If you have old jewelry that you are thinking of selling, the best options are usually trustworthy local pawnshops or jewelry resellers. However, there are often advantages to working with a pawn shop. Namely, a pawn shop can evaluate a piece of jewelry by either its worth as jewelry or simply the worth of the metal/stones. Pawn shops frequently buy precious metals like gold, silver, and platinum even if it is damaged, broken, or scratched. Jewelry resellers, on the other hand, will only be able to provide pricing on how much the jewelry is worth on its own. In this guide, we will cover some key factors to consider when selling jewelry in NYC. If you are looking for a local pawn shop to sell jewelry in the Bronx, you can visit either of our two locations.
Jewelry Reselling Factors: Weight/Purity
Jewelry can be evaluated in two different ways. For example, a diamond ring is often going to be evaluated by the value of that diamond. Diamonds are evaluated using the 4C’s: cut, color, clarity, and carat. Cut refers to how the diamond interacts with beams of light, or how it sparkles. This is determined by the geometry of the diamond. Color refers to whether or not the diamond has a yellow/brown tint to it. Clarity refers to flaws like inclusions or blemishes. Carat refers to the weight of the diamond. Each of these aspects is used to determine the overall value of a diamond.
Likewise, gold, silver, and platinum jewelry are often evaluated on purity and weight. Jewelry can be made by mixing metal alloys or can be pure. For example, 24-karat gold or gold jewelry that is marked 999 refers to jewelry that is pure gold. Meanwhile, rose gold jewelry is an alloy that mixes metals, so it inherently cannot be pure gold. Checking stamps on your jewelry can let you know whether or not your piece is pure. Pawn shops most frequently base their prices on the weight of the metal and its purity. For that reason, gold-plated and gold-filled jewelry are almost never bought by pawn shops.
Reselling to Jewelry Stores, Pawn Shops, or Online Marketplaces
The three most common options for reselling jewelry are to sell either directly to a buyer via an online marketplace, a jewelry reseller, or a local pawn shop. The largest drawback to going through online services is that it is a lot of work. You have to find buyers, negotiate prices, and if the jewelry is damaged or scuffed, there is likely little interest. Likewise, jewelry resellers in NYC will only buy jewelry they can comfortably resell. For many people, their best bet is to work with a reputable local pawn shop. This is especially true if you have jewelry that is broken, missing stones, or is otherwise damaged.
Sell Used Jewelry in the Bronx
Here at Paradise Pawn, we buy, sell, and offer pawn loans for used jewelry. With our two locations in the Bronx, we make it easy for people to get great prices for their jewelry based on their intrinsic value. For more information, please give us a call.