How To Get The Most Cash For Your Pawned Jewelry
When you need cash quickly, a pawnshop is an excellent venue for you to use. If you have jewelry that you don't need for a while, you can consider pawning it to get the funds that you need. A pawn is different than a sale. Pawning your jewelry means that you are allowing the pawnshop to hold your precious gems for a certain amount of time in exchange for cash. You have to pay the money back, but if you do within the time frame you've agreed upon, you can get your jewelry back in your hands while still being able to meet financial needs. Here are ways you can get the most money for your jewelry when you pawn it.
Do a Smaller Time Frame
If you do a contract with the pawnshop that you will pay the money borrowed back within a few days or weeks, you may be able to get more cash for your jewelry. This is because you become less of a liability to the shop itself. They have your jewelry should you fail to meet your end of the agreement, and can place your items for sale on their shelves quickly to recoup the funds they have loaned you. Only go this route if you know for a fact that you can pay all the money back within the time frame you've agreed upon, or else you risk losing your precious accessories forever.
Know Your Stones
Before going into any pawnshop with your jewelry, make sure you know how much your stones weigh, what kinds of stones they are, and even if they are real. In short, have your jewelry appraised by a jeweler before taking them in for pawn. You want to know the true value of the stones and precious metals so you can bargain a fair pawn price. Note that pawnshops usually pay far less than what the value of your jewels are for their own protection, so they can make a profit should you fail to make payments on your pawn. Still, knowing how much your gems are actually worth can help you get the most borrowing power possible.
Pawn Multiple Pieces at Once
If you need a sizable amount of cash, you better have the jewelry to back it up. For this reason, it's best to pawn all your jewelry at once, instead of one piece at a time. The more value you can bring to the table, the more likely a pawnshop is going to take you seriously and give you a close amount to what you realistically need.
Pawning your jewelry can help you get the funds you need for an emergency or unexpected bill. If you play your cards right, you can end up with a great amount of cash, and a decent payment plan to repay the pawnshop so you can get your jewelry back safe and sound.