Where Can I Sell My Loose Diamonds?

Where Can I Sell My Loose Diamonds?

Arriving at the decision to sell your loose diamonds can be a significant and emotional moment. Regardless of your reasons for doing so, the decision to sell should not be done on impulse or left to chance. Before you take the massive step of selling your loose diamonds, read our guide on your options, and how to maximize your return.

First, figure out where you will sell your diamonds. Although diamonds and other gemstones aren’t everyday commodities, there are lots of places willing to buy your diamonds. While some people take their chances with a direct online buyer, auctions, or consignment stores, an especially smart option is your local pawnbroker. A pawn shop may be more open to buying diamonds of varying value and quality and can get you cash in hand in minutes.

Next, understand that diamonds are not rare. Therefore, the value of your diamond may depend on what’s referred to in the gem industry as the “Four C’s”:

  • Cut: Cut refers to the angles cut into a raw diamond by a craftsman. These cuts are designed to optimize the reflection and refraction of light through a diamond. Of the “Four Cs,” cut is usually considered the most heavily-weighed factor in determining a diamond’s value, as it dramatically influences the diamond’s and brilliance.
  • Color: Color actually refers to a lack of color in a diamond. According to the Gemological Institute of America (GIA), the diamond color scale ranges from D (colorless) to Z (light yellow or brown). This scale excludes unusual colors like pink, blue-green, yellow or red diamonds. If your diamonds happen to be one of these fancy colors, you’re in luck: fancy colored diamonds are becoming increasingly rare.
  • Clarity: Clarity is a scale of imperfections of a diamond. The level determines the number, size, and location of the flaws relative to the size of the diamond and the resulting overall impact on the appearance of the stone. There are 11 potential grades, from “flawless,” which are extremely rare and valuable, to “included,” which has flaws clearly visible to the naked eye.
  • Carat: This is the unit of measurement of the weight of diamonds. One carat weight is the equivalent of .02 grams; the value of a diamond increases sharply the bigger it is. You should keep in mind that the value of a diamond is based on the cumulative score of the “Four Cs”; carat weight alone will not tell you enough about the quality of your diamond to gauge its potential value.

If your loose diamonds are exceptional one or more in these regards, you may expect a higher price and increased interest from your potential buyer.

Understand your diamond and its value

You should know as much as possible about your diamonds before you attempt to sell them. Although it may cost you a little upfront, you should get them certified; certification is worth the investment because it will tell you the value of your gemstones. Being educated about your diamonds will put you in a position of strength when it comes time to haggle and can get you more money for them.

Research your potential buyer

Your diamond buyer should be knowledgeable about the gemstone market and should be willing to answer any questions you have about diamond buying and selling. Many pawn shops in your area may have a certified gemologist on staff or contract with one to do appraisals. Don’t be afraid to call around to find the right shop for you.

Don’t expect full value

While you might expect a cash offer of a significant percentage of your diamond’s worth, the fact of the matter is that you will need to adjust your expectations. Use the value of your diamonds as a starting point and aim for around 40 – 60%. Bring any certification, supporting documentation or paperwork to help you get the best offer. Your local pawn shop, or any buyer, for that matter, must be able to turn a profit on the items they buy and must take that into consideration when working with you.

But, don’t be afraid to haggle

Selling your diamonds to your local pawn shop will allow you to haggle on price, which is something you will not be able to do with most other buyers. However, many people shy away from negotiating or haggling, which doesn’t have to be the case. But you have more power and leverage than you probably think. If you approach your pawnbroker with respect, knowledge of your diamonds, and a realistic expectation of price, you can enter into peaceful negotiation and find a price that works for everyone. Most pawn shops are more than willing to haggle with customers and come up with a price both parties are happy with.

Don’t give into undue pressure

Trusting the buyer of your loose diamonds is essential. Selling your loose diamonds can be an emotional experience, and you may be especially vulnerable to making impulse decisions. Make sure you are not being pressured or being asked to agree to something that doesn’t feel right. If possible, bring along a trusted companion to look out for you. If something seems off, take a few days to consider your offer. A local pawnbroker like Central Mega Pawn will understand and will let you know how long their offer stands. They will never demand that you sell them your diamonds right there and then.

Be as objective as possible

We understand that selling loose diamonds can be a personal decision that may affect your whole family. But, to get the most much-needed cash in hand, you must remove as much emotion from the transaction as possible. Your local pawnbroker will not be able to offer you any additional money based on the history or sentimental value of your diamonds; getting a satisfactory deal will require you to keep your emotions out of the sale.

Selling your loose diamonds to your local pawn shop will get you the best return for your jewels. Our team of experts understands the second-hand market and will get you the best possible deal, getting you some much-needed cash in minutes.

Do Pawn Shops Buy High-End Fishing Gear?

Do Pawn Shops Buy High-End Fishing Gear?

Pawn shops are great places to find deals on a wide variety of items. From high-quality jewelry to power tools and everything in between, pawn shops are a great resource for buying and selling. They can also be an excellent resource when you are looking to sell your high-end fishing gear.

Fishing gear, such as reels, poles, and lures, are bought and sold just like any other item in the pawn industry. However, the price you can expect to get will vary depending on a few key factors. If you’ve got high-end fishing gear that is only taking up space and gathering dust, or if you could use some quick cash, keep reading to learn more about the factors affecting how much you can expect, and how to sell your fishing gear.

Quality and Condition

A huge factor in selling your high-end fishing gear is quality. Like lots of other items that come through your pawnbroker’s doors, the price they will offer depends a lot on its initial value. Your local pawn shop will consider the manufacturer, materials, and condition when appraising your gear. A pole that can be found for cheap at your local big-box store will probably not be desirable for most pawn shops.

However, custom pieces like poles or reels made by a highly sought after builder, or exclusive boutique items will command more money because the pawn shop will be able to charge a premium for it and can expect it to sell.

Of course, any gear you offer your pawn shop must be in working condition and should be as close to perfect and pristine as possible. Make it easy for your pawnbroker to sell your gear and you should walk away with a reasonable price.

Demand and Location

Pawn shops in land-locked areas where there are few opportunities for fishing will probably not be too interested in fishing gear, no matter how unique or functional. This is because the demand for fishing gear in that region is just not very high, and the shop will have trouble selling the items.

However, if you live in the Inland Empire or San Gabriel Valley, you’re not out of luck. There are many fishing opportunities in the nearby oceans, rivers, and lakes, all of which are an easy drive for the area’s many fishing enthusiasts. So, while demand for high-end fishing gear may not be as high as in places like coastal cities, there is a good chance that your equipment may still net you a reasonable price at your local shop.

Also, keep in mind that the time of year may affect your pawn shop’s ability to buy your gear. If it is the off-season, your pawn shop may not be able to buy your gear right away.

Accessories or Modifications

Fishing gear, especially the high-end stuff, can often feature sought-after accessories or modifications. If your gear happens to be in this category, be sure to keep on hand any authentication when selling.

Any documentation you can provide your pawnbroker that proves your gear is genuine and custom will help them give you a good price because it improves value. You may need to do some digging to provide your documentation, but it will be worth it when your pawnbroker offers you more than you expected.

Why You Should Sell to Your Local Pawn Shop

First, let’s admit that you have many options when it comes to selling your gear. Between auction sites, message boards and apps, there are several avenues for turning your used fishing gear into cash. So why choose your local pawn shop? Here are some compelling reasons:

  • No one becomes an expert fisherman overnight. Many beginners are ready to upgrade their gear and want to do so slowly and with minimal investment. The savvy ones will consider their local pawn shop to try gear out and take the next step in their learning.
  • Fishermen are always looking to try out new gear and find a bargain.
  • You’ll avoid paying fees for shipping, listing, and insurance. Selling to a pawn shop gets you cash in hand in minutes.

How to Sell

Before you begin offering your gear to your local pawn shops, consider the following points.

  • Do your research: explore message boards and online auctions to see what people are buying and what people are interested in. If you have popular gear, take note of how much people are paying.
  • Clean your gear: particularly the gear that beginners might be interested in, such as:
    1. Rods or poles
    2. Reels
    3. Lines
    4. Hooks
    5. Baits or lures

    Your local pawn shop may be interested in keeping items like these on hand for beginning fishermen who find their way into their shops, and you can make your gear more appealing by presenting it as clean as possible.

  • Learn how pawn shops work: keep in mind that at the end of the day, your local pawn shop must be able to turn a profit. They must be able to sell your gear to casual fishermen and experts alike and may not want to have a glut of inventory on hand. Don’t take it personally if they decline to purchase your gear.
  • Negotiate: learn to haggle and don’t be afraid to walk away if the offer simply doesn’t work for you. Before you walk into the shop, you should be aware of two numbers: how much your item is worth, and how much you want to sell it for. Work with your pawnbroker to find a happy medium between these two numbers to keep everyone happy.

For all these tips, keep in mind that not all pawn shops will be interested in or knowledgeable about fishing and fishing gear. It may take you some visits to find a place that is truly speaking your language. We, however, are eager to make you an offer on your high-end fishing gear. Visit us today and let us make you an offer!