is of high value and most people can live without it for a while.
Most pawnshops have staff who specialize in jewelry appraisals so they will be familiar with the fineness, cut, and value of the jewelry.
Selling your jewellery to a pawnshop
To get the most of your unwanted jewelry at a pawn shop, be sure that you are armed with knowledge in terms of how much your jewelry is worth. It is always a good idea to get an independent appraisal of your jewelry before taking it into a pawn shop, this will ensure you can negotiate the best possible deal. It is also advisable to get at least three different estimates on your jewelry from different pawn shops.
Be sure to get the offers in writing. This way you'll get a sense of what the market is
willing to pay for your piece.
Getting the best price for your jewelry
Know the worth
One of the most important aspects of selling jewelry at a pawn shop is to know its value. This gives you negotiating power. If you are clueless about what the value of the jewelry is, you are left to take the word of the pawnshop owner, which might not always be accurate.
The pawnbroker will make you an offer for your jewelry and tell you this is the highest they are willing to go. Most times you can get more than what is offered which is why it is imperative to know the value of the item/s you are selling. Never expect to get the full value of your jewelry at a pawn shop, but with a little persistence, you can often get more than what is offered upfront.
Presentation is key
Ensure your jewelry is well presented when going into a pawn shop. If you have the original packaging or certifications, bring that in. Clean up your jewelry.
Even the most expensive pieces will not bring good money if they are dirty or in poor condition.
Advantages of selling your jewelry at a pawnshop
Probably one of the biggest benefits of selling jewelry at a pawn shop is the speed of the transaction. If you are in a crunch for money visiting a pawnshop will get you to cash immediately.
Unlike jewelry stores, pawnshops are extremely flexible in the type of jewelry they buy and the condition thereof. If your item is in good condition the offer you get will be based on its resale value. You will even get an offer on a piece that is considered scrap.
Pawnshops monitor market prices for precious metals and adjust their pricing accordingly. This enables them to often offer more than what even jewelry stores can. Your local pawn shop will help you turn a profit on any item regardless of its style or condition.
So, the next time you are wanting sell some unwanted jewelry be sure to visit your local pawnshop. You'll be able to strike up a great deal for your jewelry and most of all walk out with cash in hand.