Finance

How Pawnbrokers value jewellery

Gold jewellery is one of those things that Pawnbrokers love. Whenever drone brings an item of jewellery to a pawnshop, they often have a certain figure in mind. They may get what they have in mind or not. It depends on how the Pawnbrokers arrive at a dollar figure to offer someone who brings their gold jewellery in.  

How do Pawnbrokers come up with the value they assign to an item? There are various factors that Pawnbrokers consider when the value a piece of jewellery. 

 Composition

The first thing most Pawnbrokers Geelong will look at is the composition of the jewellery, IE what karat is it. This means he or she will look at the type of metal the jewelry is made of. Since most jewellery that is pawned is made of gold, a Pawnbroker will consider the purity of the gold. 

To come up with a value most Pawnbrokers Geelong have to consider the price of gold at that specific time. This price known as the “spot price” is the same everywhere. It is often quoted in dollar per ounce. Which means the weight of the gold will also play a part in calculating the value you will get from a pawnbroker.

There are different sub-types of gold available. 

There is the common yellow gold, and then there is white gold and rose gold. These sub-types can influence the price of your jewellery item. The Pawnbroker offer will also depend on which sub-type is more popular or sells better.  

Yellow gold is considered to be purer but that isn’t necessarily true. The higher the karat the higher the purity of gold. It is possible to have identical rings 5hat differ only in color. One could be yellow and have a 14karat purity and another can be rose gold which gets its color from the copper used as an alloy. The Rose gold might have a higher purity like 18k. The purity of the gold is the first important factor that is considered so, the rose gold will be priced higher because of that, but if yellow gold is in fashion or high demand than rose gold, that may affect the price difference. 

Gems and precious stones

Jewellery often has precious stones like diamonds or gems like emeralds included. Diamonds are popular but Pawnbrokers usually don’t value these unless they are big and flawless and unique in some way. In the interest of fair trade some Pawnshops may offer you a little bit more for your precious stones. 

Other precious stones you may find on jewellery include sapphires, emeralds and rubies. Some Pawnshops take jewellery that has semi-precious stones like amber, jade, amethyst, blue topaz, turquoise or pearl.

When considering the value of the stones factors that come into play include weight, colour and rarity. A single stone is worth more than several stones embedded on one piece of jewellery. If your Pawnbroker Geelong isn’t interested in the stone but the gold, you can ask if he could remove the stone and give it back to you. You can try and sell the stone to a jeweler or keep it and use it later for a custom made piece of jewellery. 

Jewellery brand name

Like most things that are fashionable, jewellery comes in different brand names. Some brands are more exclusive and more expensive than others. Brand names like Tiffany, Van Cleef and Arpels, Hermès, Bulgari, are valued higher than generic brand names. 

There are different Pawnbrokers who use different factors to determine the value of the jewellery that accept. Speak to different Pawnbrokers and find out what they value most.

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