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I’ve never pawned anything. How do I pawn my diamond engagement ring without being ripped off too bad?
Shannon G asked:
I’m a single mother trying to make ends meet. My ex and I spit up and all he’s left me with is a $1,200 engagment ring. I desperatly need money to pay bills and groceries. What is the best way to sell my ring and not be ripped off. By the way I need the money today, I’m tired of borrowing from my family.
I’m a single mother trying to make ends meet. My ex and I spit up and all he’s left me with is a $1,200 engagment ring. I desperatly need money to pay bills and groceries. What is the best way to sell my ring and not be ripped off. By the way I need the money today, I’m tired of borrowing from my family.
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17. August 2008 at 6:26 pm :
Here’s the thing. If you pawn the ring it’s technically still his property. So he can come after you for the full value and will win 90% of the time. I wouldn’t do it unless you’re 100% sure he isn’t/won’t do that.
20. August 2008 at 10:25 am :
Just so you know, diamonds are not worth very much. Their price is inflated because of sentimentality. Additionally, it is a rare thing that someone will buy a sentimental item second hand, so pawn shops can’t do much with them.
You’ll take that ring to the pawn shop, and they’ll offer you ten bucks for it.
Sorry that things went bad and the engagment didnt’ work out
23. August 2008 at 7:11 am :
i would file for child support first of all. I would also refrain from selling that ring at all costs. You’re lucky if you get a couple hundred for it- no matter how desperate you are- you’ll wish you had it later. good luck
24. August 2008 at 3:15 am :
Wally above, is an idiot, don’t listen to what he said.
You can take the ring to a mom & pop jewelry shop, and see what they will give you for it. Those places are less ’seedy’ than pawn shops. They will give you an offer for the ring. If it sounds fair, take it. If not, tell them you were looking for a little more.
I would avoid the pawn shop. Sell it to the jewelry store. Chain stores like Zales, Gordons, Helzberg, etc…do not buy used jewelry. This only applies to family owned places. Call around and ask if they buy jewelry.
25. August 2008 at 5:11 pm :
I am a pawnbroker. My suggestion is to take it to a couple of pawn shops and get quotes on how much they would buy it for. A pawn shop is the easiest way to sell jewelry you don’t want. You won’t get $1200, but you will get a fair amount based on the size, quality, cut and weight of the diamond and ring. Don’t listen to Wally. He’s probably never set foot in a pawn shop. Jewelry is my biggest seller. I pay as much as I can for desirable pieces. For example, say I examined your ring and calculated that I could re-sell it for $700. I would offer you at least $200, maybe more depending on how much I want the ring in my display case. It’s worth a try. What have you got to lose by asking for a quote? Good luck hun!