Often associated with knock-off items and cheap buys, pawnshops are commonly overlooked when shopping for an engagement ring. However, they can sometimes be a goldmine—if you know how to look. Here’s everything you need to consider before making a pawnshop purchase.
1. Know what you’re looking for
Nobody walks into a pawnshop for casual browsing. Even with a vague idea, you won’t always find what you’re looking for. However, it does help to come with a notion of what your fiancee would like. List options for gemstones (including the karat count) and what types of metal they prefer (gold, silver, white gold, etc). Having a basic framework of what you’re shopping for can make your search much easier.
2. Do some research
Now is the time to rid yourself of the idea that pawnshop items always come cheap—they don’t! Even used jewelry can be expensive. If you want to purchase something for the right price, do your research. Search for several ring types and get the average cost of what you’re looking for. Worst case scenario, you may run into a fake, so you’ll want to be able to spot telltale signs that a ring is not authentic.
3. Be ready to negotiate
As we previously mentioned, not everything at a pawnshop comes cheap. However, it doesn’t mean you can’t negotiate. In fact, negotiating is kind of a pawnshop staple. Don’t expect to walk out of a pawnshop with a ring that cost next to nothing. You might still have to pay hundreds of dollars for it, but might still be able to pay a few hundred dollars less.
4. Stay open-minded
If you find the perfect ring at a pawnshop that refuses to lower its price, it can be incredibly disappointing—but remember to stay open-minded. If you return to the same pawnshop a few weeks later to find that the ring you want is still available, you may have more leverage to make further negotiations. Alternatively, you can take a look at other rings in their inventory that might suit your fiancee’s fancy. If it comes in the gem you want but sports a different band, you might be better off purchasing it anyway and making alterations to the metal itself.
5. Always be prepared to walk away
While you can’t always expect a pawnbroker to arrive at the price point you’re prepared to pay for, you also have to know when it’s time to walk away. After all, you can always try shopping at a different pawnshop that might have the ring you’re looking for—and buy it for the price you were willing to settle for.
Conclusion
When purchasing an engagement ring from a pawnshop, you’ll want to be knowledgeable about how to shop at one in the first place. Once you’ve purchased the right ring, be sure to get it cleaned and appraised as soon as possible.
For the best
pawnshop near you, drop by River City Pawn. We stock only gently used quality inventory and can help you find exactly what you’re looking for in Kentucky!