Are Pawn Shops the Best Jewelry Buyers in Los Angeles?

best jewelry buyers in los angeles

If you currently have a collection of jewellery that you are looking to sell to make some quick profit, then it’s fair to say that there are plenty of options for how exactly to do it. There are, of course, things like online auction sites and second-hand markets that you can attend to see if there is an audience for your pieces, but there are also different kinds of establishments that lend a more specialist eye to this kind of thing, namely gold buyers and pawn shops. If you live in an area that has both at your disposal, then you might need some advice on which to pick. With this in mind, here is some information about who are the better jewellery buyers in Los Angeles, pawn shops or gold buyers?

What Is The Difference Between Gold Buyers And Pawn Shops?

The honest answer is that they are remarkably similar in the ways that they deal with transactions involving precious metals. However, there are a few slight differences that can sometimes make a big change in things like price and experience.

Both gold buyers and pawn shops will always work off the current market price point for gold. This is a live price with gold referred to as the ‘spot price’ which is continuously changing. After determining the spot price, it is then up to the buyer to decide how much extra to offer. Gold buyers will tend to offer around 40%, whereas you might find a better deal at a pawn shop depending on how much they are interested in the specific item.

 best jewelry buyers in los angeles

Which Is The Better Deal?

You can often find as much as 70% over the spot price when you strike a good deal with a pawn shop, and in our experience, it is always a pawn shop that is able to provide a better deal for the seller compared to a traditional gold buyer who is much more interested in the basic value of the metal.

Something to also consider is the fact that pawn shops provide several different options for your transaction that might interest you. You can use your jewellery as collateral for a loan, you can take your payment as credit for the shop itself, or you can go ahead and choose a simple cash transaction. Gold buyers don’t usually engage in these kinds of varied practices, so if you want a little more flexibility in your dealings, then a pawn shop is going to be the better option and better deal.

If you think that you would prefer to go down the pawn shop/gold buyer route yourself, then don’t hesitate to turn to the LA Loan Company as a great starting point. Feel free to get in touch with any of our experienced team members who are among the best jewellery buyers in Los Angeles. They will be more than happy to talk you through any part of the process that you might not be familiar with. We very much look forward to being able to help you out with your jewellery concerns.