Sometimes unexpected costs can arise that need to be paid despite the fact that you don't have the financial resources to do so. In these situations, taking advantage of a jewelry loan can be beneficial. Married couples often have access to an engagement ring with significant value.
You can parlay your engagement ring into emergency cash by placing the ring as collateral for a loan. Here are three tips that you can use to successfully pawn your engagement ring in the future.
1. Bring documentation.
In order to ensure that you are able to get the most money possible for your engagement ring, it can be helpful to provide the loan agent with documentation when you take your ring to a pawn shop.
Although pawnbrokers have a bit of knowledge when it comes to fine jewelry, a jeweler will always be able to provide expert advice when it comes to the quality and value of your ring.
If you have had a jeweler appraise your ring in the past, bring in the certified appraisal to help prove your ring is valuable enough to serve as collateral for your emergency loan.
2. Clean your ring.
If you want to maximize the amount of money you will be offered when you take out a jewelry loan on your engagement ring, you need to ensure that the ring is as presentable as possible.
Taking the time to thoroughly clean your ring before you bring it in to a pawn shop will help the loan agent accurately evaluate the value of the ring. Be sure that the setting and any precious stones within the setting are free from dirt and debris and that the metal used to create the ring setting shines.
3. Make sure your ring is in good repair.
The last thing you want to do is have one of the stones come loose from your ring's setting and get lost after you pawn it. An engagement ring that has fallen into disrepair may not be as valuable as a well kept ring, so making minor repairs before you try to pawn your engagement ring can be financially beneficial.
Have a jeweler evaluate your ring's setting to determine if any of the prongs holding precious stones in place need to be repaired. Have delicate filigree soldered when needed to prevent breakage. Investing in minor repairs will help you gain access to more money when pawning your ring in the future.
Being able to successfully pawn your engagement ring will help you gain access to a jewelry loan that will provide you with the funds needed to cover emergency costs that may arise in the future. Contact a company like C & L Gold & Diamond Brokers to get more information.Share
13 October 2017
After wearing the same jewelry pieces day after day for years, I realized that a few of my favorite items had developed a significant level of grime. I didn't want to look sloppy, so I started to look into ways to tidy them up. I talked to a friend of mine who knows how to clean everything, and she had some really amazing ideas for cleaning tiny chains and little prongs. This blog is all about the art of cleaning fine jewelry, and even tidying up older costume jewelry pieces. You never know, you might be able to make those older baubles sparkle.