You shouldn’t just write off your broken jewelry as being worthless as it can still hold some residual value, but this will depend on the item, the type of damage and what is made of. But where should you take these broken or damaged pieces of jewelry to see if they hold any value?
Pawn shops can be a good place to take your broken jewelry to see if they are worth anything as they are easily accessible and can offer a fair and competitive price for jewelry.
Will a pawn shop buy my broken jewelry?
A pawn shop will appraise the jewelry to see what the piece is worth and whether the piece can be repaired. The piece if it can be repaired can be sold and will have a value as a piece still but the repair costs will be factored into the valuation given.
If the piece is not repairable then there can be elements of the piece that can still hold some value which can be reused. For example, if your piece is made from gold it can be weighed in for cash as gold is in high demand so no matter what state your rings, necklaces or earrings are in, they will have some value due to the gold value. You also need to consider the gemstones that they may contain such as diamonds as these will also have a value as well.
Should I sell my broken jewelry to a pawn shop or gold buyer?
There are advantages of selling your broken jewelry to a pawn shop as they will appraise the piece face-to-face and give you a fair and honest appraisal of the item based on whether the item can be repaired or is only worth the gold weight. As you can visit them you get the valuation straight away without having to mail the piece and wait, and the money is given to you straight away with no delays.
Pawn shops typically offer higher values for gold than gold buyers. Statistics show that gold buyers often offer 40% of the value whereas pawn shops are higher at up to 70% of the value.
So it is definitely worth having your jewelry appraised at a pawn shop to see whether it can raise some money for you. We have 24 conveniently placed branches across the New York City area, so you are never too far away from one of our experienced appraisers. Visit us to find out what your broken and unused jewelry could be worth.
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What is layaway at a pawn shop?
Layaway is a purchasing option which allows you to pay a deposit only so that the item that you want to buy can be put away for you so no one else can buy it. You are then given an agreed period of time to pay for the item which could be in instalments or a single payment before the end of the term.
What can you buy with layaway at a pawn shop?
Layaway purchases are only really suitable for high-value items as less expensive items are not worth the effort to do the paperwork for and can be more easily purchased in one payment. Pawn shops offer a wide range of high-quality preloved goods that are suitable for layaway.
You could use layaway to purchase items such as jewelry like engagement and wedding rings, designer handbags, electronics, and power tools.
Why would you choose layaway to purchase an item?
When you are looking to purchase something but you can’t afford to pay for it, layaway can be a great option to finance the item and there are several good reasons why you should consider it.
Firstly, items purchased on layaway are not charged interest, you will just need to pay a deposit which is typically a percentage of the item price and then pay the balance in instalments or a single payment. There are also no hidden fees involved with layaway as it is a straightforward purchasing plan.
You also don’t need to have a good credit rating to access layaway as it isn’t a loan that requires a credit check and your ability to pay isn’t checked. All you need when you take out a layaway agreement is the deposit and valid identification. This also means that the purchase will not affect your credit rating and you do not have to pay credit charges for using a loan or credit card which are linked to your credit rating.
Using layaway to purchase an item can enable you to purchase something that is currently beyond your current means as you can pay for it over a period of time. So if you see an item that you love, you don’t have to miss out on it or hope that it is still available when you can afford it, you simply pay a deposit to have it securely put away for you whilst you pay for it.
]]>Grab yourself a great deal
Designer watches tend to have a high ticket price and if you struggle to afford these or can’t warrant the outlay of this amount then you should look at preloved designer watches as they offer a better price. Preloved designer watches are popular with many different places to buy them but if you want a safe and trustworthy place to get a preloved designer watch then you should visit a pawn shop.
Pawn shops offer competitive prices for items like designer watches and they provide a safe way of selling and buying goods. You can walk in and trust that the watch has been checked and the price is a fair reflection of its value. When purchasing designer watches, pawn shops will check them thoroughly to ensure that they are in good working condition as well as genuine products.
Tips on buying a preloved designer watch
When you are looking to buy a preloved designer watch you need to be careful that you are getting a genuine watch that is worth the amount of money you are purchasing it for. Many counterfeit watches on the market can be really good copies of designer watches so it can make assessing the watch difficult on your own. There are ways to check the watch which includes examining and comparing the materials, finishing, engraving and serial numbers. At a pawn shop, this is taken care of for you as this is part of the appraisal process before the watch is purchased.
You should also have a good think about the type of watch you want to buy and do some research on it so that you have a better understanding of the design and value of the watches that you might be looking at. This can help you negotiate the price to get the best deal.
Why choose GEM Pawnbrokers?
As one of New York’s largest pawnbrokers with a long history of serving the community, you can trust our experienced teams as well as benefit from our competitive pricing. We have 24 conveniently located stores across the New York City area that have a broad range of goods available as well as providing some items for sale online, so why not visit us in one of our stores or online to find your next timepiece?
]]>Selling your designer sunglasses privately vs a pawn shop
There are many places where you can sell your designer sunglasses which include selling them through an online marketplace or preloved sites, or you can sell them to a pawn shop. If you sell them privately online you will need to handle all the promotions and communications with potential buyers. This will include taking photos and creating a listing with a description of them. You need to negotiate with buyers, manage the payment and sort out collection or delivery as well as handle any issues if they arise. There may be costs to factor in including selling fees, packaging and delivery costs.
If you sell your designer sunglasses to a pawn shop you will only need to take them to the pawn shop for an appraisal and agree a price for them. You can negotiate the price and then walk away with the money the same day. So, it can be much quicker, simpler and convenient.
Selling vs pawning your designer sunglasses
Whether you decide to sell or pawn your sunglasses is a personal decision about whether you want to have your sunglasses back again or whether you can live without them. The two options are:
Selling your designer sunglasses – if you sell your sunglasses to a pawn shop they will be appraised, and a price agreed. And as mentioned above you can walk away with the money straight away.
Pawning your designer sunglasses – the difference with pawning your sunglasses is that after the appraisal you will be given a loan quotation that will detail the loan amount with interest and the length of the loan term. If you agree to the loan, the sunglasses will be retained by the pawn shop and stored securely for the length of the loan. You will get the sunglasses back once the loan has been repaid. If you are unable to repay the loan in full the pawn shop can sell the sunglasses to recoup their losses, but before this happens you can discuss if a loan extension is possible.
Where to sell or pawn your designer sunglasses
In New York City there is no better place to go than GEM Pawnbrokers as we have a long history of serving the community with our pawnbrokers and are one of the largest pawnbrokers in the area with 24 conveniently located stores. So why not visit us and see what we can offer you for your designer sunglasses?
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What is pawnbroking?
Pawnbroking is the term given to a money lender who uses personal property as collateral for the loan which can be sold if the loan is not repaid within the agreed timescales. The loans that pawnbrokers offer are short-term loans which are secured against the collateral item.
How does pawnbroking work?
The process of pawning an item works by the individual bringing an item that they want to use as loan collateral into the pawn shop to be appraised. Once appraised the pawn shop will make a loan offer for an amount plus interest and a fixed term to repay the loan. If the loan is accepted the collateral item will stay with the pawn shop until the loan is repaid.
Unlike many loans, the process is quick and simple. There is very little paperwork to complete and there are no checks undertaken on your background and credit history, so this type of loan is available to more people. Loans are fast too because of this and you can walk away with the money straight away in most cases.
It is also worth noting that if you miss a payment or fail to repay the loan it won’t affect your credit rating, but you may lose your collateral item. If you are struggling to repay the loan in time, you should discuss it with us to see if we can extend the loan term to help you.
What can I pawn?
Pawn shops handle a wide range of goods so the list is fairly endless, so it is worth discussing your item with the pawn shop to see if it is acceptable as collateral if you have an item that is worth a reasonable amount.
Generally, some of the items that pawn shops tend to take as loan collateral are a variety of jewelry, watches, electronic goods, antiques, designer items and cars.
How much will I be offered for a loan?
The amount of money you will be offered as a loan will vary depending on the valuation of your collateral item. The condition of the item will also affect its value which is why an appraisal is undertaken so that a fair valuation can be given. The valuation and the loan amount however will differ as the loan will never be for the whole value of the item but for a proportion of it.
Where to go for a pawn shop loan
In New York you are spoilt for choice with pawnbrokers, however, GEM Pawnbrokers are one of the best New York City pawnbrokers. We have been serving the area for over 70 years and are the name you can trust with 24 conveniently placed stores across New York City.
]]>What is an installment loan?
An installment loan is a loan that provides the borrower with the loan money upfront as a lump sum and they repay the loan in installments over a fixed period of time called the loan term. Installment loans are one of many names given to this type of loan which may also be known as a term loan, personal loan or short-term loan.
Installment loans can be for a few months to a few years but they are generally repaid in monthly installments. The payments are normally a fixed amount each month which repay both the original loan amount plus the interest as well.
What can you get with an installment loan?
There is a huge range of installment loans that are available from a wide range of providers as it is a very common type of loan. These loan forms include mortgage loans, home improvement loans, student loans, vehicle loans and debt consolidation. It also includes our loans as pawnshop loans are also a type of installment loan.
Is an installment loan the right loan for you?
As with any loan you need to make sure that the loan fits with your circumstances. Installment loans are one of the most common loan types as they are easy for both the lender and borrower to issue and repay. Installment loans are generally available for a small to large amount of money for short to longer periods as they can be built around your requirements.
The borrower can more easily work out whether the loan is affordable as the repayments are known in advance and are fixed for the loan term, so the borrower can budget for them. Some installment loans will also allow you to pay the loan off early and you may save money on some of the interest.
Adversely though you need to be aware that some installment loans have some negatives. Interest levels and fees vary depending on the provider, so you need to shop around to get the best loan deal. If you miss a payment or pay late there may be consequences as it can impact your credit rating. And if you have taken out a secured loan then the item used as security, such as your home, could be at risk if you don’t repay the loan.
]]>These rules have been put in place to protect children and young people from being taken advantage of.
What type of loan to get?
If you are over 18 and want to get a loan then you may be finding it confusing looking at all the loans available and trying to find one that suits your needs. If you want a quick and simple loan that doesn’t require your credit history then a pawn shop loan might be the right one for you.
A pawn shop loan is a quick and easy way to get a loan because you don’t need to complete lots of paperwork or undergo checks and have your credit history checked. It also doesn’t impact your credit score and the rates are competitive. You just need to provide an item as collateral for the loan. This is why pawn shop loans are so popular as they are open to so many people.
So how does a pawn shop loan work?
A pawn shop loan is simple, and you can walk out with the loan the same day. You will need to visit one of our 24 conveniently placed stores across the New York City area with your collateral item so we can appraise it and offer you a loan based on its value. It is then up to you if you accept the loan offer or walk away.
If you take the loan, you will receive the money straightway and we will retain the collateral item for the duration of the loan where we will store it securely. When you have repaid the loan you can collect your item. If you have difficulties paying your loan, you should contact us to discuss it as we may be able to extend the loan term.
If you are over 18 and looking for a loan and a pawn shop loan sounds good, visit us and find out how much we can offer you.
]]>Pawn shops deal in such a broad range of items that they purchase or use as collateral in a loan and therefore these may need to be handled differently. Whatever you are selling or pawning will need to be properly assessed and valued to give you a fair and honest price.
How to assess an item’s value
Most items will undergo an appraisal to see what the item is worth. This involves checking the item to see what condition the item is in and if anything is distinguishing about it. They will look at any markings or manufacturer's labels, examine them for any wear or tear and damage, and check any provenance.
During the appraisal process, the market will also be looked at to see how saleable the item is including looking online to see the market value for the item. The current economic climate would also need to be factored in as this can impact the saleability of the item. They would also look at their stock to see if they have similar items in stock or have sold similar items in the past to see how well they sold previously and their value.
For some items, it may be necessary to seek additional help which could include:
Value Databases – there are many different types of specialist value databases available to pawnbrokers to assist them in valuing items and these are often referred to as a ‘blue book’. These online value databases such as Orion Blue Book are frequently updated to provide accurate prices as a guide for pawnbrokers. Some pawnbrokers may have an in-house version of a value database that they have compiled themselves which can help staff in appraising items based on their condition.
Specialist consultations – when faced with an unusual item or one that they haven’t come across before, they may call upon a specialist to consult on the item. This is more likely to be the case for antiques and historical items where expertise is required to verify the item.
Now that you understand how a pawn shop determines the value of an item, do you want to see what your items are worth? Visit one of our 24 conveniently located stores across the New York City area to see what your items could raise for you either selling or pawning them.
]]>Many of us may shy away from buying used electronic goods especially smartphones as we have become so reliant on them and don’t want to get caught out with a poor condition smartphone. So how do you know what to look for and where to buy them?
What to look for in a used smartphone
When you are buying a used smartphone there are several things you should look for:
Once you have bought a smartphone it is advisable to perform a factory reset to ensure that there is nothing left on the phone from the previous owner and so the smartphone is in the best possible state for you to start using it.
Where to buy a used smartphone
When you are spending a lot of money on an item and it’s something that you are going to use heavily, you want to trust who you are buying it from. Buying a used smartphone from an anonymous person online can be risky which is why many people like to purchase their smartphone face-to-face and there aren’t that many places to buy used smartphones face-to-face.
A pawn shop provides a safe face-to-face place to purchase smartphones and you can be assured that the smartphone has been checked and is operational. All items in pawn shops are checked and tested before they are purchased and put on display. The details provided can also be relied upon as being accurate and trustworthy.
We have a broad range of smartphones that have been checked and we will happily guide you through them in one of our conveniently placed 24 stores across the New York City area. Call in today and see what great deal you can get on your next phone.
]]>As pawn shops deal with a wide variety of items the list is endless of what you can pawn but if you want to raise $500 here are a few ideas of what you could use to raise some or all of the money:
How to pawn your items
Pawning your items couldn’t be easier once you have selected the items to use as collateral for your loan, you just need to bring them to the pawn shop to be apprised and a loan offer will be made. If you accept the loan offer, your item/s will be stored safely for the term of the loan and once the loan is repaid, you will get your items back.
So come and visit us at one of our 24 conveniently located stores across the New York City area to see how much your items can raise.
]]>Buying designer sunglasses from a pawn shop
We may not be the first place on your list (even on your list) to buy designer sunglasses but let us explain why we should be the first place.
If you are seeking a good deal on your designer sunglasses, then look no further. Typically pawn shop items are 30-40% cheaper than their high street equivalent because they have been preloved. This doesn’t mean they look worn, in fact, a lot of our items have been very well cared for.
If you are seeking out preloved designer sunglasses, then there is no safer place to buy them from. We check all items thoroughly before we purchase them to ensure that they are genuine and in good condition. We sell our items at a fair and competitive price and we will not rip you off like some online sellers might.
Our designer sunglasses are displayed in store and you can examine them yourself and try them on. Our range is always changing and never limited to what the designers are releasing as we buy preloved sunglasses of a variety of ages, so we often have some unique and rare finds.
Selling your designer sunglasses to a pawn shop
If you have never thought of selling your designer sunglasses to a pawn shop you should think again. It is a great way to release some cash simply and quickly. Why have sunglasses lying around unwanted when they could be used to raise some cash?
With a finite number of places to sell designer sunglasses to, many people resort to selling them online. This has its own set of problems and hassles to contend with. Firstly, you need to list them with appropriate images and handle enquiries from potential buyers. You will need to handle negotiations, take payment and arrange collection or delivery. If you send the sunglasses there might be issues with them being lost or damaged. There will also be fees to pay, packing and delivery costs to factor in.
When you take all of this into account, selling to a pawn shop can be much easier. To sell to a pawn shop all you need to do is take the designer sunglasses into a store for them to be valued and they will make you an offer. You can negotiate if you want to, and you can walk away with the money immediately.
So why go elsewhere? If you want to buy or sell your designer sunglasses visit one of our 24 conveniently placed stores across the New York City area.
]]>The key reasons that people are choosing pawn shop loans are:
A pawn shop loan in comparison to other personal loans can be very simple to take out. There are no forms or applications to complete, and you won’t have to provide lots of personal information. Your credit rating won’t be checked and we don’t want to know about your income.
Because we don’t need to undertake checks and there are no forms to complete, the loan can be completed quickly. The only requirement is that you bring your loan collateral item/s in for inspection so that we can value it. Based on this valuation we will make you a loan offer which will be less than the item's value. This process is fast and you can walk out with a loan on the same visit.
Pawn shop loans do not need any credit checks or background checks for their loans, so it doesn’t matter about your credit score. So pawn shop loans are accessible to more people as they do not preclude anyone. All you need to get a loan is a collateral item/s that is valued high enough for the loan amount you want.
A pawn shop loan doesn’t impact your credit rating as the loan is secured against your collateral. If you don’t repay the loan, the collateral item is kept by the pawn shop and can be used to recover the loan amount. Unlike other loans, defaulting on the loan won’t end up on your credit report or impact your credit score.
A pawn shop loan offers fair and competitive loan rates, unlike some other loans such as payday loans which traditionally have higher rates and unfair terms. With a pawn shop loan, you will get your collateral item back which means you have an item that can be used again in a loan in the future.
So if you are looking for a personal loan and a pawn shop loan sounds like a suitable option for you, visit one of our 24 conveniently located stores across the New York City area. We will be happy to discuss the loan with you and value your item/s.
]]>What are pawn loans and payday loans?
A pawn loan is a loan that you take out using an item that you own as collateral. This item will be worth more than the loan amount and during the loan term, the ownership will be transferred to the pawn shop. Once you pay off the loan including the interest you will get the collateral item back. If you fail to repay the loan, the pawn shop can sell the item to recoup the money.
A payday loan uses your next paycheck as assurance, and you have up to a month to repay the loan depending on when you are paid and when you take out the loan. These loans tend to have high-interest rates and can impact your credit rating.
Why choose a pawn shop over a payday loan?
There are many reasons to choose a pawn shop loan over a payday loan. Firstly, it is worth knowing that many states have prohibited payday loans or have set boundaries in place so that the borrower is not charged unreasonably high-interest rates. These still tend to have higher interest rates than many other loan options, but they remain popular due to the speed and short-term nature of the loans. However, a pawn shop loan can also offer speed and short-term loans without the high-interest rates.
Pawn shop loans are much fairer loans in many ways. Our loans offer fairer interest rates and more flexible term lengths to suit your needs. We also offer the opportunity to extend your loan if needed so that you don’t lose your collateral item if you can’t repay the loan by the end of the loan term.
Getting a loan from us is also very straightforward as all you need to do is visit one of our conveniently placed branches with your collateral item for us to appraise it and make you a loan offer. You can walk away with the money the same day.
We don’t even need to do any checks on you in terms of your credit rating or income like a payday loan company or any other loan company would. And our loan won’t affect your credit rating either.
So, for a quick, easy, and short-term lower-cost loan visit one of our 24 branches across the New York City area to find out what we can offer you.
]]>Pawn shops offer great value on rings that you wouldn’t get in other stores, and they have a unique range of rings, so it is always worth a look to give you more money to spend on the wedding or honeymoon.
How to get the best deal from a pawn shop
Firstly, you should always know what you are looking for and what your spouse would like. Do they have a metal preference such as gold or platinum and what carat, and do they have a color preference such as gold or silver? Are you looking for something modern and stylish or classic and elegant? Do you want something with stones? If it is going to sit alongside other rings how will it impact what you want? Knowing what you what before shopping can save you time and stop you from being tempted by something that isn’t right.
Now that you know what you want, you should do some research and understand the price of similar rings so you have an idea of what you may need to spend. This then gives you some knowledge and bargaining power to negotiate on price.
Negotiating price is acceptable at pawn shops, where it isn’t at most jewelry stores so be prepared to haggle to get yourself a better deal. Having done your research be realistic in your offer and negotiate to get a good deal.
It is also worth noting that you can get a better deal if you pay cash so if you can pay by cash, take cash with you and reap the benefit of the extra negotiating power of having cash too.
It is also worth keeping an open mind as some of the jewelry may be old and in need of a little TLC. Don’t write these pieces off as they could offer a good deal and with a professional clean, they could be the perfect ring.
So, if you are looking for a wedding ring, visit one of our 24 conveniently located branches across the New York City area and see what fantastic piece you can find at a great price.
]]>How is selling your gold different when selling to a gold buyer vs a pawn shop?
There are several key differences between pawn shops and gold buyers which are mainly around the process and the amount offered.
The processes are very different as a pawn shop is very personal and completed face to face in a single simple transaction. All you need to do is visit with your item and get it appraised. They will make you an offer and you can negotiate. You will be paid straight away.
A gold buyer tends to operate by mail, and you will need to provide them with a photo of the piece first. You will be sent a mailing label and asked to package your item and post it to them. They will appraise the item and send you a check for it. If you aren’t happy with the value, you can ask them to return it, there is no opportunity to negotiate. The whole process can take days or weeks.
The value offered for your item can vary depending on the buyer, but all buyers use the same gold values as a guide. As an indication you can typically expect gold buyers to offer lower amounts sometimes as low as 40% of the value, and pawn shops typically are higher up to 70% of the value.
So, as you can see a pawn shop will tend to offer a high amount and be much quicker. Other differences include that a pawn shop will allow you to negotiate, and they will also offer the option of a collateral loan.
Signs to be aware of
There are many fraudulent businesses out there taking advantage of people and you should be cautious in which you choose to sell your gold. Many are set up and vanish before they are caught but make plenty of money in a short amount of time by advertising heavily and pressuring people into acting fast.
When choosing a company do your research and check whether they are part of a regulated association or licensed.
You should also research what you are selling so that you have the information you need to negotiate on price.
If you are looking to sell gold in the New York City area then you should visit GEM Pawnbrokers who have been a trusted part of the community for over 70 years. We have 24 conveniently located branches across the New York City area that will offer you a warm welcome and a fair and competitive price for your gold. Come and see us and find out what your gold is worth.
]]>However, pawn shop loans have rules and regulations that need to be adhered to under the law and are stringently applied. Many people are unaware of the pawn shop rules and regulations so we thought we would share these with you.
How do pawn shop rules and regulations work?
When you pawn an item at a pawn shop you must bring the item into the store for an appraisal. You will first need to prove that you are old enough to take out a pawn shop loan which requires you to show a government-issued photo ID card.
Most pawn shops accept a broad range of items including popular items such as jewelry, watches, designer goods, electronics and silverware, but there are some rules and regulations on what they can accept. If they deem your item acceptable and of significant value for a loan then they will give it a full appraisal to determine its value. Based on this valuation they will offer you a loan against the item and will hold the item as collateral until the loan is repaid in full.
The loan offered will be for between 25%-60% of its appraisal value and they will also add interest on top of this. The loan period can be for any length up to 120 days, but it can be paid off at any time during the term at no extra charge. Once the loan plus the interest is paid, the item used as collateral is returned.
During the loan term, the pawn shop retains ownership of the item and should ensure no damage comes to the item and can not sell it unless you breach the terms. If the loan isn’t repaid, the pawn shop can sell the item to recoup its costs. A 30-day grace period may apply for a missed payment during the loan term depending on the state laws.
Finding a New York pawn shop
If you need a pawn shop in the New York City area then GEM Pawnbrokers should be your first choice as we have a great reputation and a long history of serving this community for over 70 years. We are also one of the largest pawnbroking services in the New York area with 24 conveniently located stores.
We offer a fair loan process with items being stored securely in our private vaults, and we even offer loan extensions if required. Our loans are fast and efficient with some of the lowest collateral loan rates in the US. We also provide a fair and honest service and offer the highest value for items.
Come and visit us to see what our pawn shop loans can offer you.
]]>Know what you want and do the research
If you want to buy something in particular from a pawn shop, it is worth doing some homework first, so you know what you are looking for in the item and have an idea of its value. Have a look online at what the pawn shop has available and the prices that they are selling the items for.
This enables you to have the knowledge to hand to discuss the product and negotiate on price.
Be prepared to negotiate
Although pawn shops set their prices low to get a quick turnover of their stock, there can still be some room for negotiation on the price if you are prepared to make the effort.
You should examine the item carefully before you make an offer on it and if you notice any damage or imperfections you can use this as a reason for your lower offer. This is what pawn shops do all the time when they purchase items from people.
You should, as said above, know the value of the item so you can offer a realistic price for it and don’t be tempted to offer a lowball price. Taking cash is also useful as there will be no transaction fees for the pawn shop and cash is always needed to purchase new stock.
You should also know when to walk away from the negotiation if you are not getting what you want. So set yourself a limit of what you can afford based on the value of the item and don’t go over it.
Finding the best pawn shop
Choosing the right pawn shop to purchase from is also important as you want to deal with one that is reputable and can be trusted. One way of finding this out is by reading customer reviews to see their score rating and what people have said about customer service.
At GEM Pawnbrokers we have been operating for over 70 years in the New York City and have 24 conveniently located branches making us one of the largest pawnbrokers in the area. We have built our reputation on trust and have strong community ties that make us the pawn shop of choice.
Visit one of our branches to see what we have available or shop online in our store to get yourself a great deal.
]]>Why sell your game console to a pawn shop
Pawn shops are a safe place to sell game consoles to rather than trying to sell them privately as you don’t need to meet up with private individuals to make the exchange or post the game console with the risk of it getting damaged or lost. It also saves a lot of time and hassle handling enquiries and negotiating with people who offer unrealistic prices or waste your time.
At a pawn shop, we make the process simple and can provide you with the cash straight away. All you need to do is bring in the game console and any accessories you want to sell so we can assess its value and make you an offer.
We offer fair and competitive prices for items and are a pawnbroker that you can trust. GEM Pawnbrokers has been operating in the New York City area for over 70 years and has 24 branches across Manhattan, Brooklyn, Bronx, Queens, Westchester and Long Island. With so many conveniently located branches it is easy to visit one of them with your game console to get a valuation.
What game consoles do pawn shops buy?
We are interested in a variety of game consoles including Xbox consoles, PlayStation consoles, Nintendo Switch consoles and Nintendo Wii consoles. So, if you have a games console that you no longer use, why not sell it and make a bit of cash rather than let it collect dust or be hidden away in a drawer or box unused?
To sell your game console it needs to be in good working condition or it may not be acceptable or worth anything. So, if you haven’t used your games console for a while check that it is working before bringing it to us for a valuation and ensure that you have all cables and accessories.
How are game consoles valued?
Like most electronics, game consoles are valued based on their age, condition, desirability, and market value. You can increase the value by ensuring that you bring all the accessories you have with it as this can add value and make it more desirable.
So, why not dust off your old games console and head to one of our branches to see what it is worth?
]]>Affordable sterling silver
You can find affordable sterling silver at our New York pawn shops as we offer a wide range of jewelry and items for sale. We purchase quality sterling silver items that we can sell in our stores at competitive prices.
Our range is constantly changing as we are always buying and selling jewelry, so it is worth keeping an eye on our online shop to see what we have available as we get some great pieces. We get a combination of modern fashion pieces as well as older and antique pieces which are more unique.
How much is my sterling silver piece worth?
Sterling silver is a desirable but less expensive metal for making jewelry from but it is still worth a reasonable amount. The value of the piece will vary depending on the design, brand and quality of it. The best way to find out the value is to bring it to one of our stores to have it appraised. When we appraise the piece we will be looking at it and examining the weight of the piece to see if it matches expectations for silver.
You can help increase the saleability of your items by checking that it is intact and that any clasps or joints are working, as well as cleaning your piece so that it is looking its best for being valued.
Two tests can be done on silver to check authenticity, these are the lighter test and the bleach test. The lighter test is using a lighter to heat the metal to see how it reacts, if it blackens then it is silver. The bleach test works similarly in turning the silver black by using a small amount of bleach. The mark can be removed with a small amount of vinegar.
Why choose to buy from a pawn shop?
Pawn shops are a great place to buy from as they offer competitive prices compared to mainstream shops. The jewelry has been checked and verified as being genuine and you are buying from a reputable business and not from a person online if you were to purchase a piece second-hand from elsewhere.
Choosing GEM Pawnbrokers is a wise choice as we have been operating in the New York City area for over 70 years and are the largest pawnbrokers in the area with 24 conveniently located stores. We have extensive experience in handling a broad range of items and we offer a fair and honest service.
So why not visit one of our stores or our online shop to see what sterling silver pieces we have? Find your nearest store here.
]]>How do you determine the value of a pawn watch?
Many factors will impact the value of your watch and these are things that we will be looking at when we appraise your watch:
All these factors are used to both check that the watch is what we think it is and to determine its value. We will also conduct research if necessary to determine the market value of the watch. Based on what we find we will offer you a fair and competitive price for your watch that can be used for a loan. So, the best way to find out what your watch is worth is to visit us and let us appraise it for you.
How do I pawn my watch?
If you want to pawn your watch the process is fairly straightforward. You will need to bring it to one of our stores for it to be appraised by one of our trained appraisers who will carry out a full assessment of your watch to determine the value. Once they have done this they will provide you will a fair and competitive loan offer or a sale value in case you wish to sell it instead. You will be given the opportunity to review the offer and make your decision.
If you accept the loan offer, we will take your watch as collateral and store it securely in our safe throughout the loan term. The watch will be returned to you once the loan has been repaid including the interest. You can repay the loan early and get your watch back at any point. If you are struggling to repay the loan, you should speak to us to see if we can extend the loan term.
Find out what your pawn watch is worth by visiting one of our conveniently located 24 stores across the New York area.
]]>Why chose to buy an engagement ring from a pawn shop?
There are many good reasons why you might want to choose to buy an engagement ring from a pawn shop.
What to look for in an engagement ring
When you are looking to buy an engagement ring there are several important things to think about, especially if your partner is not choosing it with you. Firstly, set yourself a realistic budget and don’t over-stretch yourself.
Secondly, think about the sort of jewelry your partner likes. Do they have a colour preference or favourite type of metal? Do they favour certain stones or gems? What sort of shapes of rings do they like? Is there anything you should avoid? Do they have a family member or friend that could give you some tips?
Thirdly, what size ring do you need? You can re-size the ring, but it is best if the ring is a close fit. Do they have any rings that they wear that can be used to compare or can you secretly measure their finger whilst they sleep?
The best way to see what we offer is to take a look at what we have online or visit one of our 24 stores which are conveniently located across the New York City area.
]]>Which is best - pawn vs sell?
Choosing between pawning or selling your items is very much a personal choice and largely down to your circumstances. There are two crucial things that you need to ask yourself:
1) Can you afford to repay a loan to get the item back within the loan term?
2) Are you willing to part with your item and potentially not get it back again?
If you can’t afford to repay the loan then you are probably better off selling items rather than pawning them, so you should select items that you no longer want.
If you don’t want to part with your item for longer than the loan term and then you should pawn the item. However, you should only pawn items that you are sure you can repay the loan on or are comfortable that you may not get the item back if you can’t repay the loan.
Where should you pawn or sell in New York?
In New York, the name to trust when pawning or selling your items is GEM Pawnbrokers as we have been providing pawnbroking services in the New York area for over 70 years. We are the largest pawnbrokers in the area and have 24 conveniently located stores positioned across the New York area.
We have extensive experience in handling a wide range of items and we will buy your items or allow you to use them as collateral in a loan. We provide a fair and honest service and we will offer you the highest value for your item/s.
We provide a fast and efficient service and can offer loans up to $1,000,000 and we offer some of the lowest collateral loan rates in the US. Our pawn service is safe as we store all collateral items during the loan period in our private vaults. We also provide a fair loan process and if you are unable to repay your loan by the end of the loan term, you can ask for an extension so that you have the opportunity to get your collateral item back.
If you are interested in either pawning or selling an item, visit one of our conveniently located stores to see what your item is worth and get an offer to sell or take out a loan. One of our friendly and experienced team will guide you through the options and appraise your item before giving you a fair offer.
]]>If we had to select five types of items that pawn shops buy then we would suggest these five:
Gold – the value of gold remains high which makes it an attractive item to sell. Gold also remains a popular metal for jewelry that people want to purchase which means that the resale value for pieces is good.
Gold offers variety in terms of its colour and quality meaning that there is something to suit all tastes and budgets, whether you prefer yellow, white or rose gold. As a metal, it lends itself well to all styles of jewelry and pawn shops widely accept all forms of jewelry including rings, necklaces, chains, bracelets, earrings and brooches. This is why gold is always top of our list of things that we buy.
Diamonds – they say diamonds are a girl’s best friend, well that is because they are such a beautiful and elegant stone that is timeless compared to many other stones. Diamonds have retained their popularity with buyers (and us) so have also kept a good value. Your diamonds can be unset but in most cases, the diamonds we see are part of a piece of jewelry and the valuation will be based on the whole piece.
Watches – although fashions and technology have changed, a watch is still a desirable piece especially if you have a designer watch. With digital devices like phones and computers all around us, the need for a watch has changed and many wear them more as a fashion item or as a status symbol. This change has increased the desirability of some watches and impacted their value. This is why watches remain a good piece to buy for pawn shops.
Electronics – electronic goods have always been a staple item at pawn shops as technology moves on so fast that people always want to move on to the next thing. But there are always others that can’t afford the latest thing and are happy with older versions. Whether your electronics are TVs, consoles, games, laptops, tablets or cellphones, we are interested in them all as long as they are in a good working condition.
Designer handbags – For many, a designer handbag is a signal that they have made it which is why they are so desirable. Hence why a second-hand market for designer handbags so is so popular and you can get a good proportion of the original resale value back selling one if it is in a good condition.
So why not have a look around your home and see what items you have that you no longer need and bring them along to one of our stores to see how much money you can raise?
]]>How do I pawn an item?
Pawning items in New York couldn’t be easier, with 24 stores spread across the area you are never too far away from us. To pawn your items, you need to visit one of these stores to get your collateral item appraised and valued. One of our experienced team members will examine the item and make a competitive loan offer.
A loan offer will be made quickly and you can most likely walk out with the money straight away if you accept the offer. The speed and ease of getting a pawn shop loan are why many people choose this loan option.
How do pawn shop loans work?
Pawn shop loans work by using an item as collateral, the loan amount will be based on the value of this item. During the loan term, the collateral item will be stored securely. Once the loan has been repaid including the interest, you can collect the collateral item.
If you fail to repay the loan, the collateral item can be sold to recoup the loss. But before this happens you should speak to us to see if we can extend the loan term so you can get your item back.
Why choose GEM Pawnbrokers?
There are so many reasons why you should select GEM Pawnbrokers which include:
So why don’t you call into one of our stores and learn more about pawning your items and what the item/s might be worth? Find your nearest store here.
]]>What does a pawn shop look for?
When you bring your emeralds to us we will appraise your piece to assess its value and authenticity. Many emeralds on the market today have been man-made in a lab and not mined as proportionately more synthetic emeralds are sold by retailers. Synthetic emeralds are worth less than mined emeralds.
We will also look at the size and weight of the emerald and calculate its value. We have specialist assessors who are trained to work with gems and know what to look for.
How much is an emerald worth?
Emeralds are assessed using the 4Cs to determine their value like other gems. These are:
Cut – How the emerald has been cut is a big factor such as how smooth the surface is and how well it reflects the lights. More delicately cut emeralds will provide a better reflection.
Color – High on the list is the color as the fresher and purer the green is good but the darker the color also increases its value. The appraiser will look at the color hue, saturation and depth of color.
Clarity – Under this C the appraiser will be looking at two things, how clear the emerald is, and any damage. Damage can include scratches, abrasions or inclusions as these will impact the value.
Carat – this looks at the weight and size of the gem alongside the other Cs. For example, a larger emerald with poorer clarity will be worth less than a smaller emerald that is darker in color.
Preparing your emeralds for sale
If you are looking to sell your emeralds it is good practice to clean them beforehand, but you should take care when doing so by using the correct methods. It is advisable to clean emeralds using a clean, soft cloth and don’t use an ultrasound cleaner or cleaning fluids.
Are pawn shops the best place to sell emeralds?
Pawn shops can be one of the best places to sell your jewelry for several reasons. Firstly, because pawn shops like ours offer some of the best rates for jewelry, so you will get a competitive offer. Secondly, it is much safer, quicker and more convenient to sell to a pawn shop than to try and sell jewelry privately. If you are in doubt, you could always get an appraisal elsewhere so that you have a comparison.
If you want to find out what your emeralds are worth call into one of our 24 conveniently located stores throughout the New York City area to get your free appraisal and offer.
]]>Pawn shop loans are one of the options that are available and like with many loans they have their pros and cons, but their advantages are often not well known. So what are the advantages?
Collateral based solution
Pawn shop loans are a great temporary loan using a high-value item as collateral. You use your item to fund the loan and during the loan term, the item is held securely by the pawn shop until the loan is repaid. As long as you repay the loan in full you can get the item back, so you will only be without it for a short period of time. No other guarantees or collateral are required.
You can use a broad range of collateral items including jewelry, electronic devices, musical instruments, designer goods and even vehicles.
Access cash quickly
You can access cash straight away without having to wait for your application to be processed and approved like many other loans. Once your collateral item has been appraised and you have received an offer, you can get the cash instantly on accepting the offer and handing over the collateral item.
No checks
Unlike many other loans, pawn shop loans don’t require any credit checks and therefore it doesn’t matter if you have bad credit or not, as it won’t affect your loan. In many cases, those with poor credit ratings find that a pawn shop loan is better for them and much easier.
Loans and their value are purely based on the item that you used for collateral and no other questions will be asked such as about your income.
Won’t impact your credit rating
As mentioned above pawn shops do not undertake credit checks, so it won’t impact your credit rating. If you fail to repay your loan to a pawn shop, you won’t get referred to collection agents or have it on your credit report, instead, they will take ownership of your collateral item which they may sell to recover the unpaid money.
Cheapest option
If you have poor credit or want a quick loan with no credit checks then a pawn shop loan can be the cheapest option available compared to loans for similar circumstances, such as payday loans or title loans. Using an item as collateral lessens the risk so the fees and interest can be lower as the risk is lower, plus there are no hidden charges.
Flexible loan options
Pawn shop loans offer a good solution for short-term loans and they allow you to repay the loan early with no additional charges. You may also be able to extend the loan period if you are struggling to repay before the end of the term.
You can also take out multiple loans using different items as collateral as long as you are keeping up with your repayments on the other items. Many other lenders wouldn’t necessarily offer a second loan option.
But like with all loans you should consider your options carefully and choose the solution that works best for you and your circumstances, and be realistic about what you can afford to borrow and repay.
]]>Collateral lending – is it for me?
Collateral lending is a popular form of lending provided by pawn shops as it is a quick and easy form of lending that requires minimal paperwork and for those taking out the loan it doesn’t require any credit checks.
Collateral lending uses a personal item as the basis for the loan and the lender stores the item safely until the loan is repaid. If the loan is not completely repaid the lender can take ownership of the item used as collateral.
Traditional collateral-based loans are often associated with mortgages or loans secured against a home which many financial institutions offer. Pawn shops offer an alternative using a variety of small assets as collateral.
What items are acceptable for collateral lending?
Pawn shop collateral lending has a broad range of acceptable items as they deal in such a variety of goods in their business and have the experience to handle so many goods. You can use jewelry including watches, rings, earrings, bracelets, necklaces, chains, charms, anklets and brooches.
You can also use electronic goods such as cell phones, tablets, laptops, computers, consoles, TVs and other devices that are in good working condition.
Other acceptable items can include clothing and accessories such as designer goods and branded items like handbags, eyewear, hats, belts, shoes and trainers.
How much does collateral lending offer?
GEM Pawnbrokers as a collateral lender offer loans up to $1 million but the amount you can borrow is dependent on the collateral provided for the loan. You can find out how much you can borrow by visiting one of our stores with your collateral item so that we can appraise it. We will give you a fair and competitive loan offer for your item.
Collateral lending is based on terms of a minimum of 60 days which will be agreed when you take out the loan. The loan however can be repaid in full early without any additional charges and you can get your collateral item back sooner.
Who to choose as your collateral lender?
GEM Pawnbrokers is a trusted and long-established pawnbroker in the New York City area as they have been trading for over 75 years. We provide some of the best collateral lending rates in the United States and have 24 conveniently located stores throughout the New York City area.
We are still going strong after 75 years because we provide a high-quality service that people trust and come back to. So you can also trust us to provide you with excellent service and to care for your item throughout the loan term. Visit one of our stores to find out what you can borrow through collateral lending.
]]>Why choose to pawn valuable assets?
Pawning your items is an easy and quick way to raise funds as it doesn’t require you to have any checks or guarantees so there is minimal paperwork and time needed. You can walk out with a loan the same day.
You can use a wide range of items as collateral for a pawn shop loan which makes it a flexible and widely available loan as most people will have something suitable for collateral. The loans don’t restrict who is eligible as there aren’t any criteria, unlike many loans as no credit checks or guarantees are needed. Therefore, pawn shop loans are available to anyone.
With pawn shop loans you get the collateral item back at the end of the term or earlier if you have paid the loan in full.
What valuable assets can you pawn?
You can pawn a wide range of items at our pawn shops as we accept a variety of jewelry, electronics, clothing and accessories. We advise that you select an item that will raise the funds that you need and that you won’t miss whilst we hold it as collateral.
Pawn jewelry is a popular option as we all have something that we don’t wear often that we are willing to part with. You are best selecting jewelry that is made from high-quality materials such as gold or contains precious stones like diamonds, sapphires or rubies.
Pawn silver or designer jewelry can also be valuable assets as these can hold a good value too depending on the brand and the design.
Electronic goods and designer items such as handbags, watches and shoes can also be attractive pawn items.
The important thing to note is that whatever you choose to pawn you should ensure that it is in a good condition and a properly functioning order. We will assess the quality and authenticity if it is jewelry or designer goods to offer you a fair and competitive price.
Why choose GEM Pawnbrokers?
GEM Pawnbrokers have been helping people in the New York City area since 1947 and are the largest pawnbrokers in the area. We have 24 conveniently located branches throughout the New York City area. We are the name you can trust, and we provide fair and competitive loans, purchase prices and sale prices for second-hand goods.
Come along to one of our 24 branches where you’ll receive a warm welcome or request a quote online if you can’t visit us in a branch and see what your valuable assets could raise for you.
]]>Often people think about pawn shops for loans and getting money when they need it by selling items they no longer need or want, but we also offer great value second-hand goods like a wide selection of jewelry.
Why choose pawn necklaces?
Pawn shops offer a unique range of goods for sale at competitive prices and as they are second-hand they cost less than buying them new. But you can rest assured that all the goods we sell are genuine and are in a good condition.
We offer a variety of pawn necklaces for sale in a range of styles, colors and featuring different stones or gems. Our range is also always changing so it is worth keeping an eye on our online shop or visiting our stores regularly to get yourself something really special.
Are pawn necklaces good value?
Pawn necklaces are definitely good value in our stores as they are priced competitively, and are in a good condition. All jewelry is checked before we purchase it to ensure that all parts of it are intact and in working order such as clasps and stones are securely set. We also check and verify all metals such as gold and their carat quality as well as any stones to see that they are genuine and their clarity. From this information, we can set a fair and accurate price for the piece.
Trade in goods to buy gifts
You could also consider selling or pawning goods such as jewelry, electricals, handbags, designer clothing or accessories that you no longer want to buy your gift. If you want to sell your item you just need to bring it into one of our stores to be appraised and we will make you an offer. If you’d like to pawn the item and get a loan, we will appraise it in the same way but offer you a loan for it. Once the loan is repaid you will get the item back.
Why choose GEM Pawnbrokers?
GEM Pawnbrokers have been trading since 1947 and are the name you can trust in New York. We have 24 conveniently located stores across New York City. Our stores offer a warm welcome and a wide range of products for sale as well as an online shop for convenience. Visit us in store or online to see what you could buy.
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With inflation reaching some of the highest levels for 40 years and prices of necessities rising so much it is making it difficult for many families and individuals to pay their bills. And in times of need, GEM Pawnbrokers are here to help its communities get through the hard times.
For example, the Bureau of Labor Statistics says that food has risen by 91.4% and gas has increased by almost 20%! Moody Analytics estimates that consumers are spending an additional $445 each month making it incredibly hard for many to make their wages stretch to cover their outgoings.
So where do you go when you need cash
Pawn shops are traditionally a great place to sell your unwanted item or a place to go to raise cash when you need it from everyday items. And modern pawn shops aren’t just about jewelry and electronic goods anymore, there’s a huge range of items that you can use to raise funds including designer label goods, clothing, handbags, shoes, sneakers, belts and accessories.
And whether you want to sell or pawn your items, we will offer you a fair and competitive rate for the item and the loan.
Why choose a pawn shop loan?
Pawn shops are often not the first place that people think of when they need a loan, but what we have been finding is that when times get hard, a pawn shop loan can often be a popular choice.
There a several reasons why a pawn shop works for many people. Firstly, their loans are open to anyone, you don’t need a good credit rating (your rating won’t even be checked) and your rating won’t be impacted by the loan. The loan is quick and simple with many people walking out with the loan when they visit.
Almost everyone has something of value that they can use as collateral for a pawn shop loan that they won't miss or are happy to part with for a short time until they repay the loan, and it doesn’t need any other guarantees such as your home.
Come and see us
GEM Pawnbrokers have been helping people for over 70 years and are one of the largest pawnbrokers in New York, so you can be confident that we are the name you can trust. Each of our stores are supportive of the local community and will welcome you into the store.
We are here for you so call into one of our stores and see what cash you could raise today! We have 25 conveniently located stores across the New York City area including pawn shop Manhattan, pawn shop Queens, pawn shop Long Island, pawn shop Bronx and pawn shop Brooklyn.
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