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The Dos and Don’ts of Jewelry Appraisal

For every pawning transaction there will always be the process of assessing the item. There is nothing unusual about that as it would only be correct for the pawnshop to check if the price that you are asking for is fair and justifiable. However, there are certain factors that most customers overlook in the long run, and that is the dos and don’ts whenever you’re getting your jewels appraised. It may even be the first time that you are reading about this factors, hence, feel free to take note of these important tips, as not only would they help you get a great deal off your items, they would also teach you the most valuable techniques in pawning of your other jewels in the future:

Let us begin with the “Dos”:

     1) Do feel free to check with multiple appraisers.

Many customers would usually settle with the very first assessment that they would get, not knowing that there may be a possibility of getting a better deal elsewhere, and that possibility usually comes off correctly at the end. There is a particular “rule of three (3)” when it comes to finding the best deal. Get your items assessed in three different pawnshops, in that way, you may get a reasonable estimate of your jewelry’s value. Whichever one of them offers the best amount, then go for it. Remember, you have every right to scout for the best deal there is, and your options will and must never be limited.

     2) Do your own research regarding the current rates and values of different jewelry.

What better way to come up with a reasonable price than to know the current market price itself. This is done in order for you to not undervalue or overprice your item. Yes, the customer is always right, but that doesn’t mean you have every right to price your item, at the expense of the pawnshop. Overpricing was never a right thing to do in the first place, especially if you’re pawning off second-hand jewelry. The opposite may be said as well if ever you do not do your homework, the pawnshop itself may attempt to give you a very low price, knowing that you do not its current value.

Now, for the “Don’ts”:

     3) Do not pawn to the very first appraiser that you would encounter.

Remember when we said that you should not limit your choices? Well, that also applies in this particular pointer. As with shopping for your own clothes, you have various options to choose from. Even a shirt with great quality- can totally be bought for a cheaper price. The same may be said about the pawnshop that you’re transacting with. After getting your very first appraisal, ask around for another price assessment. If the first one doesn’t sound right, go for a second. If the second one still doesn’t do it for you, then go for a third. Feel free to discover as much options as you can to receive the best deal.

     4) Do not pawn your items in bulk.

Remember, you are pawning off your jewelry, not your old DVD collection. Pawning them off in bulk only gives them an impression of undervalue. Pawn them off separately, to various pawnshops or branches, if possible. Whichever way you can get a high price for each jewelry that you’re going to pawn, then go for it. In this way, you may also get a general idea of their estimated justifiable price from each branch that you would come across with, make comparisons in the long run, and plan out your strategy with each visit.

With all of that being said, you may be looking for a pawn shop that would provide you with the most honest and highest appraisal possible. No worries, as Cebuana Lhuillier has got your back. With our Pawning Service you can never go short in any amount, as we accept an array of items, from jewelry to gadgets, as collaterals. We also lead the pawning industry by offering safety and the highest appraisal rate in the industry in our more than 2,200 branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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