Pros of Selling Your Engagement Ring to a Pawn Shop
There are several benefits of selling an engagement to a pawn shop. The most obvious benefit is that you’ll probably be able to sell it quickly. With more than 30 million Americans buying, selling, or pawning items at a pawn shop, suffice it to say a lot of jewelry is bought and sold in pawn shops across America. That means that your local pawn shop is likely always looking to replenish their inventory of jewelry.
Another benefit of selling your engagement ring to a pawn shop is that you’ll be supporting a small, often locally owned and operated business, in your own community. Likewise, environmentalists prefer working with pawn shops, as they do not do any mining, or otherwise damage to the environment. Everything in a pawn shop is a resale, and there’s no packaging, or extra carbon emissions from shipping items. Those who are concerned with sustainability and environmental impacts of their purchases often prefer conducting business with pawn shops.
An incredible benefit of selling an engagement ring to a pawn shop is that unlike a jewelry store that is only interested in certain styles, or designs, pawn shops cater to a diverse customer base Pawn shops aren’t particularly concerned with what year your engagement ring was designed. They may be less fussy about the shape or mount of a gemstone.
You can also get a great price for your engagement ring at a pawn shop. Pawn shops generally purchase items for approximately 50% of the value. Moreover, you can often sell it and find another amazing piece of jewelry in the shop to trade for, that doesn’t come with the same proverbial baggage attached, as your engagement ring.
What to Know About Selling Your Engagement Ring to a Jewelry Store
In some cases, you may get a slightly higher price for your engagement ring if you sell it to a jewelry store. But remember that not all jewelry stores will buy your jewelry. You certainly can’t walk into the jewelry store at the mall and try to sell an engagement ring. You’ll have to identify which jewelry stores are currently buying. Then you’ll have to bring in your ring. Then if, and only if your ring matches what they are looking for, they will make you an offer. Pawn shops are much faster and simpler, and buy a much wider variety of engagement rings
How to Get the Most Money for Your Engagement Ring at a Pawn Shop
To get the most money for your engagement ring at a pawn shop, follow these simple steps.
1. Clean the ring
You can use a gentle dish soap and a cloth, or you can likely take it to a jewelry store and have it cleaned. A clean ring will sparkle and shine, which can increase your price.
2. Learn About Your Ring
Be sure you know the karat if your ring is gold. If it has diamonds, research the price of the carat you have online. Spend some time looking up other engagement rings until you find one comparable to yours. Find ballpark pricing and remember that a pawn shop will only pay a percentage of the full retail price.
3. Have Your I.D. With You
California state law requires pawnbrokers to collect identification from those they buy items from. So, don’t head into the pawn shop to sell your engagement ring without your I.D.
4. Bring the Box
If you still have the box your ring came in, bring the ring in the box. This helps to present it more attractively to the broker.
5. Bring any Appraisals
If you’ve had your engagement ring appraised, bring that paperwork with you when you come to the pawnshop. If you happen to have the receipt for it, bring that as well.
6. Check the Current Price of Gold, Silver, or Platinum
You’ll be a more educated seller if you know an approximate value of precious metals. You can check the current price of gold, silver, or platinum online anytime.
7. Don’t Shy Away from Negotiations
If there is anywhere that going back and forth is accepted, it is at the pawn shop. In fact, pawn shops welcome negotiations. When you get an initial offer, don’t be afraid to ask the employee how they arrived at the figure they offered. Allow them to make their case, then make your case for why they should pay you more. Most times you’ll meet somewhere in the middle.
8. Do Not Act Desperate
Even if you can’t wait to get an engagement ring out of your life, don’t let the pawn shop know that. Instead, keep a cool head, and use the knowledge you’ve learned about your ring to make good decisions, and be a strong negotiator.
9. Be Willing to Walk Away
If you can’t reach an agreement on price, be willing to walk away. It is not uncommon for customers to refuse an offer, and prepare to leave, only to get the price they wanted just minutes before walking out the door. If you cannot reach an agreement, be willing to walk away.
Sell Your Engagement Ring in Ontario, Upland, and Pomona
If you’re interested in selling your engagement ring for instant cash, visit Central Mega Pawn in Ontario first. As the Inland Empire’s fastest growing pawn shop, we have more than 1300 positive reviews on Google, and maintain a 4.9-star rating. In addition to engagement rings, we buy and sell necklaces, bracelets, luxury watches, earrings, anklets, and much more. and incredible
Our experienced pawn brokers have decades of experience in valuing items, purchasing items, and providing pawn loans. We proudly serve the communities of Ontario, Pomona, Upland, and surrounding areas in the Inland Empire, 7 days a week. Central Mega Pawn is located at 11031 Central Avenue in Ontario.