Can You Sell Loose Gemstones at a Pawn Shop?December 7, 2021 10:16 pm Leave your thoughts
If you’ve been thinking about pawning your loose gemstones, rest assured that pawn shops are happy to buy them.
Sometimes we end up with loose gems from jewelry that had to be reset, or we inherit them from relatives who happened to have them lying around. Maybe you planned to set the stones but no longer want or need to—or maybe you simply need quick cash.
Whatever the reason, pawning gemstones is a good way to get money.
Kinds of gemstones pawn shops will buy
Gemstones tend to be a safe bet for pawn shops, since they retain their worth over time—unlike electronics and other items that quickly depreciate. Stones like diamonds and emeralds are always in high demand, but pawn shops will often buy other semiprecious stones, too. The better the clarity, color, cut and carat weight, the more they’re worth.
While stones like diamonds are always popular, the popularity of other gemstones can increase or fall over the years. This is often a reflection of what’s in style and when certain celebrities wear a particular stone. For example, after Kate Middleton married Prince William, blue sapphires were in higher demand than usual. While it’s hard to predict what will catch the public’s interest, you might consider selling your loose gemstones if you own a suddenly-popular variety.
Why choose a pawn shop?
You have options when it comes to selling loose gemstones. Jewelers and auction houses will often buy your loose stones, too; however, it’s a good idea to sell gemstones at a pawn shop because pawn shops are often a great place to get the most money for your valuables. In fact, the average value of a half-carat diamond is around $2,000.
Here are some reasons you should try selling your loose gemstones at a pawn shop:
- No waiting: If you need cash fast, a pawn shop is your best bet. Your gemstones can be appraised while you wait, and you’ll get an offer as soon as the appraisal is finished. If you accept, you can have cash in hand within minutes.
- No shipping, handling and insurance: If you sell your loose stones online, you’ll have to pay for the shipping, handling and insurance yourself. Plus, it will take longer. This can be a problem if you need the money for another purpose.
- No lowballing: Finally, pawn shops are usually happy to work with you to offer a fair price. Jewelers and other gemstone buyers may be extra picky and give you a lowball offer. If you want to make sure you get the maximum value for your gemstones, make sure you find out how much your favorite local pawn shop is willing to offer.
When you want to make the most of your loose gemstone collection, a pawn shop can be a smart option. Sydmor’s Jewelry & Pawn Shop is happy to appraise your gemstones and make you the best offer we can. Call us today with any questions, or stop by with your collection and find out what we can give you.
Categorised in: Jewelry Store
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