If you’re in need of some fast money, and you’re looking to sell your jewelry, then a pawn shop is a great option. Selling necklaces, bracelets, watches, rings, or diamonds is an easy way for you to get some fast cash.
However, there are some things you will need to know before you try to sell your jewelry. If you’re looking to get top dollar for your jewelry at the pawn shops, and you want the transaction to go smoothly, here’s what you need to know …
How Much is it Worth?
The first step is to determine how much your jewelry is worth before you even try to negotiate a price. There are a couple of ways you can find out the value of your gold jewelry.
DYI Method – On the jewelry, look for a stamp. Those 14k, 18k, or 24k markings tell you the purity. If you have numerous pieces, then separate it according to the numbers.
Now, take a kitchen scale and weigh each one of those stacks. You can find out the price of gold online, but keep in mind that the price of gold changes on a daily basis, so the numbers you get today may not be the same numbers you get tomorrow.
You can use a gold calculator in order to determine the worth of your gold. You’ll need to input the weight in grams, and the karats. Subtract the weight of the gemstones and the other pieces that are non-gold.
The DIY option can be complicated to do, and may not be accurate, so we suggest the second option.
Pawn Shop Valuation – This option involves taking your pieces to the pawn shop and having them evaluated by the pawnbroker. A pawn shop that buys and sells gold will have the right equipment and knowledge to determine the price. They will look at the weight, value of gold, and purity.
Get Top Dollar from Your Jewelry
If you have the original packaging and papers for the jewelry you’re looking to sell, in order to get top dollar, bring them with you. Also, if you have any warranties that came with an item, such as a watch, make sure you bring that as well.
Jewelry Made of Other Metals
Many may be wondering if jewelry that is made of other metals, besides gold is capable of being resold. Yes, even platinum jewelry has value to it. Silver is another valuable piece of jewelry and some gemstones are quite valuable. If you have questions on the value of your jewelry, go ahead and speak with your local pawn shop.
When you’re looking for a good pawn shop, you need to go to a reputable one. Whatever you do, make sure the pawnbroker is reputable – a reputable business will ask for your photo ID because the law requires them to – they will also file a report in order to keep the trade safe.