You’ve just inherited a box of jewelry so you head to a Fort Lauderdale pawn shop to see what it’s worth. That’s how it usually goes. It sounds simple, but determining the value of estate jewelry often isn’t.
You might be surprised—if you’ve ever bought jewelry retail—that the price you get for jewelry you sell is far, far lower; that’s because it’s the item’s liquidation value, the amount it’s worth on the spot. Some old jewelry is good for nothing more than scrap metal, particularly if it’s broken or not real gold. Small diamonds have to be of good quality to recoup their value, and even larger ones may only be worth fifty percent of their wholesale value (less if they’re not round).
Pawning estate jewelry may garner an even lower price because the sale isn’t really a sale but a loan with the jewelry as collateral. Because a pawn shop like National Pawn and Jewelry can’t resell an item until the loan period has expired, the shop can’t afford to be out as much cash for it. Selling the item outright can earn you up to double the amount of the loan value. Keep an eye out for brand names and high quality items that can command higher values.
Next week, we’ll talk the different values that can be assigned to estate jewelry when you bring it to a pawn shop in South Florida.