Need a decent pawn shop

[Kase]

My girlfriend has some jewelry that she is looking to sell, and every jewelry shop she's been to has offered her just plain rediculous prices. It's really starting to get old, so I gave her the idea of maybe trying a pawn shop.

So does anyone knopw of any that will give a DECENT price for jewelry? When I say decent, I mean it in all honesty. These jewelry shops are wanting to give about 1/10 of what this stuff cost. And its practicaly brand new.

I'm looking for one preferebly on the west side of indy, and just hoping one of you guys might be able to lead me to one so I don't have to go to all of them.


Oh.....and I'd also like the place to sell guns too.....for my viewing pleasure.

 

[Mike Elzinga]

I dont know of any, but it is important to qualify what "decent" is. I dont know your specifics, but keep in mind you are selling at wholesale, not retail.

Nearly all retailers will make a minimum of 30% on a product, so if you have a ring worth $1000, they would pay $700 or less for it new, considering that this is used, he has to price it as used items should be, and priced to move quickly. I would guess that he would want to sell this same $1000 (new retail) for about $600, and make a better margin than on new, as is standard for all retail, so he would likely offer you about $300.

All this varies on his margins, as well as the speed of which he can sell it. Some people would feel ripped off by this, but it is just how retail sales work. 50% is not a huge margin to make, and if there is no benefit for him to do it, he would be better off buying new from his suppliers to further that relationship.

Pawn shops will have a higher margin and will need to price it lower than a legit jewelery store to be competitive in consumer perspective. You are welcome to try them, and you may even get what you hope for, but to get more than 25% of original retail price would be uncommon for sure.

Best of luck, I been where you are and it sucks.

 

[Brandon]

markup on jewelry new is crazy high. good luck getting anything close to what you paid for it.

but for a decent pawn shop, I like Max It Pawn up near 56th and Keystone (more like 52nd and keystone) Next to Kahn's Wine and Spirits. If it is gold, may try Brad of Brad's Knives here on the forums...

 

[Mike Elzinga]

Yea, if it is gold or old diamonds, you may have better luck selling the raw materials than you do selling the finished product, just a thought.

 

[Bradsknives]

 

[Bunnykid68]

I think maybe he should talk to you.

 

[Bradsknives]

I think maybe he should talk to you.

Agreed, I can just about guarantee that I pay better than any walk in business that you can take it to.

OP: Feel free in PMing me and I'll see what I can do for you.

 

[Boomstick]

Gold is over $1700 an ounce right now, you may be better off like mentioned trying for melt price.

 

[Kase]

Sent you a PM Brad.

If I sell the gold and diamonds seperate, will jewelry stores/pawn shops want to buy the diamonds only?

And just for reference, these rings cost $2k new, and the jewelry store I went to said the most they could pay was $150! I just can't sleep at night knowing I sold something for 92% off!

 

[Indy_Guy_77]

Sent you a PM Brad.

If I sell the gold and diamonds seperate, will jewelry stores/pawn shops want to buy the diamonds only?

And just for reference, these rings cost $2k new, and the jewelry store I went to said the most they could pay was $150! I just can't sleep at night knowing I sold something for 92% off!

You're not likely to get any money on a "used" diamond...pawn shop, jewelry store, coin shop, etc etc.

You can do slightly better via Ebay; especially if you have certs for the stones (GIA, for example)

-J-

 

[Lancem]

I think the only thing anyone is going to give you for it is the metal price, the stones good luck getting much of anything for them. Jewelry is a bad investment, as you have found. Ebay/craigslist may be your best bet for selling it as "jewelry".

 

[jason765]

as a rule of thumb pawnshops will only pay about 10% of retail, so it sounds like your jewelry store is about par for the course

 

[Brown]

Like many other people you got hooked by the marketing of the jewelry. most any pawn shop or gold/silver buyer is going to pay melt price on the metals. I have been doing this for a while buying jewelry and selling it and most places just throw out the stones. I have a zip lock bag full of 'em. See what it is worth as gold or silver melt value. Best place I have found for selling at melt is Hendricks CO Estate buyers in Brownsburg. Hopefully Brad can give you a good $$

 

[Dirtebiker]

I dont know of any, but it is important to qualify what "decent" is. I dont know your specifics, but keep in mind you are selling at wholesale, not retail.

Nearly all retailers will make a minimum of 30% on a product, so if you have a ring worth $1000, they would pay $700 or less for it new, considering that this is used, he has to price it as used items should be, and priced to move quickly. I would guess that he would want to sell this same $1000 (new retail) for about $600, and make a better margin than on new, as is standard for all retail, so he would likely offer you about $300.

All this varies on his margins, as well as the speed of which he can sell it. Some people would feel ripped off by this, but it is just how retail sales work. 50% is not a huge margin to make, and if there is no benefit for him to do it, he would be better off buying new from his suppliers to further that relationship.

Pawn shops will have a higher margin and will need to price it lower than a legit jewelery store to be competitive in consumer perspective. You are welcome to try them, and you may even get what you hope for, but to get more than 25% of original retail price would be uncommon for sure.

Best of luck, I been where you are and it sucks.

I agree with about everything mike says here!
Pawn shops are NO place to sell ANYTHING!
If your wanting to sell, I'd say Craigslist or sell to people you know. That's going to be your best prices.

Have you tried the classifieds here on INGO?

 

[Dirtebiker]

By the way, what is this jewelry? Wedding set?

 

[Dirtebiker]

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