You may not realize it, but you more than likely have hundreds, if not thousands, of dollars of gold and silver jewelry lying around your home that could be quickly turned into cold, hard cash. Pawn shops make excellent resources for getting quick cash if you have to sell jewelry in Los Angeles. Even if you want the jewelry back at some point, pawn shops offer the ability to get your hands on money immediately and then to come back later and get your sentimental jewelry.
If you are looking to Sell jewelry in Los Angeles, follow these tips to get the best deal:
The first step is to inventory the jewelry you own in which you intend to pawn or sell. You will get the most bang for your buck by cleaning the jewelry first and making sure they are in the best working condition possible. Jewelry such as watches and necklaces should all have working parts if you are hoping for top dollar.
The second step is to have your jewelry appraised. Before you go to a pawn shop, visit first a local jeweler to get a valuation on your items. This information is invaluable when negotiating with a pawn broker. Not knowing the market value of your jewelry will put you at a distinct disadvantage.
The third step is to decide if you want to pawn or sell your jewelry in Los Angeles. Pawning means you are taking a short-term loan out against the jewelry. Generally speaking, you will get less cash for a pawned piece of jewelry than one you sell outright. Pawn brokers must hold on to a pawned item longer than a purchased item before they can resell it, and that carrying time will cost you.
The fourth tip is to encourage the pawn broker to make the first offer on your jewelry. He or she will most likely solicit from you what you’d like to get for your jewelry, but you will improve your negotiating position by responding with something like, “I would like to first know what you are willing to pay for it.” If nothing else, this shows the pawn broker you have some savvy in negotiating. The greatest leverage you own is the ability to walk away. If you are not being offered an amount you feel to be equitable, thank the broker and head to the next pawn shop.
The final tip is related to you wanting the jewelry back. This means you are pawning it, not selling. When you pawn, you are taking out an interest-only loan for 90 to 120 days. The interest rate will vary between 6% and 25%. Make sure you pay the loan back on time! Otherwise you risk surrendering the jewelry to the pawn shop.
Pico Union Pawn has a wide variety of valuable merchandise such as jewelry, fine watches, electronics, high quality power-tools, musical instruments at affordable rates.