People bring their engagement rings to our pawn shop in San Diego for a variety of reasons.
Maybe it is the last reminder of a past relationship. Or they may just need an instant cash loan, and are looking to use the ring as a collateral.
But before we discuss how much a pawn shop would give you for an engagement ring, you should first consider your options. These are:
- Selling an engagement ring at a pawnshop. If you don´t want the ring and the memories it carries anymore, you can just sell it. Pawn shops will usually offer you a bit more money for the things you sell them, than for items you bring in to get a pawn loan.
- Using the engagement ring to get a pawn loan. If you can dissociate from the sentimental aspect, engagement rings make very good pawns. They are usually one of the most valuable pieces people own, and the more valuable the item, the more money you can get for it. Now remember, not every pawn shop in San Diego deals with diamonds, but at CashCo we do. If you pawn responsibly, by factoring in your payments into your budget, you’ll be able to retrieve the item without a
- Choosing your pawn loan terms. CashCo is the only pawnshop that offers a variety of pawn loan terms to fit your needs. You can choose for a 4, 5 or 6-month pawn loan.
So how does a pawn shop determine the value of an item?
Here are a few elements that come into play when a pawnshop evaluates the value of engagement ring:
- The diamond at the center is usually the most valuable part of the ring. A pricey stone is usually worth more than the ring where it sits.
- A diamond’s value is determined by several factors, including the Carats, cut, clarity, color, and hue.
- The offer will be based on the wholesale value of the engagement ring -not on its retail price, which is around 20-30% more expensive
- Metal composition and weight. The metal’s purity is indicated by the 10kt, 14kt, 18kt or 22kt markings on the ring. The higher the number, the purer the gold is. Heavy rings usually also have more gold.
- Remember that the value of gold changes daily, so your quote is bound to change from one day to the next
- A certificate of authenticity and other documentation could increase the value of the loan, and expedite the transaction.
You can also use our online Get a Quote tool to get an estimate of how much CashCo would pay for your engagement ring.
Our last recommendation is to always deal with a trustable and reliable pawnshop. This is essential for a fair, safe and smooth transaction.