Sell Diamonds to a Pawn Shop or a Jeweler

February 29, 2020 - Jewelry & Luxury Items

There has never been a better time to find alternate ways to augment income.

Whether you are a low-income American, in need of a quick loan, or have a less than stellar credit score, selling diamonds is a great move.

But if you want to pawn diamonds you need to have a plan. A pawnshop is a great way to get a loan or get cash fast, but there can be drawbacks.

Before you head to a retail store or seek out diamond jewelry buyers, find out more about a pawnshop.

Here’s how to use a pawnbroker properly.

1. Set Realistic Expectations

For many people, the decision to sell pearls or diamonds to a pawnbroker may bring an emotional connection. You may be interested in selling a family heirloom or a treasured piece of jewelry.

But it is essential to set realistic expectations before selling a piece. You won’t get retail value for a treasured piece of jewelry, no matter the quality or condition.

In addition, you should likely discard the amount you believe someone paid for it. Like a car, jewelry tends to lose value as soon as it leaves the store.

That said, it is easy and satisfying to sell gold diamond jewelry with realistic expectations.

2. Pawn Diamonds With Negotiation in Mind

No matter the value you believe you are entitled to with a piece of jewelry, one of the benefits of a pawnbroker is the negotiation.

No price is set in stone when you pawn diamonds. You should walk in the door preparing to make a counteroffer.

Remember, when you negotiate to leave emotions at the door. Your only objective is to get the best value for your possessions.

While it is important to have a realistic idea of the value on the market don’t let any numbers deter you from seeking a great price.

3. Find a Reputable Pawnbroker

Not all pawn shops are alike. Before you approach a pawnbroker it is important to do your research.

Ask for references and referrals to know you are in good hands.

4. The 4 C’s

If you are familiar with diamonds, you know they are judged by the 4 C’s. Cut. Clarity, Color, and Carat.

While you can use a small kitchen scale to gauge the weight, you may need to ask an expert on the other items.

You may want to consult an appraiser or a number of pawnbrokers before making your own valuation.

Beyond The Diamonds

Diamonds aren’t the only way to make cash from your jewelry. In fact, you can often find many ways to increase your income with your old possessions.

If you are one of the many Americans who lives in debt and thinks it will always be that way, pawning possessions may be the key.

You don’t have to pawn diamonds. There are many other items that are sought after by pawnbrokers.

Video game consoles and musical instruments are a few items that can bring fast cash.

Come find out more about the most sought-after possessions by pawnbrokers.

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.

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