I’ve got to be honest with you right now. I absolutely love that somebody asked me this.
The question is very simple, do pawn shops by loose diamonds?
The answer to that question is normally yes.
Things like gold jewelry and diamonds are items that pawn shops deal with on an extremely regular basis.
They are used to seeing these types of items come into their shops all the time. They’re very comfortable working with them, and they’re usually going to have a good idea of what they can resell them for in the future.
When you take all of that into account, a pawnbroker is going to be very comfortable working with you on your loose diamonds and will probably be able to get you the best money possible for them in just about any situation.
That having been said, there are some things you need to know about selling loose diamonds to a pawn shop.
For instance, if the diamonds are very small, a pawnbroker may not be incredibly interested in them because, quite honestly, they have thousands of tiny diamonds in the various rings that they already own.
However, if the diamonds are of an appreciable size and quality, a pawnbroker will do pretty much anything they have to in order to get their hands on it at a reasonable price.
So What Kind Of Loose Diamonds To Pawn Shops Typically By
Typically speaking, they are going to be interested in two basic shapes.
Those shapes would be round and princess cut diamonds.
Additionally, they are going to be looking for diamonds that are clear and of a higher quality cut.
Thirdly, they’re going to be looking for diamonds that are of appreciable size. This will normally mean at least a quarter carat.
Any diamond that is under a quarter carat is not something that a pawn shop will typically be too interested in, however don’t take that to mean that no pawn shop will buy it.
There are plenty of pawn shops that will buy diamonds under a quarter carat. It’s just that having at least a quarter carat will improve your chances that a pawn shop will buy your loose diamond.
Why Is The Size So Critical
The reason the size is so critical is because pawn shops already have hundreds, if not thousands, of stones that are under a quarter carat in size.
They may literally be tripping over diamonds that size to be quite honest with you. It’s just a very common size to find in less expensive jewelry, such as the types of jewelry items that will normally come in to pawn shops on a regular basis.
However, once you start getting above a quarter carat, particularly over half carat, those diamonds come in a little less frequently.
Crossing over the threshold, once you enter a full carat or larger, then you really have something that a pawn shop is going to look at very hard.
How To Get The Most For Your Loose Diamonds At A Pawn Shop
In order to get the most for a loose diamond at a pawn shop, you should at least try to have some kind of certification for the diamond.
Even if you no longer have the item that the diamond was in, often times just having the appraisal, or for instance, the GIA certification for that diamond, will go a long ways towards telling the pawnbroker exactly what that diamond is.
Sometimes, pawnbrokers will have to guess what size, clarity, or even what color a diamond is, but if you have the documentation there for them to review, they will much more easily be able to work with you and get you a better offer for your stone.
Keeping this in mind, it’s never a bad idea to clean your diamond off before taking it to the pawn shop.
Diamonds, just like anything else, can get a layer of dust that builds up on them over time. If the diamond was removed from something like a ring, there may be other debris on it such as old lotion, or even something gross like dead skin cells.
If you take the time to make a diamond look as clean as possible, you will almost always be offered more for it than had you not.