How can I pawn my jewelry with guarantees

If we need money, an alternative to obtain it is to pawn our jewels, no need to sell them. For this, we can go to a house that offers this service, which is usually a buy-sell, second-hand or a Monte de Piedad. Before deciding on one or the other option, we must know a few details.

Calculate approximate value

The jewels are made of different materials, being the most valued gold and platinum. So before pawning them, you must calculate the real sale value based on the mineral you have, so that you are not deceived when giving you the loan. If the item has any diamond or precious stone, you will have to find out the value of them and take into account if the jewel is from a well-known brand, the price is established by means of pre-established scales.

In the same way, look at the design of the piece. If it’s very old and out of date, they probably won’t even consider it. And it is important that it does not present any burn or damage, because this also causes it to devalue. You have to start from the idea that They only accept a minimum amount at the time of pawning. For this reason, it is important that before taking this step you advise yourself well on this possibility and what economic benefit it will truly bring you.

Jewelry appraisal instruments

Pawn shops or Montes de Piedad

Before choosing a pawn shop, it is you better compare. You have to look at the conditions of the contract, the interest they are going to charge you, the return period for it and, of course, the value they have given to your jewel.

The other possibility is the Montes de Piedad of the Savings Banks. In these organisms there are usually more guarantees, as explained by the Organization of Consumers and Users (OCU @consumers). The jewelery appraisals are carried out by specialized gemologists and, depending on their value, the loan is established, which is usually a percentage with respect to this valuation.

The money is given in cash and the jewel remains as collateral for the loan. The payback period is generally one year and it can be extended. The interests are limited, since they do not exceed 9% per year. If you finally cannot repay the loan, this agency pays you the difference in price when they sell the jewel.