Jewelry has always been a popular accessory in the world of fashion and in the world of marriage but when selling or pawning your jewelry always remember that it is typically a very “high markup” item! In many instances jewelry items are marked up 300% and higher! I’ve found this to be especially true on the smaller fashion rings with smaller diamonds. I’m not mad, however, and you shouldn’t be either. Rents, payrolls, and light bills are high and these jewelry stores have to make money. The good news is you have choices and one of the choices more and more people are finding out about are Pawn Stores. Pawn Stores, as a part of their business, end up with very nice jewelry pieces that are refurbished and put out for sale at a fraction of the cost!
Remember that the mark up on jewelry could affect your collateral loan as well. Most pawnbrokers want to loan you what you need, though, and with the price of gold and silver at record highs this is usually easy to accomplish. It’s the responsibility of the pawnbroker to find out what your needs are and help you get there!