If you’re looking for a way to add some sparkle to your life, jewelry is the perfect place to start. You can find unique pieces to mark special occasions or go on a treasure hunt for vintage and estate gems. While pawning jewelry may seem like an easy and quick option, you should consider the risks before making this decision. According to estimates, only 20% of pawned jewelry is returned and if you do get your piece back, it’s usually just for a small amount of money and the interest fee that goes with it.

Jewelry Pawn Locations: Where to Find the Best Deals

Jewelry pawn locations aren’t always the best option to sell jewelry because their business model is designed to benefit the pawnbroker more than the customer. They’re only interested in buying pure metals such as gold and silver and will typically give you a fraction of your item’s actual value. You can find better deals selling to a jewelry store instead of a pawn shop, as they offer higher prices and professional guidance throughout the sales process.

For example, if you have a 28-gram 14kt gold chain, you’ll receive around $500 for it at a pawnshop based on the current price of gold and how much they pay for each item. The same item would be worth considerably more at a jewelry store that is well-established and offers a wide selection of inventory. Many of these businesses also provide appraisals and guarantee their purchases, which is something you won’t get at a pawnshop.