5 Things To Keep In Mind When Pawning Jewelry

2 Mins read

You may have come across a jewelry pawnshops where you can pawn your jewelry. Before you visit any pawnshop with your jewelry, let’s get this out of the way: Pawning your inherited jewelry is not the best option, especially if you received it from a loved one. You might be entrusted to safeguard the jewelry for future generations, or even expected to divide them up for the estate of the deceased. However, many people still continue pawning their diamond pieces, unconcerned. And you can’t blame them if you’ll take into consideration that selling their jewelry was the last resort.

Pawnshops are everywhere. Once in a while, a man or woman wearing shades would walk pawnshop to try to get a quick cash loan. Nothing wrong with that. Except that most don’t bother to do their homework before pawning their jewelry. Are you one of them? Rest assured, your life is about to get a little easier with this article.

Let’s dive in!

  1. Know The Going Price Beforehand

Figure out how much you’re likely to get from a pawnshop for that matter. This may be tedious but doing some research will save you some time. Find out what could be the estimated value of your jewelry. Just because your jewelry is old doesn’t necessarily mean it is worth millions. This expert recommends considering factors, such as today’s gemstone and precious metal prices, quality of workmanship, and the name of the designer.

  1. Know The Quality Of Your Jewelry

Pawnshops may or may not have highly experienced jewelry appraisers who can evaluate your jewelry using a systematic rating system. You as an ordinary person might not possess the knowledge and skills they have. However, that doesn’t mean there are no alternative ways of finding out what’s the value of your jewelry. If you have a diamond, for instance, there are certain elements that you can look at. They include:

  • Carat Weight
  • Clarity
  • Cut
  • Color
  1. Understand All The Terms Of The Agreement 

This means you need to double-check everything before you agree to pawn your piece. Go through the contract just to make sure that you are familiar with the agreement. And if you need some clarification, make sure you get it before signing on the dotted line.

  1. Locate A Right Pawn Shops

The next step is finding the right pawnshop, a challenge if you live in a city where there is a pawnshop almost in every street. The best way to locate the right pawnshop quicker is by reading Google My Business reviews. A good pawnshop should have an abundance of them.

  1. Negotiate Your Price

Not everyone is a natural-born negotiator, but if you have done your research well; negotiating shouldn’t be a problem. Also, it’s okay to walk into a pawnshop with a price in mind, but make sure that you don’t go overboard.

Looking for a reputable pawn shop where you can pawn your jewelry? Check out a pawn shop like Monte De Piedad for pawning your jewelry.