Customers who have jewelry to sell always want to get the most for their items as possible, but where is that? At a retail jewelry store or a pawn shop in Northern Virginia? There’s no simple answer to the question, but there is information that’s useful to have.
Let’s start with gold. Gold is an open market commodity, meaning it’s traded every day, the price is constantly changing, and everybody in the world knows and works with the same current market value—including you when you have a gold item to sell. You should know that price when you walk into any place looking to sell your gold, and then know that no matter where you take it, you’re likely to be offered 40-80 percent of its value, depending on whether it’s going to be melted down for reuse or sold as is. Selling gold is like selling stock, and nobody wants to take a loss with it when the market dips.
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 jewelry buys a stone, he’s limited to what he can do with it, because people walk into a retail outlet wanting a very particular type of stone. But a pawn shop owner has more options; he can a) sell it to a customer who might be willing to compromise exactly what he’s looking for in exchange for a better deal b) sell it to any jewelry who is looking for a similar stone. As such, a pawn shop like Loudoun Jewelry on Maple Avenue is likely to give you a better deal for your stone.
As always, if you have the time and patience, we recommend trying a few places before making a decision about where to sell. But, if you’re in a hurry, all things being equal, a pawn shop may be your best bet.