You can virtually find gold jewellery in almost all pawnshops. This is because gold has held its value for a long time. Even when financial markets tumble, gold remains a commodity that is always in demand. Most pawnbrokers Brisbane love gold jewellery because it is easier to sell. There are few things that are as pawnable as gold or lucrative.
Pawnbrokers have more options to make money with gold than they do with other items. For instance, when a customer fails to repay a loan, the pawn broker can either sell the gold jewellery in the shop, online or to a recycler to be melted down and refined to make other gold products. If your jewellery is in in good condition, you may get a better price by selling to a pawnbroker who deals mostly with jewellery. There are pawnbrokers Brisbane who deal exclusively with gold. When evaluating other goods, gold jewellery almost always has a higher value especially if it has precious stones like diamonds.
The value of gold jewellery varies from broker to broker. So, if you have jewellery to pawn, shop around, you may be surprised of how different the quotes are.
When you have gold to pawn for a loan or to sell outright, there are a couple of things you may need to know and a few documents that will help get you the best price. Of course, your gold jewellery will have to be appraised. Before settling on a particular pawnshop, you might want to take your jewellery to other gold dealers as well as jewellers in your area, just to get an idea of whether you will be able to get the amount of money you need. Bring documentation of whatever independent appraisal you have made so that the pawnbroker knows what they are dealing with and also to let them know you know what the resale value of your gold should be.
Remember that you cannot expect to sell something for the same price you bought it for. In the same way, you shouldn’t expect to be paid the full valuation price. Appraisals can act as a guide for the pawnbroker.
According to research, more than 95% of pawn shops accept gold jewellery. 99% consider it a desirable item, more than 70% of households have gold in their homes and 70% of customers who have gold will pawn gold rather than sell. 90% of the people who use their gold to get a cash loan come back to redeem it.
- Gold will get you more cash than other pawnable items like electronics.
- You get a loan approved without having to go through the arduous processes that financial institutions will take you through.
- There are no credit checks and payment is immediate.
Drawbacks of pawning gold jewellery
You will lose the item if you don’t pay the loan back. This is why you should think carefully especially when it comes with irreplaceable items with sentimental value.
The bottom line is that you won’t find anyone more eager to buy your gold jewellery when you need cash immediately than a pawnbroker. You have the option of pawning an returning for your gold jewellery if you are not ready to really part with. Find a reputable pawnbroker in your area and have cash in hand in a matter in minutes.