Don’t know what to do with that silver bracelet your ex-husband gave you? How about giving it a second chance and providing you with quick cash? Sounds interesting, right? Above everything when it comes to getting rid of things we don’t want but are valuables. Well, here’s a solution for you: pawning shops.
This kind of shops are in charge or receiving valuable items and loaning money for it, sounds like a deal, right? However, goods like gold, silver, precious and semiprecious stones, are well accepted by this establishments.
Let me tell you a quick story; my old friend Guadalupe, a proud woman with nothing but 2 kids, a regular job, and tons of debts, got divorced 3 years ago. His ex-husband; a man who (in those golden years) used to make her good gifts such as those emerald earrings Jane used the day their smallest kid had his 6th birthday.
Nowadays and as things didn’t turn out that good for them, a very complicated divorce and a lot of debts keep chasing Guadalupe. I heard about a pawning shop in Brooklyn where they had some experts who can offer good and fair loans for valuables. Besides worker capable of speaking in different languages for all those foreign clients.
Told my good friend to look no further and talked to her about this pawning shop I heard of. She made her way into the shop and got surprised when Josh, the guy in charged for the Hispanic area, made a loan for her for about $200.
Jewelry is one of the three most common valuables found in pawn shops. Besides silver, electronics and other objects.
Although, valuables must follow some requirements in order to be accepted in pawn shops.
In the case of jewelry, this type of items must be in optimum conditions, pawned by the owner (who must be 18 years old or older).
“Generally, pawn shops accept all type of gold (12k, 18k, etc.)” said the nice guy who waited on my friend Guadalupe at the Brooklyn’s pawn shop.
Brooklyn offers their citizens, lots of options when it comes to pawn shops.
From the most recommended ones to the less known ones; pawn shops will always offer a solution for the quick money.
But now, how to know the average price offered in pawn shops for gold or jewelry? well, the answer is: it depends on.
If we’re talking about gold, generally, pawn shops offer around a 40 or 80% of the real value of gold. The reason? Prevention.
If the value of gold goes down, pawn shops won’t be too satisfied having paid more than the actual price for that moment.
In the case of jewelry, as surprising as it might sound, between a jeweler and a pawn shop, pawn shops would pay more than what a jeweler would. But, why?
The main reason is that jewelers are obligated to sell, a stone, for example, to a walk-in customer who is looking for that exact stone. So the range of possibilities is reduced.
A pawn shop expert can sell that stone to any walk in customer and also, another jeweler interested in that stone. So, pawn shops have a bigger range of possibility for selling specific jewelry.
In conclusion, the decision of whether to use a pawn shop or a jewelry to sell you gold or precious jewelry is up to your needs. But always remember to take in count the variation of price (in the case of gold).
Which pawn shop should you go to? The one that you feel more comfortable with!