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Tips For Buying The Perfect Diamond Engagement Ring From A Pawn Shop

Pawn shops are an excellent place to buy jewelry, particularly for those who are thinking of popping the question or have recently become engaged and wish to diamond hunt as a couple. But before you go shopping for that diamond ring, you need to be prepared so that you get the best deal and know exactly what to look for. Here's why pawn shops are great resources as well as four simple tips for finding the perfect diamond engagement ring.

Why buying a diamond from a pawn shop is a great idea.

Whatever your reason for considering a pawn shop, you're probably aware that one advantage is getting way more bang for your buck. But did you also know that most pawnbrokers will sell you a diamond ring for about half the price of what you would spend at a retail store? This means you've got a great opportunity to think long term and invest in a bigger diamond than if you were buying from a retail jeweler. Just be sure to click here for more info and follow these guidelines.

Know what you're looking for ahead of time.

Because pawn shops acquire their inventory from customers as opposed to ordering from a jewelry dealer, you'll be looking at a selection of rings that is unique to that store. But this doesn't mean that your options are as limited as you think.

You see, when someone comes in to pawn their jewelry, they are actually getting a secured loan. The pawnbroker must hold on to the item for a set length of time, usually 30-60 days. After that time period is up, if the original owner does not repay the loan, the jewelry goes to the shop and becomes available for sale. This happens about 20% of the time, which means that ring could be yours for the taking.

If you know the style of diamond ring you're looking for, let the pawnbroker know. It just might be something they'll have available soon.

Don't dismiss that ring due to the setting.

Suppose you find a diamond you love. It appears colorless, is has very few inclusions, and it's twice the size of anything you would have ever dreamed of. There's just one problem.

You hate the setting.

Maybe it's too vintage or too plain, but don't put it back in the case. Remember, you're getting a hefty discount. The money you save can be used to put that diamond in a new band with a modern setting that will win your heart.

Avoid the December rush.

December is one of the most popular times of the year to get engaged. So if you are thinking of shopping for that diamond, you may want to start a little early. That way, you and your fiancée will have a greater chance at a broader selection. Otherwise, consider waiting for the new year when customers have had the chance to sell their unwanted gems.

Inquire about a certificate of authenticity.

Retail jewelers will usually offer some type of grading report when selling a diamond ring, often for an additional charge. While this isn't something that automatically comes with jewelry at a pawn shop, you can still get paperwork with your purchase, you just have to ask if it's available.

When someone makes the decision to sell their diamond ring to a pawn shop, they often feel compelled to bring in an appraisal or a certificate of authenticity. While this can ensure the pawnbroker they are buying authentic jewelry, it ultimately ends up benefiting you, the buyer. Another option is to ask the pawnbroker if they can appraise the item themselves, as many times they are happy to do this.

When a diamond ring comes with paperwork guaranteeing its value and authenticity, it immediately becomes more valuable to you. This can save you the trouble of having the ring appraised on your own dime, and you can insure it that much faster.