Most pawn shops usually pay about 30 to 60% of what a diamond is worth.
Once you add in the standard retail markup that’s applied to most diamonds, this means that you’ll usually receive an offer for a small fraction of the amount you paid for your diamond ring when it was new.
How much will pawn shop give for diamond ring?
The pawn industry helped fill the market demands for ‘used’ diamonds by helping to circulate the amount of jewelry that was available. Many PawnGuru users have been pleasantly surprised to find out how much cash they can get for selling their diamond rings at a pawnshop. Offers can range from $65 to $1,500.
What happens when you pawn a ring?
The Difference Between Pawning and Selling Your Ring
The pawnbroker will evaluate your ring and make you an offer. You will then get cash for the ring once you hand it over. However, you will be required to pay back the principal balance of the loan, including any interest and any fees agreed upon.
How much can you get for jewelry at a pawn shop?
For example, as of the day of writing this article pawn shops pay around $1250 for an ounce of pure gold. If you have 10k gold jewelry, you can sell it for $16.35 per gram, and 14k gold jewelry can be sold for 423.50 per gram.
How can I get the most money for pawning jewelry?
Here are 5 tips to keep in mind when pawning jewelry.
- Know the Value. You should know the value of what you have before you step foot in a pawn shop.
- Always Negotiate. You can negotiate for a better price.
- Clean Your Jewelry.
- Presentation Matters.
- Know the Gold Prices.