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How much can I expect to get from a diamond engagement ring at a pawn shop?
ablex asked:
I have a solitare, 1/4 carat nice ring, and I don’t know if it would be worth it to take it to a pawn shop or if I should try to sell it, or keep it.
I have a solitare, 1/4 carat nice ring, and I don’t know if it would be worth it to take it to a pawn shop or if I should try to sell it, or keep it.
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23. November 2008 at 3:39 am :
I wouldn’t take it to a pawn shop. Not unless you plan to get a loan and later get it back ( which is not a good idea either)
They will not give you anything close to what it is worth. They will try to give you as little as possible. Your better off selling it to an actual Jeweler or listing it in the local paper.
You will get much more for it this way.
25. November 2008 at 5:18 pm :
The pawn shop would probably give you barely anything for it — maybe $20 if you’re lucky.
I would try selling it on ebay or putting it up on Craig’s list. Either way, you’re going to get a better deal.
Good luck!
27. November 2008 at 8:48 am :
Pawnshops pay little for anything. If you need only $10 or $20, you can pawn it. Here in San Francisco, you have 6 months to redeem it, but in many other states, you must redeem it or pay interest on the loan every month.
28. November 2008 at 3:03 pm :
Ebay? YOu can ask for a reasonable price.
30. November 2008 at 1:49 pm :
I sold my 1 carat wedding ring on Yahoo auctions 4 years ago, I listed it on Ebay with a reserve, no one hit it, I sold it for much more than my reserve on Yahoo.
I would get it appraised before selling it on any online auction, having that piece of paper gets you more money. If you can’t get it appraised, try to find the same exact ring online to find out how much a customer will pay for it, and you have a rough idea how much it is worth before selling it.
Local classifieds or Craigslist is also a great idea
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