What to Know to Buy Diamonds from Pawn Shops

January 13, 2020 - Jewelry & Luxury Items

Thinking about buying diamond jewelry from a pawn shop?

It’s a great idea, especially if you like the thrill of the hunt.  It’s also fun to recycle vintage jewelry and make it yours.

But how do you know the true value of the diamonds you find?  How do you identify a legitimate deal and a good value?

That’s the subject of today’s article. Read on as we’re revealing three essential components of buying diamonds from pawn shops.

1.  Research

The first step is to gather as much information as you can.

Start by reading reviews of local pawn stores on PawnGuru.  Ask friends and family for recommendations of any pawn shops they’ve visited.

Find out how much pawn shops pay for diamonds. Learn as much as you can about diamond quality factors so can distinguish between a valuable diamond and a low-quality one.

2.  Get Proof

Legitimate diamonds should always come with records from a gemologist. These papers certify the weight and materials of the diamond. They also acknowledge its appraised value.

It’s common practice for legitimate diamonds to have accompanying papers.

If the diamond comes with papers it is worth more.

3.  Negotiate

One advantage to buying diamonds from a pawn shop is that, unlike with traditional jewelry stores, you can negotiate the price.

Don’t be intimidated to negotiate. Embrace the process and have fun with it. Learn how to negotiate better than anyone. It’s easier than most people think.

Just by partaking in the negotiating process, you’ll get a lower price than the item was originally listed for.

You can also trade in old jewelry and put it towards the diamonds you want. Trade-ins are another advantage to shopping in a pawn store, and can potentially save you hundreds of dollars.

Buying Diamonds from Pawn Shops the Smart Way

Buying diamonds from pawn shops is a fun way to buy unique jewelry. You’ll also pay less than you would at a mainstream jewelry store.

Have fun with the process.

David Stiebel

David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.

More Articles


Comments are now disabled