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Pawning 101: Maximize Jewelry Appraisal Rate

There are a few times in which we may have to pawn a few valuables in order to make amends with our budget. This is normal as we have to make ends meet once in awhile, especially as some expenses are unavoidable. With this in mind, we only hope for the best payback after presenting our crown jewels. After all, isn’t this the very reason that we are selling them? But what determines the type of amount we’ll be receiving when pawning our jewelry and what would be the best way to ensure that the offered amount we receive indeed matches their value? Here are a few pointers to remember:

1. You don’t get paid the same amount you bought the jewelry with.

This is rule number one when it comes to pawning. If you bought a ring for about P15,000 or more, you wouldn’t get paid the same amount. It wouldn’t even be the basis for the amount you’re going to get paid with, rather, the condition of the jewelry itself. Does it have scratches? Is the gemstone still intact? Does it have any dent? The more mint the condition is, the higher the amount you’re going to get in return.

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2. Gemology or appraisers? Which should you trust?

Gemologists are basically those who know how to value gemstones, but are weak in providing estimates in other forms of jewelries. Appraisers, on the other hand, are those that are trained to identify the value of any type of jewelry, and may have been jewelers themselves long ago. They have the edge over gemologists, in the sense that they know how to market research, hence, they can quickly provide estimates of the value when you’re intending to pawn your belongings and may definitely let you know if ever you may be receiving less or more than what was bargained for. Do take note though that some appraisers may charge a “consultation fee,” which is why you should prepare a little extra when asking for value.

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3. Do your own research.

The best way to find out the market value of your jewelry is to ask around the stores. You may be surprised that the prices of jewelry change from time to time, even quicker than some other products, hence another reason to have it appraised as well as routinely as you can. This doesn’t mean that you should have it validated monthly. Rather, whatever changes you may hear from the store, you may confirm via the appraisers. Only then may you know the current selling price of your jewels. This is one of many ways to know that you are not getting less than what should be given during the pawning process. Knowing the right value would save you from possibly losing something and not getting the fair amount at all. Be informed at all times and stay firm on your price range.

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 their Pawning Service you can never go short in any amount, as they accept an array of items, from jewelry to gadgets, as collateral. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its more than 1,800 branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.