Shane’s – The Pawn Shop, Inc

Buying Jewelry at a Pawn Shop

Wedding and Engagement Rings

by: HubPages

Most people would go to a chain jewelry store or Walmart or the Mall when considering purchasing an engagement ring or wedding bands. Have you considered your local pawn shops?

Make a list of your local pawn shops in the area and do your homework. What homework? Understand the basics of buying a diamond. Understand that chain jewelry stores, the Malls, Walmart etc. all carry approximately the standard F to J color I1-I2 clarity diamonds and charge you 5 to 10 times the price!

There are jewelry stores that carry better clarity grades in diamonds, in the SI1-SI2 range, but the price is much higher.

Ok, back to your homework—-the 4 C’s for diamonds– cut, clarity, color, carat weight.

Cut= round, marquise, princess, pear, oval

Color= ranges are from D to Z

Clarity= F (flawless) to I3 (Included, can see with unaided eye)

Carat = 1 carat diamonds are more rare and will cost more

Know what you want before you go to the pawn shops. A good pawn shop will know the above about their inventory and the gram weight.

Example, at the Mall you may look at a .25 carat round brilliant cut diamond engagement ring set in 14k white gold with a I-J in color, I2 clarity selling for $400-$500. At the pawn shop you may find the same ring selling for $225-$250. But you may also find a .50 carat round brilliant cut diamond set in 14k white gold I-J color, I1-I2 clarity at the Mall selling for $1000-$1500, and at the pawn shop that same ring sells for $500-$600. If you are looking for a higher clarity grade, you will be paying probably double the price.

Malls have to pay for their name (for example Zales) and the Mall space rental. Pawn shops probably pay less for their space or the own their building.

Most pawn shops will have a wide variety of clarity grades. You will be saving a lot of money going to your local pawn shop and may even find a one of a kind designer or custom made piece at a fraction of the cost! Pawn shops are also willing to buy gold from you toward your purchase or even negotiate their prices, where Malls will not.