consumer guidance. we do not sell jewelry.

Jump to content

View New Content      Forum Rules                            New here? Quick site intro

buying a diamond ring in a pawn shop


  • Please log in to reply
3 replies to this topic

#1 Guest_gregtexan_*

Guest_gregtexan_*
  • Guests

Posted 12 December 2005 - 11:45 AM

I plan on buying a possible engagement ring in a pawn shop but I dont know what to look for. How can I tell if its a good diamond and can I fix it up to look like its brand new so my girlfriend wont know i bought it in a pawn shop. my email address is gregtexan2000@yahoo.com. thanks greg.

#2 ben

ben

    Cut Diamond

  • Member
  • PipPipPipPipPipPipPipPipPipPipPip
  • 350 posts
  • Interests:Physics, gemology, finance, musings.

Posted 12 December 2005 - 11:55 AM

1. You will get a better deal (better diamond at a better price) if you buy from a jeweler, not a pawn shop. Look around this website for reputable dealers.

2. Although this website is not for relationship advice, I'll go out on a limb and suggest that being anything less than completely straightforward and honest with your girlfriend may not be the best way to start a lifelong trust-based relationship.
"Fish and Visitors stink after three days"

#3 diamondsbylauren

diamondsbylauren

    Ideal Diamond

  • A-List Jeweler
  • 1,424 posts
  • Location:New York City

Posted 12 December 2005 - 12:45 PM

I think Ben gave some sound advice.
I will add that there are some very fine pawn shops with actual jewelry stores attached- some of these are comperable to a regular jewelry store.
The places I'm refferring to keep the lawnmowers and bowling balls in an entirely different room.

#4 denverappraiser

denverappraiser

    Ideal Diamond

  • A-List Appraiser
  • 6,947 posts
  • Gender:Male
  • Location:Denver Colorado, USA

Posted 12 December 2005 - 03:15 PM

There’s nothing wrong with buying either jewelry or lawnmowers from pawnshops.

With jewelry, they do tend to specialize in low-end goods. By this I mean things like I-2 K stones that are cut like a turnip but with an attractive price point when compared to the Rap sheet or some mythical 'appraisal'. If this is what you’re looking for, they’re a pretty good place to go although you should watch out for the tendency to overdescribe the merchandise. SI2 vs. I2, H vs. K may look like gobbledygook but it's really pretty important. When they get the opportunity to buy a high quality stone off of the street, they long ago learned that they will do better to sell it through a ‘real’ jewelry store and fill their own cases with items that show a big flash for little cash. More than half my class at GIA was pawnbrokers and a lot of these folks are pretty savvy people. It’s a matter of managing their inventory with the kinds of merchandise that their customers demand. A lot of pawnshops are better at selling jewelry than they are at buying it and they have to supplement their purchases from the same suppliers that everyone else uses. They are, in effect, jewelry stores with a specialty sort of décor. Some are actually pretty high volume stores. Apparenty this is a popular theme with certain customers.

One of the funny problems in the pawn business is that a location that is good for buying things is probably not also a good location for selling. This is part of the reason that the big chains are so successful. They can buy at one place where the economy isn’t doing well and nice things are being sold and then sell somewhere completely different.

The way to tell if it's a good diamond and/or a good mounting it to buy it with the right to return for a 100% refund if you decide that you are unhappy within some reasonable amount of time - Then get it immediately appraised by an independent appraiser. They can also advise you of any required repairs or other concerns that you might want to address before you present it as a gift.
Neil Beaty
GG(GIA) ICGA(AGS) NAJA

There's never a crowd when you go that extra mile.
Professional Appraisals in Denver