Taking your jewelry into a pawnbroker can help you get access to money quickly. However, you need to know the steps and risks involved in this process before getting started, so you can get the best possible value for your pieces. When selling jewelry, you can usually choose between an outright sale or pawning the items, which essentially means taking out a loan based on the value of your pieces. If you’re thinking about pawning any jewelry, here are a few important things to note.

Do:

Know the value of your items.

Before even visiting your local pawnbroker, you should have a general idea of what your piece is worth. You likely will not get back the full value of it, but having it appraised or weighed beforehand can help you negotiate, so you don’t end up with a number that’s too low. It’s also important to consider what the item’s sentimental value. If you have a piece of costume jewelry that, though not completely silver or gold, is still considered a precious family heirloom, then it may not be worth pawning for a small amount.

Clean your jewelry.

Presentation is everything at a pawn shop. If you bring in a tarnished, dingy necklace, you’re likely going to get a lower offer than you would if you brought one in that’s freshly polished and looks like new. Jewelry cleaning is fairly simple and inexpensive, so take the time to complete this step so you can get the best possible price.

Don’t:

Act desperate.

Desperation can serve as a red flag for a pawnbroker. If you show them that you’re willing to accept any offer, you’re probably not going to get the best possible price for your item. Instead, go into the experience expecting to negotiate, and have clear terms outlined in your head so you’re more likely to stick to them.

Default on the loan.

When pawning items, your pawnbroker will give you specific terms to pay back the loan. If you fail to meet these terms, the jewelry then belongs to them and you can’t retrieve it without buying it back from them. Should you want to purchase the piece back, it’s likely the broker will want to sell it back a higher price—assuming that it hasn’t been sold to someone else or melted down already. Therefore, it’s important that you consider the terms carefully before signing a contract to pawn pieces, so you’re clear about the repayment process.

If you’re looking for a pawnbroker in High Point, NC, look no further than Coins & Stuff. The jewelry and coin dealer has been serving the Piedmont Triad area since 1980, offering a wide selection of items for sale and are please to work with those who are interested in selling gold and jewelry. For more information, contact the team online, or call (336) 885-5323 to discuss jewelry prices or sales.