If you asked yourself “is pawning jewelry worth it” because you’re not sure if you’ll get enough money for it, or you’re not sure you’re ready to part ways with a sentimental piece, we’re here to help.
In this post, we answer your question “is pawning jewelry worth it” and we tell you how to pawn jewelry in the most effective way possible.
You don’t want to miss the end of this post where we teach you how to use PawnGuru to pawn jewelry online and get the best offer from pawn shops near you.
Is Pawning Jewelry Worth It: Sentimentality Vs. Payout
If your jewelry is too sentimental to part ways with for good, you need to consider if you’re going to be able to pay back your pawn loan if you pawn the jewelry. If you don’t pay back the loan within the period specified by the pawnbroker, they reserve the right to sell it.
If your jewelry is sentimental and you know that you’ll be able to pay the pawn loan back in time, it’s worth it to pawn it.
If you’re in desperate need of money and that is personally more important to you than being able to pay back your pawn loan to get your jewelry back, then it’s worth it to pawn it.
Is Pawning a Watch Worth It?
Pawning a watch is definitely worth it. Especially if it’s a Rolex or another high-end watch brand. You can get a decent amount of cash if you pawn a watch that has precious metals or stones such as silver or diamonds.
We suggest you read our post on how much pawn shops pay for watches so that you can gauge approximately how much money you can make on your watch brand.
Is Pawning Costume Jewelry Worth It?
You might be wondering if pawning costume jewelry is worth your time. The easy answer here is typically no, unless it’s antique and/or considered rare.
It’s very unlikely that a pawn shop with give you money for costume jewelry that has no precious metals or stones in it. However, if it’s a rare period piece, you might get some money for it.
Typically there is zero value in this type of bauble. But if you want to be absolutely certain that you can’t get cash for your costume jewelry, bring it to a pawnbroker for appraisal.
It’s Worth it to Pawn Jewelry Using PawnGuru!
Now that we’ve answered your question, “is pawning jewelry worth it,” you can feel confident enough to make a decision.
Before visiting pawn shops on foot, you can use PawnGuru to gather offers online from your local pawn shops. There’s no obligation to pawn your watch yet —you just start by collecting offers! This will further help you in your decision.
Here’s how to pawn your jewelry:
- List your jewelry online at PawnGuru—it’s free!
- Receive offers from pawn shops in your local area
Compare the offers
Accept the highest offer for your watch (no obligation!)
Enter the pawn shop to make the transaction