Is pawn shop jewelry a good deal?
Pawn shop jewelry prices are normally about half of what you would pay retail (yes, I said half!) and the quality is just as good.
Some people may have an issue with buying “used” jewelry, but isn’t almost all jewelry “used” in some way, shape, or form?.
What kind of jewelry do pawn shops buy?
Most pawn shops take jewelry but only certain types of jewelry. Gold jewelry is always a top seller and other precious metals, such as silver and platinum, are not far behind. Jewelry with diamond and gemstones is valuable while costume jewelry is not.
What do pawn shops pay for jewelry?
Most jewelry stores and pawn shops pay approximately 50 cents for every dollar of scrap gold value. If the value is $1,000, for example, a store will offer to buy the ring for approximately $500. At Abe Mor, however, they offer 75 cents for every dollar of scrap value.
How do pawn shops work with jewelry?
Here’s how a pawnshop transaction works: Pawnshops offer collateral-based loans — meaning the loan is secured by something of value. You take in something you own, and if the pawnbroker is interested, he will offer you a loan. The pawnbroker then keeps your item until you repay the loan.