When people are considering selling jewelry, many turn to their local pawn shop. The flashy signage and advertisements often lure in those looking to sell their unwanted jewelry. While pawn shops can provide a quick and easy way to sell an item, it is important to consider the difference in pricing between a pawnshop and a jeweler.

Local jewelry pawn shop typically offer less than the actual value of an item because they are in business to resell it at a profit if the owner doesn’t redeem it. They also have to cover the overhead costs associated with operating their store. Jewelry stores, on the other hand, purchase their inventory at wholesale prices and then add a markup of 200% – 400% or more.

Local Jewelry Pawn Shop: Convenient and Reliable Solutions

When selling an item, a jewelry store will take into account the condition of the piece and may require a certificate of authenticity before making an offer. They will also know the current market price of gold, silver and precious gems. This ensures that both the buyer and seller get a fair deal.

When it comes to pawning your jewelry, focus on items that contain precious metals such as gold and silver. Look for hallmarks and karat weight on your jewelry. Precious stones can also hold significant value, especially if they are rare. Costume jewelry won’t get you the same price, but it can still be sold if it has some relevance to today’s trends or popular culture.