When you’re selling a ring, it’s important to know how much it’s worth. Various pawn shops have different methods of pricing items, and your best bet is to do your research before you go to a shop. You can check similar rings on eBay to determine their value, and use that information to determine the best price to ask for.
Remember that pawn shops pay only a fraction of the retail price, so you should not expect full retail value. Instead, you should expect to receive anywhere from 30 to 50 percent of the price of the item. Also, be prepared to walk away if the pawn shop doesn’t offer a reasonable amount.
A pawn shop will not give you your full value, especially if you have a ring with a high diamond value. However, the pawnbroker will still make a profit off of your ring. You should be aware that while a pawn shop may offer a lower price than you would be willing to pay, it is important to remember that it will be difficult to get your ring back.
A ring that has a high resale value can be worth as much as $550 in a pawnshop. However, the actual resale value of a diamond ring is much higher. It will be worth anywhere from three to five thousand dollars, depending on its quality.
Diamond rings are a valuable possession for many people. You may want to pawn your diamond ring to replace a better one or get cash for an inheritance. However, you should not sell your diamond ring to a pawn shop because the pawn shop does not pay you the original purchase price.