Choosing Whether To Pawn Or Sell Your Jewellery
A lot of us will reach a point in our lives when we need some fast cash in our pockets, and you are reluctant to use a company offering Pay Day Loans. If you are not sure what these types of loans are, then take a look at different finance blogs for an overview on Pay Day Loans.
An excellent alternative to these companies that charge extortionate interest rates is to visit your local pawnbrokers and take down any items of value such as jewellery. One of the benefits of using a pawn shop is that it leaves you with two options, sell your jewellery or other valuables, or just pawn it and collect it at a later date.
Selling Your Jewellery To A Pawn Shop
When you have jewellery to sell, you will often find that unless you sell it privately, you will only be offered the scrap value of the precious metals and stones used to make the item. It is important to set your expectations before visiting a pawnbroker and know just what your jewellery is worth. They will work out the purity of the metals and also their weight, as well as appraising any precious or semi-precious stones.
The value of the metal is figured out using the current market price of the gold or other precious metals, and then deducting any commissions and charges that they charge. You will then be offered a cash amount for your jewellery, and you may take it or leave it, the choice is yours.
Pawning Your Precious Jewellery
The benefit of pawning your jewellery is that you can go back to the pawn shop and pay off your debt, and then take your jewellery home with you again. It is the perfect solution if you just need a little bit of money to tide you over. It is important to find a reputable pawnbroker, and Gold Buyers Melbourne is among the pawn shops in Melbourne people visit because they have such a highly valued reputation within the city and the surrounding areas.
All you need to do is to take your jewellery to the shop and let them appraise it for you. They will then be able to make you an offer to either sell it or pawn in. You will not be able to pawn any items for their full value as the pawn shop needs to make a small profit if you do not return and repay the loan. All you need to do is to agree to their terms and sign over your jewellery, and you will have cash in your pocket in no time at all.
Make Sure You Shop Around
It is important that you make sure that you shop around and speak to as many different pawnbrokers as you can to ensure that you get the best deal possible. The value of the jewellery will not usually change as it is based on its weight and also purity, but the charges and commission can vary a lot, so as well as speaking to all of the pawn shops you will also have to read and understand their terms and conditions.
Shop around and do not rush into a decision, if you do not feel comfortable then just walk away. Make sure the shop that you are looking to deal with is reputable, and you feel comfortable with the transaction. Make sure that you pay back your loan, and you can have your precious jewellery back before you know it!