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!

Jewelry Store vs Pawn Shop: Which is the Best for You?

Jewelry Store vs Pawn Shop: Which is the Best for You?

When people in the Inland Empire are in the market for jewelry, most head straight for their local jewelry store, or to the nearest mall’s huge chain store. However, there are those who consider other options, such as pawnshops, which is fortunate because pawn shops in most cases can save you quite a bit of money on their jewelry investment.

Not only that, but retail jewelry stores and pawn shops have some significant differences that affect the buying process. Some reasons that a pawn shop may be right for you are:

You won’t pay more for trends or brands

For one, unlike retail jewelry stores, pawn shops have the ability to price their gold pieces according to the ever-fluctuating price of gold, whereas design and manufacturing heavily affect the price in a retail jewelry store. That means that in a pawn shop, you are more likely to find a great deal on a name-brand piece than anywhere else. Your pawnbrokers are able to give you a great deal on gold if you visit them at a time when the price of gold is favorable to your needs.

No middle man

Retail jewelry stores buy wholesale and mark their products up around 100%. In the case of the huge national chains, they also invest heavily in advertising and pass the expense of all those television, radio and print ads on to the consumer.

Meanwhile, pawnshops can typically sell similar items at a discount because there is no middle man to force them to earn a considerable profit. Pawn shops essentially cut out the middle man and pass the savings on to you.

Pawn shops will work with you

Pawnshops are unique because they also present an opportunity to trade in unwanted but valuable items for cash or towards the purchase of the jewelry that you want. This makes buying jewelry more accessible to more people. While some retail stores will jewelry in trade, your local pawnbroker is able to give you a higher value on the item in exchange. This is because pawnshops have a multitude of ways to resell jewelry. For example, they can sell jewelry as is, or they can sell precious stones or gold to local jewelers. A retail jeweler usually does not have such flexibility.

What about selling?

If you’re looking to sell your jewelry, a pawn shop is still likely your best option. This is because a retail store must be interested in your specific item in order for them to buy it. If your item isn’t popular or rare or vintage, it is unlikely to sell, causing them to turn your item down.

A pawnshop, on the other hand, doesn’t need to worry about the popularity of an item. The weight and carat of the precious metals and gems in your jewelry are far more critical to your pawnbroker.

Also, if you are not exactly ready to part with your jewelry forever but are still in need of some quick cash, pawnshops can offer you a loan against the value of your items. You can get the money you need without the wait and credit check of a bank or payday lender, as well as keeping your credit rating safe.

If you repay your loan in time and do not pay late or miss any installments, you will get your item back. Not only will you get to keep an object with great sentimental value, but you will also be able to take out a loan against it again in the future if necessary.

How much will a pawn shop pay for my jewelry?

The price a pawn shop will pay will vary because it depends entirely on how much a particular pawn shop will pay for your items. However, you can expect offers that range between 50% – 60% of the value of your jewelry. Don’t forget that a pawn shop is a business, and to keep their business healthy, they must sell everything in their shop for more than they paid for it.

This means that although you now know that a pawn shop is the best option for you when it comes to buying and selling jewelry, you must still do your due diligence. So, before you visit your local pawn shops, take the following steps:

Do online research – learn as much as you can about the jewelry you are interested in buying or selling. Go online and search retail prices, completed online auctions, and trends of the cost of the precious metals in your item. This will give you an idea of how much you can expect to pay or be offered.

Do in-person research – many shops do not advertise all of their prices or pieces online, so visit retail jewelers and pawn shops to see what similar items are going for. Ask the retailer or pawnbroker what they might expect your article to go for.

Have realistic expectations – keep in mind that if you choose to buy from a retail jewelry store, you are almost guaranteed to pay more than is necessary, so don’t go in expecting to cut a deal or trade an item for it. And if you buy from a pawn shop, you may not find the exact custom piece you were hoping for but will get a great deal. If you are selling, remember that about 50% of the item’s value is a typical amount that a pawn shop will pay.

Haggle respectfully – it is fine and expected to try and negotiate for a better price at a pawn shop. We are always willing to work with customers to find a deal that works for everyone. But, know when to back down. You can still walk away and try again another day or at another shop if something just doesn’t feel right.

Visit our Showroom in Ontario today and see firsthand why more and more people are picking Central Mega Pawn as the best choice for all their jewelry buying and selling needs. We have been serving the community for many years and are looking forward to many more.

Top 5 things to know when pawning anything at a pawn shop

Top 5 things to know when pawning anything at a pawn shop

Most people who need a quick loan and do not want to pay the high cost of a payday loan, where APR’s can be as high as 400% (see our blog on payday loans vs pawn loans) or go through a credit check and all the additional requirements of a personal loan, a pawn shop is a great alternative. Since Pawn Shops offer short term loans on most items of value, in California for instance the pawn loan term is just 4 months, it is easier and cheaper for many to find an item to pawn than to deal with credit cards or payday loans. However, before you go into any pawn shop to get a quick cash loan there are a few things to keep in mind.

1. Pawn Shops Can & Will Negotiate – So be ready but don’t be rude… as the old saying goes you can catch more fly’s with honey than you can with vinegar. Knowing the value of your item is one thing but what your really want to know is what is lowest reasonable amount you will except and of course just how much money you need as this is a loan and you are not selling the item. Having this information worked out before you step foot inside a pawn shop will put you in a position to work with them in a meaningful way to get the best value for your loan.

2. Make Sure You Have A Valid Form of ID – Pawn shops are heavily regulated and must adhere to strict laws regarding lending and so must require that anyone receiving a pawn loan be documented accordingly. This helps to prevent issues such as fraud and other issues from taking place which helps to make a pawn loan an extremely safe type of loan to get. For most pawn shops a valid drivers license or state ID card will do though they must be current, also acceptable are military ID and Passports, as long as they are valid, student I.D’s and expired I.D’s will not cut the mustard.

3. Not All Pawn Shops Are The Same – From customer service to inventory to size there are all types of reasons that make pawn shops different from one another this includes how much they will offer on your item for the loan they provide you, so it is always best to shop around. Some pawn shops will even increase the amount they will loan on an item if the customer has taken out loans in the past and has a good history with them. For this reason many people will settle on one local pawn shop that they like to get loans from.

4. Interest Rates on Pawn Loans are Regulated By The State – This is one of the reasons that pawn loans can be such a good choice for those in need of some quick cash for a short time. What this means is that you will not pay more than the State Allowed Limit of interest that can be charged on a pawn loan. That being said the interest you pay can play into your negotiations for the best pawn loan as knowing how much you will be paying back may also help you determine just how much money you want to borrow.

5. Make sure whatever you want to pawn is real, has actual value & works – Most pawn shops will not lend on anything that is not in working order, though this may seem like common knowledge we see time and time again individuals get up to the counter with an item such as a drill or a computer that just doesn’t work. Pawn shops will always test an item right at the counter to make sure that it is in working condition before they make an offer. One of the few exceptions to this is jewelry , broken or not as long as it has precious stones and metals you are almost sure to get a loan. When it comes to jewelry authenticity counts a heck of a lot more than functionality. Pawn shops see their fair share of fake jewelry, from some who know it is a fake and those that have no idea, and will always run tests on the stone and/or metal to check its authenticity and its value.

For millions of people around the U.S. Pawn Shops are the first choice when they need a quick short term loan and for good reason. This being said pawn shops are also a great place to sell any of your unwanted or unused merchandise with payouts that are always negotiable so if you do find yourself looking for a pawn shop to get a loan from you may also want to look around and see if there are items you may wish to sell instead.

Do Pawn Shops Loan Money on Electronics?

Do Pawn Shops Loan Money on Electronics?

When you need quick cash, a reputable pawn shop near you is a great place to work with. The strict regulations that pawn shops operate under in California make them a safe bet for your business. More and more people are turning to pawnshops to meet their financial needs, and your local pawnbroker is in a position to help you.

If you are considering pawning some of your property for cash, you will get more money if your items are in-demand and saleable. Pawnshops in your area are there to help their communities, but they must also ensure that they will be able to sell items at a profit if the pawned articles go unredeemed.

Electronics are smart things to pawn if you find yourself in a financial pinch. In-demand electronics in excellent condition are among the handful of items that all pawn shops can use. However, not all electronics will fetch similar payouts. Keep reading to find out what factors affect how much you can expect for your electronics at a pawn shop near you.

First, keep in mind that unlike other frequently pawned items, such as jewelry or tools, electronics do not retain their value over time. A two-year-old tablet is worth only a fraction of what a six-month-old tablet is worth. Your local pawnbroker must take into consideration that an older electronic will be difficult to sell if its ticket is not redeemed.

More than any other pawned item, electronics require a pawnshop to stay on top of the news on both the marketplace and general technology trends. Introduction of new models and innovations in technology can render an item obsolete seemingly overnight, causing prices and demand to plummet. However, some brands, like Nikon and Apple, retain their value longer than others, even for older generation models. Brands like these may be more useful to your local pawnshop and will get you more money.


What factors affect how much money i can get for my electronics?

Age and Condition

Generally, pawnshops prefer electronics that are no more than two years old. Items older than two years old are risky for a pawnshop to purchase, as it means that the article may soon be outdated, if it isn’t already.

Also, electronics in good condition are easier to sell than chipped, stained or otherwise cosmetically damaged items. Even if your article works perfectly, a blemished product will affect how much your pawnbroker can charge for it.

Completeness

Customers expect that electronics come with as much original packaging as possible, including chargers, manuals, cables, and accessories. Electronics that come with such peripherals will command a higher price than those without. For example, a video game console with its controllers, cords and maybe even a handful of games, will be easier for your pawnbroker to sell than a console by itself.

Customer Relations

Pawnbrokers like to stay on good terms with the members of their community. Repeat customers who repay their loans on time are likely to get more for their item because they are considered a low-risk customer to their pawnbroker.

Customers that your pawnbroker has never seen before, or who have earned a history of non-payment may be considered a risky bet and may not get top dollar for their electronic item.

So now that you know a little about what factors may influence how much you can expect for your electronic, here are some tips on selling your electronics at your local pawn shop.


How do i sell my electronics at my local pawn shop?

Find out if your item is in demand

Check out what items like yours have recently sold for online to get an idea of how much you can realistically expect your local pawnshop to pay for your article. Online sales will tell you and your pawnbroker about the national demand, which will help set a baseline for how much you might receive for it. If your old electronics aren’t in demand online, chances of a big payout for you will be slim.

Clean it up

If your item is popular, you’re in luck. The next step is to clean up your piece. The closer to new that you can make your electronic look, the less work your pawnbroker will need to do to get in shape to sell, which may be reflected in the price that you are offered.

Test it out

It should go without saying that your item must work as expected; be prepared to demonstrate to your pawnbroker that your electronic is in excellent working condition.

If your electronic item does not work, it is worth little else than as a paperweight unless it can be sold for parts.

Collect all the parts

Having all the cables, manuals and accessories that go with your item will get you a little more money than the thing by itself. Whatever you, and by extension, your pawnbroker can add to the bundle will increase its perceived value to a potential buyer.


At the pawn shop, be prepared to:

Show your ID

Pawnbrokers in your area are careful not to purchase stolen items. As a security measure, they will require legal identification from you before they will consider extending an offer. Be sure that your ID has not expired and that it contains current information. If your ID does not have your current address, you should consider bringing along a piece of business mail less than thirty days old as a show of good faith that your local pawnbroker is reputable.

Negotiate a little

While it will depend on the item, your local pawnbroker has a little wriggle room when it comes to electronics that are new or in high demand. Do not take advantage of it, but keep in mind that pawnbrokers are willing to work with you to find a solution that satisfies everyone.

Understand your pawnbroker’s position

Most local pawnbrokers like Central Mega Pawn are experts in their communities; they know what will sell better in Ontario than in, say, Upland, Chino, or Pomona. Don’t take it personally if they decline your item or offer less than you expected. You can either negotiate or ask where they think you might get more for your money.

For more information feel free to contact one of our pawn professionals at 909-627-9622