What to Do When Shopping for a Pre-Owned Engagement Diamond

August 7, 2017 10:25 pm Published by Leave your thoughts

Whereas retail jewelry stores mark up their prices by a lot to accommodate business costs, smaller pawn shops are able to offer a wide selection of jewelry at lower prices. And not only do pawn shops offer a high-quality selection, but they also tend to have unique or antique pieces in stock. Older quality jewelry often increases in value over time. What’s more is that pawn shops are not bound by contracts to only sell specific brands and types of their jewelry.

If your significant other is crazy for vintage items, then a pre-owned diamond ring from a pawn shop may be the way to go! So, let’s take a look at a few important steps you should take when shopping for a pre-owned engagement diamond at a pawn shop in Barberton, OH:

  • Set parameters: You may not know exactly what you are after, but it benefits you to have an idea of what you want. Figure out ahead of time the size diamond, clarity, shape and color range you’d like.
  • Do your homework: Do some comparison shopping for the size diamond you want. This will give you an idea of what you would expect to pay at a pawn shop, and if the price is within your budget.
  • Research shops: Make sure the pawn shops you plan to visit have a current business license and good ratings. The easiest way to do this is by conducting research online.
  • Bring a friend: Don’t bring just any friend. Bring a friend or family member who is knowledgeable in the diamond industry for better peace of mind while shopping.
  • Take time looking: Look in all the display cases, especially the dusty ones holding jewelry with older looking price tags. Here you can discover unique pieces at a great value, maybe even get a discount because the ring has sat there for so long and they want it to move.
  • Get documentation: It’s important to get all the documentation on a piece of jewelry that you can. Most importantly, get proof in writing that the diamond is real, genuine and untreated.

As you’re shopping for a ring, it can be helpful to understand the different ways in which a ring’s value might be stated:

  • Retail value: The retail value of an item is its retail price, although an antique or used item dealer cannot make a profit if they buy at retail value and also sell for the same price.
  • Pawn value: This is how much you could get from selling jewelry to a pawn shop. The offer price is usually based on current market value, the metal value for the day and looking at what similar pieces are going for used online.
  • Insurance value: Insurance value is set near the top of the retail value bar and is needed for all your valuables, but it’s most important for antique and collectible pieces. It’s in place so the owner can more easily replace stolen or destroyed items.

If you need assistance choosing an engagement diamond, look no further than Sydmor’s Jewelry and Pawn Shop. Our pawn shop in Barberton, OH has one of the largest selections of diamonds and jewelry around—visit us today!

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