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I want to sell some earrings at a Pawn shop. Do I have to pay a loan to sell them?

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posted on Dec, 9 2011 @ 09:05 AM
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Okay first off I have some old jewelery of my moms I just wanna get rid of "PERIOD." I don't want it back, I don't want to come back for it. I just want it gone. Do I have to pay a loan to do this? Can I just get my money and go? That and this jewelery has some gold and precious stones ect. in it. What should I expect for it? I found almost all of them I could in there and I just don't want to be ripped off. Sorry I can't post pictures on here of the items.




posted on Dec, 9 2011 @ 09:11 AM
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unless its different in the US you sell the goods for say 100, they will give you an option to but them back at interest say 130 within 30 days, you do not have to, so yes you can take the money and leave.



posted on Dec, 9 2011 @ 09:12 AM
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reply to post by Rishiana
 


If you don't want to be ripped off then don't go to a pawn shop.
I would find a fair gold dealer or someone who deals in jewellery.

Pawn shops are looking for deals...they are not in the business of giving you the value of an item which you could get elsewhere.
Thats why they do so well...they buy low and sell high.

All you have to do is pawn it and not go back and you walk away with the money...thats it.
(I don't suggest it but your choice is your choice)
edit on 9-12-2011 by DrumsRfun because: (no reason given)



posted on Dec, 9 2011 @ 09:13 AM
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reply to post by Rishiana
 



You can sell to a pawn shop, meaning they will sell it too. Or you can pawn it, meaning it's collateral for a loan.

Depending on the shop, you will usually get offered a fair price although don't expect to make full retail on it. For example, if you have a ring that's valued at $100, you can expect to get between $40-60 at a shop with a nice owner. I know a few shop owners in my town and they're pretty good about offers and would probably offer $55-70 for the ring In this example.

That being said, it's really likely that you'll walk in and they're going to throw a very low offer at you. Remember that you can take the stuff elsewhere, you don't have to give in to their offers. And remember, a pawn shop isn't your only option! There are other places to sell, but they vary from place to place and you'll need to look around.



posted on Dec, 9 2011 @ 09:13 AM
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1st take your jewelry to a reputable jeweler and get an appraisal. These are usually free or very inexpensive.

2nd do NOT sell your stuff to a pawn shop! They are in business to make money, not to help you out.
look online for gold dealers(or scrap dealers) to sell any precious metals. You will get more money that way.

The gemstones may be worth something to a jeweler who will use them for future projects,

Take a few minutes and call around. In the end you might actually get what the jewelry is worth.



posted on Dec, 9 2011 @ 09:14 AM
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Originally posted by trustnothing
unless its different in the US you sell the goods for say 100, they will give you an option to but them back at interest say 130 within 30 days, you do not have to, so yes you can take the money and leave.
Ah I see... that would be perfect for me. I may just go there and see how much I can get. Then come back later and decide on what the best price for the items are / is. Thank you so much for your help.



posted on Dec, 9 2011 @ 09:17 AM
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Originally posted by DrumsRfun
reply to post by Rishiana
 


If you don't want to be ripped off then don't go to a pawn shop.
I would find a fair gold dealer or someone who deals in jewellery.

Pawn shops are looking for deals...they are not in the business of giving you the value of an item which you could get elsewhere.
Thats why they do so well...they buy low and sell high.

All you have to do is pawn it and not go back and you walk away with the money...thats it.
(I don't suggest it but your choice is your choice)
edit on 9-12-2011 by DrumsRfun because: (no reason given)
Ah see I just plan to make some extra money for me to save and go shopping for. Your probably right that I should go to a gold dealer / ect. I do know of one near my house where I can take the "VALUABLE." jewelery and they also buy. Plus I'd rather someone get some use out of these earrings / gems. My mom is on a bi polar winter cleaning spree and if she doesn't want it well might as well me sell it LOL Thanks for your help.
edit on 9-12-2011 by Rishiana because: More info needed.



posted on Dec, 9 2011 @ 09:19 AM
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Originally posted by Mapkar
reply to post by Rishiana
 



You can sell to a pawn shop, meaning they will sell it too. Or you can pawn it, meaning it's collateral for a loan.

Depending on the shop, you will usually get offered a fair price although don't expect to make full retail on it. For example, if you have a ring that's valued at $100, you can expect to get between $40-60 at a shop with a nice owner. I know a few shop owners in my town and they're pretty good about offers and would probably offer $55-70 for the ring In this example.

That being said, it's really likely that you'll walk in and they're going to throw a very low offer at you. Remember that you can take the stuff elsewhere, you don't have to give in to their offers. And remember, a pawn shop isn't your only option! There are other places to sell, but they vary from place to place and you'll need to look around.
Ah I would rather sell it actually.... and yeah I will go looking around today if my friend doesn't mind taking me all over the place on our girls day out today. Thanks for your help.



posted on Dec, 9 2011 @ 09:20 AM
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www.wikihow.com...

Here's a decent guide on how to figure out how to calculate the scrap price of gold.
Then go do different places to find out how much they valuate your gold. ie how much they are willing to pay you.
Sell to the place that gives you the best price.




Determine the current price of gold. You can find this by searching the Internet or looking it up in your local newspaper. Gold is valued per troy ounce, with a troy ounce equaling 31.1 grams. The price of gold fluctuates hourly according to supply and demand, so the price may be very different in the afternoon from the price you saw in the morning.

It is best to use the Internet for updates, which you can even do while standing at the gold buyer’s counter by using your cell phone’s Internet access capabilities.

2
Divide today's gold price in dollars per ounce by 31.1 to get today's gold price per gram. For example, if today’s price per ounce is USD$1,600, then today’s price per gram is USD$51.45 (USD$1,600/31.1).
3
Multiply by the fineness of the gold. For each group of gold, divide the karat by 24, then multiply that number by today's gold price per gram. For example, if you have 10K gold and the current price of gold is USD$1,600 per ounce, or USD$51.45 per gram ($1,600/31.1), then the price of your scrap gold is USD$51.45 x .4167 = USD$21.44 per gram.

10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167

4
Multiply the price per gram by the weight in grams. If you have 10 grams of 10K gold and you calculated the price at USD$21.44 per gram, then your scrap gold is worth 10 x USD$21.44 = USD$214.40. Some examples:

If you have 5 grams of 14K scrap and gold is USD$1,600.00 today, then USD$1,600 divided by 31.1 would equal USD$51.45. That figure, multiplied by .5833 (14K) comes out to USD$30.01 per gram. USD$30.01 multiplied by 5 grams equals USD$150.05.
If you have 15.3 grams of 10K gold scrap, USD$1,600 divided by 31.1 equals USD$51.45, and that amount multiplied by .4167 (10K) equals USD$21.44 per gram. USD$21.44 multiplied by 15.3 grams equals USD$328.02.
Most people use grams for these calculations but some gold buyers use pennyweight (DWT) instead of grams. There are 20 pennyweights in a troy ounce. You can substitute 20 for 31.1 to calculate pennyweight in our formula. You can also multiply a pennyweight by 1.555 to get an equivalent gram weight or divide a gram weight by the same 1.555 to get pennyweight.[4]

edit on 9-12-2011 by grey580 because: (no reason given)



posted on Dec, 9 2011 @ 09:20 AM
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they will offer only what its worth in weight..

you will be lucky to get 50 bux at a pawn show



posted on Dec, 9 2011 @ 09:20 AM
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Originally posted by redbarron626
1st take your jewelry to a reputable jeweler and get an appraisal. These are usually free or very inexpensive.

2nd do NOT sell your stuff to a pawn shop! They are in business to make money, not to help you out.
look online for gold dealers(or scrap dealers) to sell any precious metals. You will get more money that way.

The gemstones may be worth something to a jeweler who will use them for future projects,

Take a few minutes and call around. In the end you might actually get what the jewelry is worth.
Yeah your right. I think I will go to a gold / jewel dealer and see what they say and how much I should get. I may end up just selling the plastic stuff at a pawn shop though. Because its relatively worthless.



posted on Dec, 9 2011 @ 09:23 AM
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reply to post by grey580
 
Hey thank you Grey580 but sadly I suck at math. But I do appreciate your help!!!



posted on Dec, 9 2011 @ 09:24 AM
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reply to post by spaceg0at
 

Thanks for the reply. Its looking less and less likely I will sell at Pawn Shop.



posted on Dec, 9 2011 @ 09:30 AM
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reply to post by Rishiana
 


first thing is first.. You can make money even if you have to pay a loan. You should have a structured deal on the loan, tht you pay x amount regularly. If it is debt collectors, then thats different, but you still dont have to pay with the money you make off the jewelery. 2nd, ats isnt the place to research the price of gems and stones and gold when its in jewelery form. Jewelery is strictly market, and not like the gold and precious stons its made out of.. It doesnt hold its value compared to the gems and gold alone. I would start by searching jewelery stores for compareable items. 3rd, pawn shops suck, so depending how quickly you need the money, I may try a different route, be it ebay or something. Make sure you know the quality of the gold, and a fare guess at the stones weight. You can always walk away from the pawn shop, remember that. They love suckers like you, dont take that as an insult.. Keep researching and be prepared.



posted on Dec, 9 2011 @ 09:40 AM
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Depending on the amount you are dealing with, I would take the stones out and melt it down and recover the metals. That can be your first step in collecting gold, silver and platinum.
edit on 9-12-2011 by Skewed because: (no reason given)



posted on Dec, 9 2011 @ 10:02 AM
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You will always get ripped off selling it to any business. They need their profit, and profit isn't a few bucks, you'll most likely get $10+ less than what it's worth, each piece, unless you're selling a lot, in that case a nice dealer would give you a decent deal for the bundle.

You should get the jewelry cleaned up, nice and shiny, get it appraised, then hop on eBay and sell them as accessories. You'll get more like that than out of a dealer that would most likely melt it down to make something new.



posted on Dec, 9 2011 @ 10:24 AM
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reply to post by Rishiana
 


you can sell them to the pawn shop outright or you can "Pawn" them, meaning that you take out a loan and they keep the item(s) as collateral. You have a predetermined period of time to pay the loan back and reclaim your item(s) or they keep them. The only thing is that a pawn shop will give you bottom dollar for something because they are re-selling the item. Your jewelry may be worth $2000, but they will only give you say $800. There are far better ways to sell your stuff than a pawn shop, but if you need cash in a hurry a pawn shop is the best way to go.



posted on Dec, 9 2011 @ 02:53 PM
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reply to post by Myendica
 

Hey thats why I came here for "OPINIONS and ADVICE" because I sadly suck at researching and doing things such as this. I have a good idea to go to jewelery stores for an appraisal which can be done for free. I also can ask my friend I shalt call him Ratsu for help on how much they may be worth. He's pretty good with money. Thank you for your advice though.



posted on Dec, 9 2011 @ 02:54 PM
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reply to post by Skewed
 

o.o Well I would if knew how and could do it safely. Well hey thank you for your response.



posted on Dec, 9 2011 @ 02:56 PM
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reply to post by FidelityMusic
 

That orrrr I could just show it to friends all prettied up and see how much they'd buy it for. Some of the earrings are really nice and old fashioned and well painted. I'd keep those but I dunno if I'd ever wear them. Oh well.. thanks for your thoughts.







 
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