If you’re looking to sell your broken jewelry to a pawn shop, you might be surprised by how far the dollar goes. While a jewelry store may not want to give you much money for your pieces, a pawn shop is willing to offer more because they can use it as collateral for loans. Pawnshops typically provide between 50% and 70% of the value of an item in their possession, depending on its condition and type.
Considerations
Before you head to the pawnshop, make sure that you look at the condition of your broken jewelry. Jewelry stores will typically turn down chipped, cracked, or broken pieces. The general rule is the more significant the damage is to your jewelry, the less money a pawn shop will be willing to offer you for it. Ideally, if you’re looking to get rid of some broken jewelry, they should be able to wear it as is and not need any repairs done first.
If you go to a pawn shop, you should know precisely what you’re getting into. Pawnshops are not the places to give you a check in the mail; they will expect to see the money first. With this in mind, most pawn shops will charge an upfront fee for their services. Typically, this fee equals two percent of the amount they are charging for their services. If the pawned item is costly, a higher price might be charged.
Centreville Gold & Pawn has been in business for over ten years and has an A+ Better Business Bureau rating. They have an excellent reputation and have a lot of experience. This company will give you cash today, or you can make several payments over time to pay it off. They also offer insurance on the item they are pawning, and you can even repurchase it if you choose to do so.
Services they offer
Sell broken jewelry
You want to go to a pawn shop specializing in this transaction type to sell broken jewelry. Pawnshops that deal in selling broken jewelry are likely to offer a higher price than a traditional pawnshop because they can use the item as security for a loan.
Use as collateral
If you need to use an item as collateral for a loan, you can often do so by going through the local pawn shop. Most pawnshops will typically be willing to do this for you as long as you have the required paperwork.
Free appraisal
If you have a piece of jewelry that you’re unsure about its authenticity or value, it’s good to get it appraised first. You can take your details to the pawnshop, and they will let you know if they are worth anything or not. If they are worth something, they can offer you money for them on the spot.
Fully insured
Pawnshops usually have policies on collecting the items that they are pawning. If you decide to sell your jewelry, you can take advantage of this policy and be protected from potential loss should anything happen to the item.
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