Buying Jewelry: Retail vs. Pawn Shop

When it comes to purchasing jewelry, many people head straight for their local retail jeweler without considering other options. One often overlooked alternative is buying from a pawnshop. Not only can you purchase luxury jewelry or wholesale jewelry at your own convenience – day or night – but you can also save lots of money in the process.

Retail stores mark up the original price in order to make a profit from reselling the item they bought from the manufacturer. Meanwhile, pawnshops typically offer these exact items at a large discount.

Pawnshops also offer you the opportunity to trade in unwanted items for cash or other available products, making it even easier to obtain that new watch or necklace you’ve been eyeing. While some retail jewelers do accept trades, pawnshops are more likely to give you a better value on the exchange. This is because pawnshops have multiple avenues for reselling jewelry, not just to their customers, but to other jewelers in search of a specific item as well. Retail jewelers, however, are less likely to resell highly desirable items like precious stones to another jeweler.

 

Here are some useful tips to keep in mind when buying or trading jewelry:

• Go online to research the MSRP of the jewelry item you want to purchase.
• Call or visit your local jewelers and pawnshops to compare offers.
• If you plan to trade something in so you can get something new, find out how much traders are willing to offer in exchange for those items before closing the deal.

 

If you’re in the market for new luxury jewelry and accessories, visit the GEM Pawnbrokers website today at https://gempawnbrokers.com/

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