If you have engraved jewelry collecting dust in your drawer, you may be thinking about selling it to a pawn shop. Be it a personalized gold ring or a watch with initials, there are often questions about whether or not personalized jewelry can be resold. Generally speaking, engraved jewelry that someone no longer wants to keep can be sold to pawn shops, but it may impact the value. For example, a pawn shop may need to spend money to remove the engraving so it is easier to resell, alternatively, a pawn shop may sell the metal outright since gold jewelry has value purely on the basis of the metal.
What Types of Jewelry Do Pawn Shops Buy?
Every pawn shop is unique, but jewelry tends to be a mainstay across the industry. Pawn shops will usually buy almost any kind of jewelry, including the following pieces:
- Gold or silver chains
- Gold or silver rings
- Gold or silver bracelets
- Gold or silver earrings
- Diamond or gemstone jewelry
- Luxury watch brands
- Platinum or palladium items
- Broken or scrap gold or silver.
If your jewelry has intrinsic value (precious metal content, gemstone quality, brand name), it can probably be accepted—even if it is engraved.
What Are The Benefits Of Selling Jewelry To A Pawn Shop
Pawn shops are experts in appraising jewelry and reselling it. While you will not get the retail price for the original piece, pawn shops provide cash quickly, which means you do not have to worry about finding buyers, haggling over prices, or dealing with fees through third-party selling websites. You should consider selling jewelry to a pawn shop if you need cash immediately, and/or you have no interest in the jewelry.
Does Engraved Jewelry Lose Value?
In general, yes—engraving will typically detract from the resale value of jewelry. Here is why:
Limited market interest: If you are selling directly to a buyer, the buyer may not want someone else’s initials or a personal message.
Resale restrictions: The jeweler may need to remove or polish out the engravings, so there may be added cost on their end, which will impact their price they are willing to pay.
Can You Sell Engraved Gold?
Yes, you can most definitely sell engraved gold in a pawn shop. As pawnbrokers can sell gold jewelery to businesses that melt down and repurpose gold, engravings may not be a roadblock to a pawn shop the way they would to selling directly to buyers or jewelry resellers. Pawn shops will determine the gold’s price based on the following considerations:
Buy, Sell, and Pawn Jewelry in NYC
If you have questions about the process of buying, selling, or pawning items in New York City, we would be happy to answer them. We operate two pawn shops in the Bronx and are consistently updating our inventory, buying jewelry, and providing pawn loans. For more information, please contact us.
