Five Tips for Buying Used Jewelry

You can get some great deals at a pawn shop when you want to buy jewelry in Vienna, VA. If you are not careful, though, you can also pay more for something than it is worth. In July 2011, Money Management International wrote a blog suggesting the following five tips for buying used jewelry that will protect your interests:

• Do your own research before buying.

• Don’t buy without negotiating first.

• Read the fine print.

• Pay for your things with cash.

• Look at all your options.

Do Your Own Research

Before you agree to buy any jewelry, you should know what its value really is. Don’t depend on the seller to explain that information to you. Do your own research about how jewels or gold are valued. Realize, too, that some pieces of jewelry will hold their value much more than others. Also, the longer that a piece has been for sale, the more likely you will be to get a lower price.

Negotiate a Price

Buying from a pawnshop is not like buying from a department store. The price set by the pawnbroker is the beginning price for negotiation not the expected sales price. Don’t be afraid to negotiate for a good deal. But, before you begin your negotiations, determine what your top price is based on your research.

Pay with Cash

Paying with cash gives you a couple of benefits. First, cash payments boost your negotiation power. Cash speaks, and you might be able to get a better price than without cash. Second, when you pay with cash, you will be less likely to go over your predetermined limit.

Read the Fine Print

Always, always read the fine print. Some deals will have guarantees or warranties and others will not. Some will include cleaning and repair while others may charge extra. The details included in the fine print can turn a great deal into a rotten one.

Look at All Options

Take your time when you want to buy jewelry in Vienna, VA. As you do your research, you might find different locations that can sell a very similar piece at a much better price. If nothing else, getting information from other locations helps you get a better price for the piece that you do end up buying.