We’ve all heard the phrase ‘diamonds are forever’, but what if you need to sell yours for money today? This article will help you understand how a pawn shop can help you use your diamond jewelry to get the cash you need.
Whether you have diamond rings, diamond earrings, diamond necklaces or diamond bracelets to sell, a pawnshop can give you the option to either sell or pawn the diamonds based on your needs.
Should I pawn or sell my diamond?
If you don’t want to get rid of your diamonds forever, then pawning them is a good way to raise funds when needed, using them as collateral for a short-term loan and getting them back when you repay the loan. In fact, many pawn customers pawn the same diamond jewelry time and again whenever their need for cash arises.
Whereas you can sell an item only one time, your diamond jewelry can be pawned as collateral many times. Pawning diamonds is fairly straightforward and doesn’t require a credit check or impact your credit rating. Most pawnshops have trained gemologists on staff ready to help you get the most value for your diamonds.
Most pawnshops have trained gemologists on staff who can help you assess the value of your diamond, whether it is a loose diamond or set in gold or platinum or another precious metal.
The Four C’s of Diamond Grading
You may have heard of the four C’s of diamond grading which are cut, color, clarity, and carat. Diamond cut specifically refers to the quality of its cut, including angles, proportions, and symmetry. Color sounds simple, but it is determined by how much color, cloudiness, or tinting might be present in your diamond. Clarity focuses on any imperfections on the diamond’s surface or within it. Carat, also referred to as carat weight, depends on its weight rather than its size.
Now that you know what the four C’s of diamonds are, you will be better equipped to ask your pawnbroker questions that will help you understand the pawn transaction and how they arrive at the amount they’ll offer you.
Learn more from the pawnshop
Most pawnshops are family-owned businesses that have been a part of your community for many years. Their customers know and trust them for the cash they need or the discounts that they want. If you’re curious about the value of your diamond, a pawnbroker is able to help answer your questions about its value and determine whether it’s best for you to sell the diamond outright, use it as collateral for a pawn, or trade it in on an upgraded piece of jewelry or another item.
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