Should you Sell Gold and Diamonds to a Jewelry Store or Pawn Shop in South Florida

Both jewelry stores and pawn shops in Fort Lauderdale are both willing to buy the jewelry you no longer wear or want, but which is better? As with many things in life, there’s no easy answer, but we can certainly give you some information that might help you with the decision.

If you’ve got gold, you first need to know that as it’s traded daily, the price is constantly changing, and the current price is the current price for any gold the world over, including that you want to sell. That means you better be up on gold prices before you walk into any shop to start negotiating. Because the price fluctuates, you’re never going to be offered 100 percent of your gold’s value; for the store owner, it’s like buying stock, which means you buy low and protect against loss. Usual offers are between 40 and 80 percent of value, and exact amount is determined by what will be done with the gold, i.e. will it be sold as is, or melted down. Go where you can get the best offer.

18k-yellow-gold-lady-pave-diamond-bracelet
18k Yellow Gold Lady Pave Diamond Bracelet

The approach to selling gemstone, including diamond, jewelry is altogether different, and there a couple reasons why a pawn shop like National Pawn and Jewelry in Fort Lauderdale might be a better bet. Again, it comes down to what will happen to the stone once sold.

Diamonds and other gemstones are another story. Why? Because the future of a stone at a pawn shop is different from its future at a jewelry store. Once a jeweler buys a stone, he can try to resell it but that’s tough when people enter jewelry stores with specific ideas in mind. He can also reset it, but that’s going to cost money, which means he’ll be offering you less. A pawn shop owner, on the other hand, can probably sell it to a customer looking for a deal more than something specific, or, if a jewelry in his network is in the market for that type of stone, he can resell it. With one stop, a pawn shop owner offers you more options.

14k-yellow-gold-lady-pave-diamond-ring
14k Yellow Gold Lady Pave Diamond Ring

But don’t take our word for it. Shop your jewelry around, compare prices, and go with the best offer. But if you’re in a hurry, a pawn shop may be the best way to go.

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