Buying An Engagement Ring At A Pawn Shop [UPD]
Engagement rings cost a fortune, and for a lot of couples, prohibitively so. In fact, some stores have been known to mark up rings by as much as 300%, or in many cases, even more! Pawnshop engagement rings offer a more affordable, yet equally beautiful and meaningful, alternative to a brand-new diamond ring.
buying an engagement ring at a pawn shop
An engagement ring is a symbol of the beautiful journey that two people embark on when they decide to spend their lives together. It represents the dedication, love, and commitment between partners as well as all those who witness it.
You may think that only broken engagements and marriages sell their rings, but this is not the case. Many people who are still together opt to buy a new ring for themselves as an update or because they inherited family jewels from someone in the past. Some rings also end up in a pawnshop for the simple reason that retailers want to clear out old stock.
Yes, some rings do get pawned due to failed relationships. But even more, get sold to a pawn shop for great reasons. For some, it might be upgrading to an even more expensive ring with a bigger stone or using money toward savings accounts and vacations. Others sell their ring to buy a new one for vow renewals!
Engagement rings are meant to last forever, which is why the most popular ones set a diamond in platinum. When people design or buy them with longevity in mind they often go for classic settings like solitaire because it goes with everything and never goes out of style; these are also the ones that more commonly get resold at pawn shops.
You also have a chance to purchase branded jewelry items at a lower price. This is because many upscale stores charge higher prices due to their brand reputation and packaging, but when you buy second-hand goods in pawnshops the asking price will be reduced as gold pieces are priced based on value rather than their prestigious label or expensive packaging.
Many people enjoy purchasing jewelry in pawn shops because of the quick and easy process of acquiring an item. Often, when going to a higher end jewelry store you will find it difficult to get what you want before waiting weeks for any customizations.
Additionally, there are many options for buying jewelry at pawn shops. One of these is the layaway option which lets you make monthly payments to the store until you complete your total purchase price and receive it.
Retail stores have a rigorous process that requires credit checks before they offer any financing, but when customers come into a pawn shop looking to buy jewelry without worrying about their financial background, they will often be given an instant layaway plan with no questions asked!
Negotiation is one thing that makes pawn shops a favorite among people looking for jewelry. You never know what great deals you can find when shopping at your local pawn shop, and the best part about it all is that there are no pushy salespeople to deal with.
When buying at pawn shops, ask for the papers of any rings or necklaces before making your purchase; however, do know that some high-quality items may not have them because they were lost in previous transactions.
To make sure you get the perfect diamond ring, do not take any shortcuts. Only use a pawn shop that is reputable and will be happy to work with your needs for verification or paperwork if needed! Read online reviews before visiting so you are aware of their reputation beforehand.
When it comes to the love of your life, finding that perfect engagement ring is a thrilling and exciting experience. Contrary to popular belief, there are no set rules when shopping for a ring for your proposal; you should feel free in choosing one that reflects how much you care about them- and cost should not hold you back!
Purchasing the perfect diamond ring from a pawn shop requires a little bit of patience, luck, and knowledge. The great news is that pawn shops are always getting new diamond rings, so you never know what you will find each time you visit. Because of this, it is something of an exciting adventure to go into a pawn shop in search of a ring.
This is the most important thing you can do for yourself when going to buy from a pawn shop. The first point in your research will be learning as much as you can learn about diamonds. If you are not familiar with diamonds, then you can go to a nearby jeweler and study the pieces there. Ask questions. Feel the weight of each of the diamonds and their classes. Ensure you leave with a sense of their pricing so that you can make comparisons when you get to the pawn shop.
Real diamond accessories usually come with a legitimate record from a gemologist. These records are to certify that these products are original and worth a higher sum. You should ask for such records when you walk into a pawn shop. Not all high-quality pawn shop diamond rings have these papers, as the previous owners may have lost them. If you really love a piece and would love to buy it, then you can arrange to have it appraised by a third party.
On occasion a client asks me about diamond shopping at pawn shops vs. diamond shopping with a jeweler, so I decided to write this to answer most questions you may have. Let me start by showing you all this interesting exchange I got from DiamondReview.com:
"I plan on buying a possible engagement ring in a pawn shop but I don't know what to look for. How can I tell if its a good diamond and can I fix it up to look like its brand new so my girlfriend won't know i bought it in a pawn shop. thanks, greg"
If you plan to shop for your diamond at a pawn shop for any type of diamond, be prepared to do some extra work. Here are 9 steps you can take to protect yourself if you choose to go the pawn shop route:
This is important not only because it will help you quickly narrow down the options that are available to you, but also so that it is easier for you to compare notes on rings that fit your criteria if you are shopping at several different pawn shop locations.
You will want to come prepared, so I recommend buying your own loupe if you are going to pawn shops. It also provides the added benefit of making you look more experienced, which may deter the broker from trying to take advantage of you.
Have the ring thoroughly cleaned before your shopping trip. A dirty D color diamond might look like an H color which is not good. You comparing a dirty diamond to one in a pawn shop could make you think you're looking at a D color. When you are not. Ouch.
When you go to have the diamond checked by an appraiser, don't use the one the pawn shop broker recommends. This article is about an unethical practice between appraisers and sellers in New York. If they can do it there, they can do it anywhere. I recommend that you find your own respected certified appraiser picked out ahead of time.
Most couples, when going to pawn shops, are looking for a ring that is either very simple or has beautiful old filigree details. I encourage couples to look at the ugly duckling rings too for their diamonds. I have seen some ghastly awful old rings with nice diamonds in them.
I would love to go to all of the pawnshops in the area and see what they have. If I found enough rings and other things I would probably start my own little pawn shop. How low has the price for something like a ring been?
Thank you so much Calla for such an informative article.You have very well described about benefits and difference of buying the diamond from the pawn shop and jewelry.I also liked the idea of rework that one has to do after buying the ring from pawn shop in order to make it special.
Hi Bruce, Thank you for your feedback. I know that everyone has their own view on how to find the ring they want to get married in. And I figured if rather than come to someone like me they wanted to go to a pawn shop, I wanted them to have some tips on the best way for them to move forward. Your Personal Jeweler, Calla
If you ever dreamed of designing your engagement ring, need advice while shopping, or have another project in mind, this book will open the door to the possibilities and give you the knowledge and inspiration to see it to life.
Some of our favorite things that Travis and I have purchased from Pawn shops are my laptop, an indestructible Bluetooth speaker, a vintage typewriter, workout DVDs, a Chromecast, and dearest to my heart, my engagement ring.
My boyfriend recently gifted me a promise ring after being together for 2 years and I chose out the ring. I found it on eBay. I purchased it from a pawn shop and it is a ring from Kay Jewelers that is currently $1,500 and my boyfriend only paid a $350 plus tax ?
Got mine at a pawn shop too!!!. 1.5 carats for $800, cant beat it! The pawn shop we went to also has a lifetime warranty. About a year after I got it I had a stone fall out. We took it back to the pawnshop they fixed it with no problems. Pawnshops are the way to go.
Be sure you know the karat if your ring is gold. If it has diamonds, research the price of the carat you have online. Spend some time looking up other engagement rings until you find one comparable to yours. Find ballpark pricing and remember that a pawn shop will only pay a percentage of the full retail price.
Ready to pop the big question? Choosing an engagement ring is the first step toward creating a beautiful future together with your special someone. However, before you run out to the nearest jeweler, consider the benefits of shopping with a pawnbroker. Did you know that the average price of a new engagement ring costs upwards of $4,999? When buying from a pawn shop, you can get that exact same ring for as little as $1,500.
Think about it this way: weddings are costly. When you save on an engagement ring, that gives you literally thousands of more dollars in your pocket to put toward your special day. It just makes logical sense to save! For more information on deciding whether to buy from a pawn shop or jewelry, check out the infographic below.
Any way you cut it, selling your diamond jewelry at a pawn shop will get you less money than other alternatives. Pawn shops leverage desparation to squeeze every last dollar out of their purchases. Selling to a reputable wholesaler online like Abe Mor will get you much better buck for your bling. 041b061a72