Pawnshop Question

[clearfading]

How do you know what to offer? I'm guessing the carat weights are guesses or estimates and the item is not certed so how do you pawnshop deal experts know what to offer for something?

 

[ringo865]

I start by offering them 30% off of their asking price and work up from there.

 

[clearfading]

So they had it for like $6300 (sticker price always a joke) and he told me I could have it for $4500 so would you offer 30% less than the $4500?

 

[ringo865]

4410 would be 30% off the sticker. Being as he was so swift to offer you a lower price, you could try less than 4500, but not 30% off that. Try 4200, see what he says. Then try to get them to include tax in the best price.

What are you interested in? Pics? That’s a lot of $. Do you have an ASET scope?

 

[clearfading]

It is a lot of money that's why I think even the $4500 is too high. I do have an aset scope and would bring it next time I go there if I get serious about the ring. He estimates the center to be 1.25ct round (high color, I can see the arrows) with side cut princess stones and some melee on the band, platinum. I didn't take photos as I was just perusing but can consider doing so next time. Thanks for your insight!

 

[ringo865]

“Generally” pawn shops will sell for around 50% (preferably more) off retail. However, they also “generally” pay about one-fourth of retail to the pawner/seller. They have room to move and usually will somewhat, depending on their pricing, how long it’s been there, etc.

One time I went on monthly to “pet” a ring that I wanted for like ten months and they wouldn’t come down far enough. i shrug my shoulders and walk away saying, “okay, pay another month’s rent and I’ll check back.” It was exhausting.

But, I did get it for the price I wanted to pay TAX INCLUDED when (after ten months) I said I had (just) that much cash on me.

So, that ring doesn’t fit me anymore. I could size or reset it. But I have gotten others since then (addict).

 

[Bron357]

If you want to buy from a pawnshop or auction you should invest in a few tools. A decent loupe and some digital calipers.
then spend some time looking at diamonds that are graded for colour and clarity so you can appreciate what a H looks like compared to a M. Finally understand current diamond pricing for the diamond you are considering.
$4,500 sounds like an excellent price but you need to be more certain of the carat weight, colour and clarity.
It could be a clarity enhanced diamond - you do NOT want to buy one of those. Clarity enhanced diamonds have been lasered to remove obvious inclusions, carbon normally because its black, and the holes then “filled”. This can make the diamond unstable.
This is why you have to be wary. There are great buys to be had but you have to know your stuff and have done research.
this is how clarity enhanced diamonds look under magnification and bright led light. The ”glass filling” reflects light differently.

 

[kenny]

I think how much to offer depends on how overpriced it is.
I'd guess some pawnshops price things more fairly than others.

So, it falls on us to get the best education we can about diamonds, and the market.

IOW, I agree with Bron.

 

[clearfading]

@Bron357 Totally understand. One of the rings I looked at had a huge crack in the diamond. Cannot believe it. Definitely able to be hidden to an untrained eye.

 

[Bron357]

And no pawnshop ever sold a top quality diamond for pennies!

 

[AV_]

I could never tell colour without a reference.

Bargaining rules are local, so not sure if they would overbid a jokey low or call the firefighters...

 

[PreRaphaelite]

Famous words of advice, especially true when pawn shopping:

”When in doubt, don’t.”