I am going through a divorce and need some money ASAP, so I want to sell my wedding ring set. It's a 1 carat princess cut solitaire with a thick white gold band/setting, and the wedding band is a total 1 carat (I believe, maybe 3/4) with 8 princess cut diamonds and white gold. They are only about 1 year old. I'm not sure how much they sold for, but I think it was close to $4K. I've never done the whole pawning/selling thing so I have no idea how much I would get for it or what the process is. Unfortunately, I don't have the original paperwork on the rings either. How would I go about getting the right amount of money for these and how much would I get?? I just need someone to explain the whole process to me too. Thanks!
2006-12-06 01:57:13 · 6 answers · asked by QT from Cali 1 in Business & Finance ➔ Other - Business & Finance
A pawn broker is going to give you Maybe 1/10th of the value of the rings. A $4000.00 ring set might get you $300.00 or $400.00.
I'd look into a jewelry consignment shop, if they have one near. You're a little more likely to get about 1/2 of what you spent on it that way.
Maybe even advertise in the newspaper. You might get 2/3 to 3/4 of the value if you find a bargain-minded buyer.
Pawn shops are horrible rip offs. They pay lowball prices, then mark the stuff up to barely 10% off retail value when reselling.
2006-12-06 02:08:29 · answer #1 · answered by chocolahoma 7 · 0⤊ 0⤋
To pawn and to sell are two different things. Pawn means to borrow money against an asset. This indicates you want to pay the loan and retreave the asset.
To sell is just that.
A pawn shop will most likely give you less than half of what the rings cost new. That is if they are of good qyuality. If not then very little.
To sell is different and you must understand there are a lot of them out there for sell all the time.
Do not expect to get more than half of the original cost and most likely less than that.
Just because they are diamonds does not mean they are of reasonable quality. For sure they are not high qyuality.
2006-12-06 10:14:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
best bet is to go to a reputable jewelery store they may buy it from you or point you in the right direction. Do not pawn them you will get nowhere Worth their value. If you have an insurance appraisal take it with you to the jewelry store. I can not tell you what you will get for them because it all depends on the diamond and just cause they cost alot doesnt mean he got his monies worth.
2006-12-06 10:11:10 · answer #3 · answered by bb 2 · 0⤊ 0⤋
A pawnbroker will not give you nearly what your rings cost, maybe just one half or a third of the original amout. You can sell them to a pawnbroker or pawn them. In the latter case you would have the right to redeem them in a month for about $125.00 on every $100.00 advanced to you. They can appraise them for you.
2006-12-06 10:12:43 · answer #4 · answered by breeze1 4 · 0⤊ 1⤋
Dont do a pawn shop. Wont get near your money's worth.
Advertise it in your local paper, or sell it on ebay. Get it appraised first so you have official papers to go with it when you advertise it.
2006-12-06 10:14:28 · answer #5 · answered by yournotalone 6 · 0⤊ 0⤋
they wont give you much for any kind of jewelry. when my son pawned a ring set that he paid 1000 for, they only gave him 50 bucks!!!
2006-12-06 10:05:32 · answer #6 · answered by george 2 6 · 0⤊ 0⤋