How To Pawn, Buy, & Sell Watches
Pawning or selling jewelry is a great way to get some quick cash. Pawn shops are specifically great to work with here in NYC, because the relationship between jewelry and pawning is one of the oldest ones for pawn shops. Almost every pawn shop has ways of evaluating jewelry and buys/provides loans for valuable pieces. Moreover, pawn shops will often buy broken jewelry that jewelers or other resellers won’t because pawn shops are interested in precious metals like gold. Here is a quick guide to pawning jewelry here in NYC.
Valuation, Offers, Appraisals, & Testing
What you get in terms of cash when you sell or pawn jewelry is completely dependent on the value of the item. Pawn shops like ours will test your jewelry. Below, we will go into greater detail regarding diamond and gold appraisal, but here are some general tips. First and foremost, the brand can play a role into the value of a piece. Beyond that, the condition of the jewelry plays a significant role. Of course, the largest and most important factor is whether or not your jewelry is fake. Here at Paradise Pawn, we use a variety of testing methods, including XRF testing, which can help us understand the exact metal composition of a piece. This can verify if something is pure gold or if something is a genuine item from a known brand that has specific metal compositions.
How Are Diamonds Evaluated at Pawn Shops?
Diamonds are evaluated according to the 4Cs of diamonds. These four c’s are carat, cut, clarity, and color. Here is a quick breakdown.
- Carat: This refers to the weight of the diamond. A larger diamond has more carats (0.2 grams) and is worth more.
- Cut: This refers to the shape of a diamond. Diamonds are graded from Excellent to poor. A better cut reflects and refracts light more effectively.
- Clarity: Diamonds can have external imperfections called blemishes or flaws, internally called inclusions. Diamonds are scored from FL (flawless) to I (included).
- Color: Diamonds can be tinted light yellow or brown. The color scale is from D (colorless) to Z. A clearer diamond lets more light pass through it.
These 4Cs are used in diamond appraisals to rate the value of a diamond. For more information about diamonds, please contact our team.
How is Gold Jewelry Appraised & Tested?
Gold jewelry is more valuable if the gold is pure. In gold jewelry, we frequently discuss “karat”, not to be confused with “carat”. While diamond “carats” represent weight, gold “karat” represents purity. A 24-karat gold piece is pure gold, or a piece that is 100% made of gold. Likewise, an 18-karat piece would be 75% gold. Some European pieces will use three-digit numbers like 999 or 750, which represent how many parts out of a thousand are gold. So a 999 marking would be 24-karat or 100% gold. Certain golds, like rose gold, are always a combination of metals (rose gold is made with copper to give it a reddish tint). If your jewelry is gold-filled or gold-plated, it is made with very little gold and is likely not worth much to a pawn shop or reseller.
Pawn shops can test gold in a few ways. Acid tests involve using a small amount of gold from the jewelry to see how it reacts to acid. XRF testing uses X-ray fluorescence to get an exact breakdown of the metal composition of a piece. Of course, if you have questions about your own jewelry, one of the quickest at-home tests you can do is with a magnet. Magnets do not attract gold, but do attract a variety of other metals like iron, which is often a base for gold-plated jewelry.
Should You Pawn or Sell Your Jewelry in NYC?
Selling or pawning your jewelry is a decision that you need to consider thoughtfully. If the piece is something you want to keep, you should pawn it and use it as collateral for the loan. You need to discuss with the pawn shop what your rate is and what the payment plan is so that you can recover the item. But if you have some broken jewelry that doesn’t have sentimental value, or pieces you don’t intend to keep or wear, you can sell it outright. Pawn shops like ours will often buy even broken jewelry if it is made with valuable materials.
Learn More About Pawning & Selling Jewelry
Is Rose Gold Jewelry Real Gold?
Rose gold jewelry is made with real gold, but it is not pure gold. Instead, it is an alloy made by combining pure gold with
Where to Shop for Vintage Watches in NYC
Used watches offer an excellent opportunity to explore luxury timepieces without breaking the bank, particularly in New York. For watch enthusiasts and collectors alike, purchasing
Best Practices to Pawn Jewelry
When you pawn or sell jewelry, taking the right steps beforehand ensures a smooth experience and that you get the most for your jewelry. Many
What Types Of Things Do Pawn Shops Buy
Pawn shops purchase a wide range of items, but they don’t buy everything. Pawn shops specialize in items that hold value and can be resold,
How Do You Know If Gold Jewelry is Real?
Gold jewelry testing methods are used by pawn shops like ours and jewelers all over the world. Understanding these methods is important because it helps
Do Pawn Shops Buy Broken Jewelry?
In these economically uncertain times, many people turn to pawn shops for quick cash. With gold prices varying due to global challenges, broken jewelry is
Common Questions About Selling Watches in NYC
Here at Paradise Pawn in the Bronx, we buy used and broken jewelry. As long as the jewelry is made with precious metals like gold or precious stones like diamonds, we can buy it. We provide expert gold testing services, including XRF testing, which allows us to find out the exact metal composition of a piece of jewelry. While many jewelry resellers buy used jewelry, a good number of them will not buy broken jewelry. Here at Paradise Pawn, we buy broken jewelry that is made of valuable materials.
Yes, most pawn shops buy jewelry that is made with valuable metals or stones. Jewelry is evaluated based on its purity, condition, weight, and the current demand/prices for those materials. Always make sure to investigate your jewelry for any stamps that indicate the purity of the piece. If you have questions about a specific piece, feel free to call ahead.
Outside of providing pawn loans and buying/selling used jewelry, the team at Paradise Pawn provides engraving and resizing services. These services are by appointment only, so please reach out first to confirm a time so we can have our jeweler here to help with your project.
When you pawn jewelry, you will likely receive a percentage of its current resale value. Many pawn shops base their appraisal on the “melt” value of the jewelry, or what it would be worth on just its metal alone. The factors that have the largest impact on how much you will get are the purity of the metal and the condition of the jewelry. A 24K gold necklace will be worth more to a pawn shop than a set of 18K earrings. To get a specific quote for your jewelry, please give our team a call. We would be happy to discuss the pawning process and how we evaluate jewelry at our offices.
No, rose gold is an alloy, which means it is a combination of different metals. In order to get that rose gold appearance, pure gold is mixed with other metals like copper. This inherently means that every piece of rose gold contains less gold than a pure 24K piece. That said, the gold used in rose gold is still valuable. Rose gold jewelry will often sell for similar prices to 18K gold. However, just like gold jewelry, it is possible to get jewelry that is only plated or filled, which means there is significantly less gold. It is always important to check jewelry stamps when