February 11, 2020 - Jewelry & Luxury Items
What happens when you want to get rid of a diamond for needed cash?
Selling a diamond may be tricky. You need to do your research to know what a realistic price is for the diamond based on its size, cut, color, and clarity. You also need to find a trustworthy buyer.
Have you considered pawning diamonds for a quicker sale? If you have a diamond you want to sell or pawn, check out this article for details on how to get a reasonable price.
Before setting foot in a pawn shop or selling your diamond to another person, be sure you:
Now, let’s take a look at the benefits of pawning diamonds versus selling directly.
If you want to sell your diamond quickly for cash, a pawn shop may be your best option. Do your research before choosing a pawn shop.
You can list your diamond online to get bids from various pawn shops because you will find the price varies from store to store. This will let you know upfront what to expect from each shop. If you have a price in mind, you can see if any shop is willing to match.
Not all pawn shops are the same. These shops often specialize in areas such as electronics, jewelry, or designer items. This is why you should do your research before choosing a location.
After you get quotes, you should check for a pawn license and see if you feel comfortable with the company.
How does the pawn shop determine the price of a diamond? First, the quality of your diamond is evaluated. This includes cut, clarity, color, and carat (or size).
After the pawn shop reviews these characteristics, they will give you an offer. It’s always helpful to have that independent appraisal, so you have an idea of the quality of the diamond and what it’s worth.
Remember, pawn shops do need to make a profit, so you won’t get the full price of what the diamond is worth.
You should do what’s best for you and weigh your options. Decide what is most important to you.
If you need cash quickly, you can check out area pawn shops for quotes.
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
September 7, 2018, 8:09 AM
Hi David, I have inherited a diamond ring from my deceased grandmother. As the eldest grandchild, I’ve got this privilege from her. When she’s still alive, she told me that this will save me and others’ lives. It’s true because I need to sell it for my mom’s surgery. Thanks!