Business

IS IT BAD LUCK TO PAWN AN ENGAGEMENT RING

A high-end Brisbane Pawn Shop can become an excellent resource when in need of fast cash. Unlike your traditional lender or bank, pawnbrokers provide you with money immediately. In life, there are many instances when you need cash today. Maybe you have medical bills or miscalculated your paycheck. You need not feel embarrassed. All you need is someone that can help. 

Find a Collateral Lender

When you visit a pawnshop, you need to present some form of collateral. So, if you are married, you have an engagement ring or wedding band, making for a perfect collateral item. Your gold ring might even have diamonds just as valuable as the gold. Pawn dealers love gold and diamonds, and they are worth loads of money. Still, should you pawn your engagement ring for cash?

Pawning Has No Bad Stigma Attached 

No, it is not and let know one tell you there is humiliation towards pawning your engagement ring. Firstly, pawning gold jewellery or an engagement ring does not need to have a bad vibe when used as collateral. When in need, you have no time to feel proud. 

You have a valuable item to get you back on your feet. First, your engagement ring is a worldly thing worth a lot when pawned or sold. Secondly, you heard people saying that a pawnshop will switch out your expensive diamond when you pawn it. We are here to tell you something like this happening is rare when you visit a high-end Brisbane Pawn Shop

It is not easy to remove a stone to replace it with a lesser valued one. You need to be careful when removing the diamond to prevent it from breaking apart. Also, setting a diamond is more complicated. The whole process of removing precious stones is way too much work. 

Another crucial thing is a pawnshop business needs to keep a reputation. The word gets around fast if you do switch out a stone. The pawnbroker will be out of business in seconds. So what’s better. Making a few dollars today or being out of business tomorrow. Or having an excellent reputation for running a business for years. The answer is obvious!

Lastly, suppose you do not repay your pawn loan to collect your engagement ring. In that case, the dealer will not be able to get their money’s worth when putting the gold ring up for sale with a lesser valued stone. 

Concluding The Decision of Pawning Engagement Ring 

So, if you have a gold wedding band or a diamond engagement ring, it makes for a great piece to use as collateral for a loan at a pawnshop. For this reason, visit a local pawnbroker in Brisbane to have your engagement ring evaluated to lend you money against it. 

Swallow your pride and get a short-term loan, and you will be okay. At least you can repay your pawned loan in 30-days, and you can extend it if it does not work out. Another alternative is if you have come from a broken relationship. 

Selling your engagement ring to a pawnbroker can quickly give you the money you need without the need to repay a loan.  

Leave a Reply

Your email address will not be published.