Taking jewelry to a pawnshop is a quick and effective way of getting cash when you need it. The broker will give you a loan and hold onto your pieces until it’s repaid. Before visiting a local pawnbroker, however, it’s helpful to understand the best practices for getting the most out of the transaction.

What to Do When Taking Jewelry to a Pawnshop

1. Know the Value

Before you even visit the shop, you should have a basic understanding of what your pieces are worth. Look into the current prices of similar jewelry to better understand the market value.

Check your items for hallmarks, which will reveal important information, such as what grade of metal was used, the country of origin, and the designer. If your pieces are gold, pay attention to how heavy they feel, as solid gold should be smooth and heavy throughout.

If you can’t locate hallmarks, have an appraiser inspect the pieces and provide an accurate valuation. If your item contains diamonds, they’ll be able to assess the carat weight and clarity.

2. Consider the Presentation

Always clean the items before bringing them in. For items like rings, necklaces, or bracelets, a simple solution is to mix water and baking soda until it forms a paste. Using a soft-bristled brush that won’t damage the jewelry, gently scrub the pieces to remove tarnish and restore their shine.

If you still have the original boxes, put them back in before heading to the shop. If you can’t locate the packaging, find a simple, clean box to create a strong first impression.

3. Don’t Be Afraid to Negotiate

Negotiating is part of the pawning process. Knowing the true value of the items helps in this process, but so does knowing the absolute minimum you’re willing to take.

After the broker makes an initial offer, confidently ask for more money and provide a viable reason why they should pay more. If the price point is satisfactory, you can finalize the deal. If the broker doesn’t agree to a price that meets your needs, you can choose to leave without making a deal.

4. Read the Fine Print

Any reputable broker will provide you with a written contract detailing the terms of the pawn loan. The contract should include information about how soon the loan needs to be repaid, the amount of the loan, and any interest that will be charged.

Carefully read every aspect of the paperwork. Only sign the contract if you’re absolutely confident that you can meet the terms.

 

Get the most money when pawning your jewelry by taking it to Gold & Silver Pawn. They’ve been helping local residents in the Hinesville, GA, area for more than 30 years by providing a straightforward and hassle-free pawning experience. They offer fair prices and friendly terms so you can get the cash you need quickly and easily. Call (912) 876-6580 to speak to a representative or visit their website for more information.