Wednesday, 19 Jun 2019

Pawn Jewelry 101: How to Cut Great Deals

American pawnshops are known to attract middle and high-income clients to obtain short-term loans or sell personal items. However, new customers often get below the actual value expected.

We’ve gathered five tips to help you get a high price for pawn jewelry.


All pawnbrokers are interested in quality items whether for a loan or sale. Usually, pawn jewelry sells quickly, and most brokers offer a rate of approximately 70% of its market value.

You can get an 85% proposal for high-end items such as rare and expensive jewelry. Buying household appliances in retail is relatively inexpensive, and some pawnshops may not be interested.

A Touching Story

Most retailers are not concerned about an individual’s story when buying an item. However, a touching story may help you when transacting with a pawnbroker. Ordinarily, brokers dealing with luxury items including designer watches consider a client’s financial and personal situation when determining the amount of loan to offer. Some look for an emotional attachment a seller has to an item.

Also, some pawnbrokers may intend to have future transactions with you and may give you a loan close to 100% of your pawn jewelryvalue if you’re capable of repaying on time. Often, an employed jewelry owner is likely to pay a pawn loan compared to an individual facing home foreclosure. Repeat clients get extra value for their items.


Usually, you will get more value by selling a personal item. However, pawn dealers may opt to give you a credit for long-term business partnerships. Some pawnshop owners pay over 15% more than their initial quotation to a client who wants to sell their items. They sell such items a month after buying them. It provides adequate time for police to ascertain if you’re the genuine owner.

Customarily, when you offer an item as collateral for a pawn loan, the pawnshop holds it for two months. Most clients reclaim their property after paying off their loans.

Loan Terms

You’re required to pay interest for a loan on a monthly basis. If you delay paying them, you may cater for extra costs. Different states have varying loan terms. For instance, a pawnshop may charge a loan interest of 6 percent to 20 percent per month while another one charges 3 percent to 5 percent per month and hold unclaimed items for three months after the one-month grace period elapses.

Compare offers

Jewelry stores offer different prices for items. Shop around for a while to get a variety of pawnshops with reasonable prices. Comparing enables you to get your item’s actual value.

Are you considering pawn jewelry? Contact GEM Pawnbrokers for advice and other financial solutions.