Even if you do meet all of your payments, the main difference between pawning diamonds and jewelry and selling diamonds and jewelry is that whereas selling generates cash, pawning only lends you money that you have to pay back with interest.
You can sell your items to a pawnbroker but they are not diamond specialists.
Do you get more if you sell or pawn?
The main benefit of selling is that you get a much higher value compared to pawning. If you had a watch worth $1,000, the loan you’ll get when pawning may only amount to $300. If you sell the watch, however, you may get up to $800.
How much do pawn shops give for jewelry?
If a pawn shop offers you $720 for jewelry, what is it likely worth? For most pawn shops the common belief is they will offer your 40% of the value of your merchandise and settle for around 50% “generally”.
Is worthy a good place to sell jewelry?
Review: Worthy markets itself is a great place for the divorced and jilted to sell expensive engagement and wedding ring via auction. However, because many of the site’s buyers appear to be jewelers and jewelry designers, the site may do better at selling the stone in your ring, rather than the ring itself.
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.