The answer is an emphatic “yes!” Pawnshops are always interested in buying gemstones. If you have loose gemstones on hand, you may not know what to do with them. Instead of letting them gather dust or go unused in a drawer somewhere, turn them into quick cash at your local pawn shop, such as Central Mega Pawn!
Your options when it comes to selling gemstones
When it comes to selling gemstones, you’ll have lots of options. Thankfully, gemstones are almost always a seller’s market. This means that you can contact lots of places and choose the one that’s best for you. Popular places to sell loose gemstones are:
- Auction websites – sites like eBay and eBid are popular, but because buyers rely on sellers to accurately depict and describe the gemstones themselves, they will generally pay little.
- Specialty websites – specialty websites can generally offer more than auction sites because experts verify the items.
- Person-to-person sales apps – apps like LetGo allow you to advertise your gemstones and have buyers contact you.
- Community board sites – sites like Craigslist or Facebook Marketplace can be an option, but sellers must use caution when meeting up with buyers, especially for high-value items like gemstones.
Why a pawn shop is your best bet
A pawn shop might not seem like the obvious solution to get the most money for your gemstones, but it is very often the right choice. Here are just a few reasons why your local pawnshop should be your only stop when you want to sell your loose gemstones:
- No shipping, handling, or insurance costs – when you sell gemstones online, you will often have to pay for the shipping, handling, and insurance yourself.
- No picky buyers – selling to a pawnshop means not having to deal with people who want to pay as little as possible. Your pawnbroker understands the value of your gemstones and will work to find a fair price. Another danger of selling online is that you risk a buyer filing a fraudulent complaint, which can unfairly harm your reputation or even cost you money.
- No waiting – when you sell to a pawn shop, you get your cash in hand safely in minutes! No waiting for an online payment to come through or risking your safety by handling a cash transaction in public with a stranger.
Pawnshops want gemstones of all kinds
When you hear the word “gemstones,” you might think mostly of diamonds. However, there are many different beautiful and valuable gemstones out there.
While gemstones almost always have value, sometimes, that value skyrockets when they become famous. For example, blue sapphires are enjoying a moment of popularity, thanks to the famous engagement ring of Duchess of Cambridge, Kate Middleton.
Gemstones are among the handful of items that your local pawnshop will always be interested in. Unlike some other items whose value tends to go down year after year, such as electronics, there is always value to be found in gemstones. This is because the stones can be used for various things, are durable, and are traded all over the world.
Some basics of selling gemstones at your local pawnshop
Although most gemstones will have some value, not all gems are created equal. So, before you sell your gemstones to your local pawnshop, keep the following things in mind:
- There are four main types of precious stones: Diamond, Ruby, Blue Sapphire, and Emerald. These are the most valuable types of gemstones and will always command a high price.
- Any other stone aside from the main for types is considered semi-precious. While these can still have value, they will not get as high a price as a precious stone.
- Size matters. Tiny stones are not as valuable to your local pawnbroker as larger stones.
How to get the most money for your gemstones at your local pawnshop
Regardless of the type of gemstones you are selling, here are some tips to help you get the most for your items:
- Bring your paperwork – if you have certificates of authenticity, verification of carat or purity, or even receipts, bring them with you. Counterfeit or impure gemstones are a concern for any buyer of gems, so the more you can back up the value of your gemstones, the more leverage you will have when it comes time to negotiate a price.
- Have them appraised by a professional (optional) – if you do not have paperwork but want the security of knowing exactly what value you have in your gemstones, you can have them appraised. However, be wary of going to a retail jeweler for this service. It pains us to say so, but there are lots of buyers out there who will not hesitate to take advantage of vulnerable sellers. Instead, contact the American Society of Appraisers, who can help you find a trustworthy appraiser in your area.
- Do your homework – as any buyer would, your pawnbroker will have lots of questions about your gemstones. Help them help you by being prepared to answer things like: where did you get your gems? Have they been treated? Can you verify their authenticity? (this is where your paperwork will really come in handy!)
- Let your pawnbroker help – if you have any doubt about the validity of your gemstones, your pawnbroker can help. Your pawnbroker will appreciate your honesty and do what they can to help you figure out if your gems are real.
- Do not be afraid to negotiate – if you have done your homework, have determined that your gemstones are authentic, and have the paperwork go back it up, be prepared to negotiate with your pawnbroker. If you have realistic expectations, your pawnbroker will be able to work with you to reach a price that works for both sides.
As you can see, pawnshops all over the country will buy loose gemstones. When you are ready to sell your loose gemstones, contact your local pawnshop. If you live in Ontario, California, or anywhere in the Inland Empire, see how we can help you today!