Do Pawnshops Buy Broken Jewelry?
June 11, 2019 | 4 Min Read
Have you ever had something break on you? A TV, a tablet, or maybe even a car? Things break. It’s a fact of life. Most of the time when things break they completely lose all value. We live in a time when your TV breaks that it’s perfectly normal to just throw it in the trash. But what if I told you there is an item out there that no matter what you do to it, it will never lose its value. That item is gold & silver jewelry.
Do Pawnshops Buy Broken Jewelry?
Yes. Absolutely. Positively. YES.
A piece of broken jewelry is just as valuable broken as it is intact. You see, unlike any other product, the value of gold & silver jewelry is determined by the precious metals market - much like the stock market. If the market goes up, the value of your jewelry goes up. If the market goes down, well you know where I’m headed with this.
This means that it doesn’t matter what you do to your jewelry, you CAN still sell it to the pawnshop. But that leads us to another question:
Will i get less money for jewelry if it’s broken?
The answer is no… and yes. I’ll explain.
In most cases the answer will be no. Jewelry such as bracelets, necklaces, pendants, charms and rings without diamonds are worth the exact same whether they are broken or not.
The value of these pieces of jewelry is mostly determined by the precious metals market. This means that it doesn’t matter what happens to your jewelry, a pawnshop will always give you the same price for it.
Diamond jewelry, however, is a little different. Diamond rings, necklaces, bracelets and earrings are valued by the precious metals market, but they also have a higher resell value because of the diamonds they contain.
What this means for you is that if you have a diamond bracelet that is not broken, you might get a little bit more cash from a pawnshop because the shop can resell it in their jewelry case. A broken diamond bracelet, although it can still be sold to a pawnshop, might get a little less cash because the pawnbroker will have to scrap the gold and sell the diamonds wholesale. (Scrapping the gold and wholesaling the diamonds will always return less money for the pawnbroker than selling it in the jewelry case)
is there any reason a pawnshop would turn down my broken jewelry?
No. It doesn’t matter what condition your jewelry is in, it will still be valuable. We’ve purchased broken jewelry, burned jewelry, old jewelry, new jewelry, monogrammed jewelry. You name it, we’ve bought it.
It doesn’t matter what your jewelry has gone through, it STILL HAS VALUE and we will still buy it!
how will the pawnshop appraise my broken jewelry?
The process is very simple. First, the pawnbroker will determine whether your jewelry is gold or silver and also what purity it is. (Think 10K, 14K or 18K) Then he/she will weigh the jewelry, assess and measure any diamonds, and quote you a price. It’s that easy!
At that point you can either decide to pawn or sell your jewelry, or you can decide to not take the offer. The choice is all yours!
wrap-up
Most people think that when something is broken, it’s done. Time to throw it away. While that is that case with most items, it’s the opposite with gold and silver jewelry! Gold & silver jewelry can be sold in any condition! Most of the time you can expect to get about the same price for broken jewelry as you do for jewelry in good condition. So what are you waiting for? NOW is the time to sell your broken jewelry!
Come see us today! We’ll be glad to help!
HAVE SOME broken jewelry YOU WANT TO PAWN OR SELL?
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