Perhaps you own jewelry that has fallen into disuse or has simply gone out of style. Bring it in, sell it to us for a fair price, trade up to something more desirable, or use the money for whatever else you may be in the market for. Gems hold their value well, and precious metals appreciate dramatically over time, as has been the case with gold, silver, and platinum in recent years. What is the hidden opportunity cost of that old ring or bracelet that has been collecting dust in your dresser? Turn it into cash today, and use the cash for anything you want or need.
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 watch at the jewelry 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. Coming up with an accurate assessment of jewelry value is complex and involves many variables:
- What was the item sold for originally?
- What can we pay for it and be able to resell it for?
- What is the condition of the item?
- What is its market desirability?
- What is the precious metal content hallmark, i.e. 18K, 14K, PLAT, 925 Silver, etc?
- What is the weight in precious metal?
- What types of stones are involved, precious or semi-precious?
- What are the four Cs of the gems (color, clarity, carat and cut)?
Let’s look at a diamond and gold 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. Once all of this data is analyzed, an accurate value for the ring is determined.
When you shop for jewelry in our store, you will save a great deal of money and have a great selection to choose from. Buying used jewelry can be fun, and it’s easy on your budget. Many of our clients also see it as an investment opportunity. Some may purchase it solely for its value, others may intend to customize or refashion it, while others just enjoy it for the beauty and fashion it provides. If you are looking for a loan or need to sell your jewelry, the same process will accurately determine the best cash amount you can get for your items.
Whatever type of jewelry you have to part with, whether it’s new, old, or even scrap, we’d love to see it. We invite you to contact us and stop in to see if we can arrive at a mutually agreeable offer. When you are in the market to purchase gold, platinum, silver, diamonds, engagement rings, pendants, chains, or one-of-a-kind jewelry, you will definitely be satisfied with what we have to offer. The beauty of our inventory is that it constantly changes and improves. Some of our clients make it a habit to just browse the case once a week to see what's new and beautiful. There is no need to pay full jewelry store prices when you can get what you need at Metro Pawn & Gun in Minneapolis, MN!