Buying jewelry from a pawn shop is a great way to save money. This is because you are buying a second-hand item, which should always be priced significantly lower than it would be if it was being sold brand new. However, the best way to ensure that you are actually saving money when buying jewelry from a pawn shop is to consider these four tips:
- Check on Brand-New Prices: First off, you should know how much a certain karat diamond ring is going to cost you brand-new. This way when you find a similar ring at a pawn shop with the same karat diamond, you know how much lower you should be paying. You don't want to buy anything that is close to the price you would pay brand new.
- Haggle: Another important thing to do is to haggle on the price. Pawn shops almost always expect their customers to haggle. If you don't haggle, you could be missing out on the opportunity to save even more money.
- Ask for an Authenticity Guarantee: An authenticity guarantee means that the pawn shop is selling jewelry that is authentic. If it is advertised as a gold necklace, for example, it should be made of real gold. When you receive an authenticity guarantee, it means that the pawn shop has taken the time to authenticate the piece. It also means that you can take it to a professional to be authenticated for yourself. If different results come back, the pawn shop will guarantee a return of the piece of jewelry for you. Don't buy from a pawn shop that doesn't offer this.
- Pay for the Jewelry With Cash: Why should you buy the jewelry with cash? A pawn shop is much more likely to accept your negotiation if you are paying cash for the item because this gives them the money right away instead of waiting for your check or debit card to process. On top of this, if you come with a set amount of cash, you can include it when haggling. For example, you can say, this is how much I have and that I'm willing to pay and, for that reason, the pawn shop may be willing to take it.
When you utilize these four tips when buying jewelry from a pawn shop, you can be sure that you are much more likely to come out of the experience with the jewelry that you have been looking for at the most affordable price for you. For more information, contact local professionals like Wilmington Jewelry & Loan.