Pawn, Buy, & Sell Jewelry in New York City
Here at Paradise Pawnbrokers in the Bronx we pawn a variety of jewelry items every single day. We buy & sell gold, silver, platinum, & diamond jewelry including rings, necklaces, bracelets, earrings, and more. Our team weighs and tests jewelry to ensure you get the best value for your jewelry.
How Do You Pawn Jewelry in NYC?
The first step in pawning any item is understanding exactly how much money you need. Generally speaking, pawnbrokers will loan you money based on the weight, metal type, condition, and precious stones used in your jewelry. If you are unaware how much your jewelry is worth you can get it appraised or have a pawnbroker provide an estimate. Pawn shops generally prioritize getting pure metals like gold, silver, platinum and jewelry with diamonds.
There are many pawn shops throughout the area. It is important to choose a shop that has a good reputation and that will give you the best value. You want to make sure you get the best loan both in terms of how much money they pay you and what their interest rate will be. Many Connecticut residents that commute into NYC use NYC pawn shops because these shops are more likely to provide better loans, as New York’s pawn laws allow our brokers to offer better interest rates.
It is invaluable to understand the timeline you have for paying back your loan. You always want to make sure you can pay back the loan before the deadline. While good pawn brokers may be willing to work with you, once there is a contract in place, they are legally allowed to sell your jewelry after the contract period ends. It is recommended that you plan to have the money you need to fulfill your loan prior to the deadline.
In-House Jeweler For Repairs, Cleanings & Custom Work in The Bronx
We have an in-house jeweler who works with us each week to provide custom services, jewelry repair, and cleanings. If you have older pieces that need to be cleaned or are broken, our team can help. For more information on these services, pricing, and types of custom projects our team can help with, please contact our team.
Benefits Of Buying Jewelry From Pawnbrokers
The biggest benefit of buying jewelry from a local pawn shop is the competitive pricing. Let’s be straightforward, jewelry, especially jewelry that has high amounts of gold, silver, diamonds, etc. is very expensive. Working with a pawn shop means getting jewelry at highly competitive prices without sacrificing quality. Pawnbrokers know exactly what their jewelry is made out of and its value. You don’t have to overpay to get a great gift for a loved one or new jewelry for yourself. Second to pricing, another benefit of working with a pawn shop it is often more straightforward. Going to a jewelry store can be an overwhelming experience where you feel that the salespeople might be pushing you into an over-expensive item. A common misconception is that pawnbrokers are selling jewelry that is a lesser quality than the jeweler down the road. This couldn’t be further from the truth. A pawnbroker has access to the same types of pieces as a jeweler, and the benefit of a pawnbroker is they often have a more diverse selection of pieces and can help you find exactly what you are looking for.
Buy, Sell, & Pawn Jewelry with Paradise Pawn in the Bronx
If you are interested in buying, selling, pawning, or have other questions about jewelry. Please contact us at Paradise Pawn in the Bronx. We have two convenient locations:
Paradise Pawnbrokers @ Grand Concourse
Look for the big green sign!
Closed on Sunday & Most Major Holidays.
Paradise Pawnbrokers @ Jerome Avenue
Look for the big blue sign & banner!
Closed on Sunday & Most Major Holidays.
Frequently Asked Questions About Pawning Jewelry
One of the most common questions about jewelry is whether or not your jewelry is real. Whether we are discussing diamonds, gold, or silver. One of the easiest ways to solve this is to go and get it either appraised or have a pawnbroker look at it. But before that there are a few things you can do. Check the stamps on the jewelry to see what information was printed on the original piece.
GF stands for gold-filled. This means a very small amount of gold was used when making the jewelry. It is usually pressure bonded to the surface of the jewelry. By weight, gold-filled jewelry usually contains 5% gold or 1/20. Unfortunately, over time the gold surface can get rubbed off, decreasing the gold amount even further.
GP stands for gold-plated. This is jewelry that uses a cheaper base metal like copper or brass that is coated in a thin layer of gold. Like gold-filled there is very little gold in this type of jewelry and it can be rubbed off over time.
Karats refers to the percentage of any jewelry piece that is made of gold. In American jewelry we use a 24 Karat system. The number before the Karat indicates how many parts, out of 24, are gold. For instance 18 Karat gold is 75% gold. In European Jewelry this is sometimes done with a three-digit number. 750 would mean 75%, and 999 would be the same as 24 Karat, indicating pure gold.
There are many “at-home” tests for diamonds that work very similar to testing ferrous vs non ferrous metals. Basically, you would need to do multiple tests, because the tests are helping you narrow down whether or not the stone you have is following the same rules as a diamond. You may see an online test to drop your diamond in a glass of water, because diamonds sink, and fake diamonds float. If your stone floats you can almost be 100% it is a fake, but if it sinks you can’t be 100% sure it is real. Because there are fake diamonds that could sink. These at-home tests sound easy but they aren’t really conclusive on their own. The best thing to do is go to a jewelry appraisal appointment and have a professional inspect the diamond.
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