When people are in financial distress, they push to recover as quickly as possible, often through selling belongings. Perhaps one of the easiest types of belongings to sell is jewelry. If you need to sell jewelry quickly, you should consider a pawn shop before anything else. When looking at your jewelry collection and considering pawning it, you want to know what would fetch the best possible price. Let’s look into the most commonly pawned pieces of jewelry.
1. Engagement Rings
Although it may seem like a bit of a cliche, it is true that people pawn engagement rings when they choose to sell jewelry. These rings could be leftover from a failed marriage or broken engagement. An individual might have their proposal rejected; often, these rings cannot be returned after they’re initially bought. Selling an engagement ring will not only give you quick cash but help rid you of any bad feelings left over from the relationship.
Some choose to pawn their nice watches. Watches often maintain value better than pieces of traditional jewelry, and luxury watches are pawned by 3.9% of Americans who need quick cash.
Pearl bracelets and necklaces are often taken to pawn shops when people need to sell jewelry for cash. This is in part because pearls are quite common as an inheritance. With that being said, pearls can range in quality, so you might not always get a big payout from them.
Brooches can have jewels in them that are quite valuable, from rubies and emeralds, to even diamonds. But the reality is that many of us don’t wear brooches very often anymore. For that reason, they’re often some of the first pieces pawned when people need to sell jewelry.
There are so many reasons why you may need to sell jewelry at some point. A pawn shop can offer cash on the spot, though you may potentially take a loss on items that you sell. If you plan to sell your jewelry, do your research to get the best price.