How to Pawn Jewelry

March 01, 2020 - Jewelry & Luxury Items

Wondering how to pawn jewelry?

From rings and watches, to bracelets and necklaces, our tips on how to pawn jewelry will make this process as simple and convenient as can be.

We break down the pawning process so that you know what to expect when you enter a pawn shop. First, let’s back up and talk about the steps you need to take prior to discussing a transaction with a pawnbroker.

How to Pawn Jewelry: Don’t Mix Emotions with Business

Pawning jewelry can often be an emotionally trying task. You might be forced to pawn a piece of jewelry because you are in a situation where your finances have been compromised, which is burdensome enough to begin with. On the other hand, you might be sadly parting ways with a piece of jewelry that had sentimental value.

Whatever your situation, it’s important that you focus on getting the most value out of the transaction. In order to do so, do not mistake sentimental value for monetary value. If a pawnbroker quotes a price that doesn’t seem as large as your attachment to the piece of jewelry, do not react negatively.

Staying cool and collected will position you to negotiate a higher price and will prevent you from starting your business relationship off on a bad foot.

If it comes down to it, you can compare offers from multiple pawn shops in your area. You have options! You can even leverage other pawn shop offers to negotiate a higher price.

How to Pawn Jewelry: Prepare Your Jewelry

Gather all the Pieces

Do you still have the box that your ring came in? What about the small diamond that fell out of your necklace pendant? A certificate? Whether your jewelry has a broken chain or a missing stone, try your best to gather any pieces that originally came with the jewelry. The more complete your offering is, the better your offer price will be.

Clean Your Jewelry

Make sure you clean your jewelry prior to bringing it to the pawn shop. The jewelry will have engraved markings on it, oftentimes in inconspicuous places, and you’ll want to make sure the pawnbroker can clearly see them. These markings can be very tiny and they are used by the pawnbroker to help indicate the value of your jewelry piece. Make sure you are careful when cleaning your jewelry.

Stay away from drains while cleaning your jewelry and make sure that you don’t use abrasive materials. Be sure to reach the tight spaces of the engravings and jewel settings. Don’t only polish the metal—shine up those stones, too!

How to Pawn Jewelry: The Transaction

1. Post Your Jewelry for Sale

Until recently, in order to get offers from a pawnbroker you were required to physically enter a pawn shop. Not anymore! With PawnGuru, you can create a free online listing for your jewelry that all pawn shops in your area can see. Visit PawnGuru and create a listing in a matter of minutes.

2. Collect Offers

After your PawnGuru listing is live, multiple pawn shops in your area will begin to send you offers online. You can compare these from the comfort of your home and decide which one you will accept.

3. Enter the Pawn Shop

Once you decide which pawn shop offer to accept, visit the shop in your local area. This is the part where you will meet the pawnbroker in person and make the final transaction happen.

4. Get Cash in Hand

When you hand your jewelry over to the pawnbroker, you typically have two options. You can pawn the jewelry, using it as collateral for a small loan at the value it is appraised, or you can sell it to the shop for that appraised value.

If you decide to pawn the item as collateral, the shop will store the item in a safe place until the agreed-upon date by which you need to pay the loan back. If you pay your loan back on time, you will receive your jewelry back.

David Stiebel
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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Avatar for Tyler Meredith

Tyler Meredith

October 6, 2016, 12:33 AM

I like what this article mentions about getting multiple offers. It makes sense that it could be beneficial to get multiple offers on a piece to see just how much money you can get from the pawn. I’ll have to keep this in mind when looking to pawn a piece of jewelry as I want to make sure I get enough money to handle what I need.

Avatar for Harper Campbell

Harper Campbell

July 14, 2017, 3:55 PM

I am in need of some of quick cash. It’s good to know that when it comes to pawning jewelry there are somethings that I need to remember. I am glad you reminded me that I need to not get emotional about everything, so that I can get the most value our of what it is that I am pawning.

Avatar for Kayla


October 11, 2017, 8:09 PM

Thanks for this info and tips. My sister is planning to pawn her jewelry set because she wants to buy a car. She’s now looking up some pawnshops where she can pawn her jewelry.

Avatar for Jay


June 21, 2018, 8:02 PM

I really like that first tip about making a complete offer to a pawn broker of jewelry. Having a complete set of the full matching pieces is sure to make a fabulous price. Do you have any more tips about presenting jewelry to the pawnbroker?

Avatar for Sarah Smith

Sarah Smith

September 6, 2018, 2:14 AM

I really appreciate your advice to clean and repair your jewelry before pawning it to receive a better offer for it. My husband and I are a little short for cash and figure that this would be the best way to get a loan fast. Maybe we should use jewelry that we don’t have a connection with so that if we end up not buying it back, we’ll be alright.

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