Consumer buying knowledge today is at an all-time high. With our capacity to instantly research any given topic or search for the best deal using the Internet, we are able to make informed purchasing decisions without so much as leaving the counter in a place of business. Virtually infinite information is available at the touch of a button or voice prompt on our smartphones and tablets.
Retail stores offer merchandise at a fixed price. You can find out whether what you want to buy is a good deal, whether it’s on sale elsewhere or perhaps if there is a coupon or promotion you can download. But generally speaking, the price that a retailer posts, discounted, promoted or otherwise, is what you have to work with. Deciding if a couch at the furniture store is “worth” the asking price becomes more of a personal affair than one that can be deliberated with the retailer.
The Pawn Shop model works a bit differently. This is where the “value” of an item becomes the determining factor in its price. Many products are used, and have been traded, pawned or sold to us outright. Coming up with an accurate assessment of value is complex and involves many variables. What was the item sold for originally? What did we pay for it? What is its condition? What is its desirability? Does the item appreciate or depreciate? And the list goes on…
Let’s look at a wedding ring as an example. It was originally purchased for $600 about 20 years ago, but a similar item would obviously cost more today. The diamonds have likely appreciated over time, however, exactly how much depends to some extent on karat, clarity and condition. Gold has also appreciated significantly over the last 20 years. Evaluation of this ring must be done in the here and now. Everything is considered, from the precious metal content, the setting, the diamonds, the current market for this type of ring, and what the seller was looking to get out of it.
After all the available data is digested, a viable price for the ring is determined. When you shop for jewelry in our store, you will find that a great deal of money can be saved if comparing the same item in a full-retail jewelry purveyor. Precious metals and stones are verified to be genuine, the quality is the same as anything new of the market, and our selection is diverse and always changing.
Metro Pawn & Gun invites you to check out our amazing selection of jewelry.
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