When faced with an emergency requiring immediate finances, pawning your jewellery is certainly a viable option. In fact, it’s something millions of people from all walks of life have been relying on for centuries. Despite the time-sensitive nature of the emergency you may be facing, it’s important to do a bit of research to make sure you get a fair deal and that your jewellery is well taken care of. This is especially important when the jewellery you’re pawning has sentimental value.
24/7 Jewellery Pawn Service in Johannesburg with Secure Storage
The first and most important thing to keep in mind is time — emergencies don’t wait for when it’s convenient for you. While most pawnshops around Rivonia and Johannesburg have fixed operating hours, Pawn Shop Johannesburg offers a 24/7 jewellery pawn service for your convenience.
You’ll also want to be sure you’re dealing with an honest and trustworthy pawn shop that will safely store your jewellery under lock and key until you’re ready to pay off your pawn loan. At Pawn Shop Johannesburg, we store all your valuables in a secure facility and are fully licensed and accredited by the NCR, meaning you’ll have no issues retrieving your pawned jewellery once you’ve fully paid off the loan and interest.
How to Get the Best Price When Pawning Your Jewellery
Pawning your jewellery shouldn’t just be about getting the most you can in the shortest amount of time. Most pawnshops are fully aware that customers pawning jewellery are facing tough times, and some unscrupulous ones will take every opportunity they can to take advantage of your situation. At best, they’ll undervalue your jewellery. At worst, they’ll offer you a price that’s too good to be true to distract you from the outrageous loan terms and interest rates hidden in the fine print — leaving you with a nasty surprise when it comes time to pay off your pawn loan. In such cases, you might end up paying a lot more than you actually received, or you might never see your treasured jewellery ever again. Be realistic when pawning your jewellery and get your jewellery appraised before you start checking out pawn shops. This will give you a better idea of what you can realistically get for it.
How Much Jewellery to Pawn
Figuring out how much jewellery to pawn before getting a pawn loan is essential. This ensures that neither the loan term nor the interest will cripple you financially and is just as, if not more, important that getting the loan itself. Of course, you’ll want to avoid pawning more (or less) jewellery than you have to. Therefore, you really must get an accurate appraisal before pawning your jewellery in Johannesburg.
Remember that you won’t get the full market value for your jewellery, so be sure to also find out what kind of pawn loan you can get. To make this easier, you’ll ideally want to get your appraisal done at a pawnshop rather than a jeweller, since they’ll also be able to give you a better estimate on how much they can loan you. Pawn Shop Johannesburg provides an appraisal service to determine the most appropriate price for your jewellery and the fairest offer on your pawn loan. If for any reason we can’t give you an accurate appraisal value, we’ll do our utmost to recommend someone who can at a reasonable price.
Getting the Loan
When it comes to getting a pawn loan for your jewellery, it’s worth knowing at least some of the basics to ensure you’re not getting a raw deal. Pawn loans are essentially collateral-based loans, meaning they’re secured by something of value. In this case, the thing of value is your jewellery. When bringing in your jewellery to pawn, the pawnbroker will first determine whether they’re interested in what you have to pawn. To improve your chances of getting a pawn loan (and getting a better deal on your loan), it’s worth making sure your jewellery is clean, presentable, and in an appropriate case whenever possible. If you show up to a pawn shop and pull out a load of tarnished gold from an old bag, don’t be surprised if you get turned away.
Next, the pawnbroker will carry out a quick assessment of what they think the jewellery is worth and what they’re prepared to loan you. Appraisals aside, you’ll seldom be offered the full market value for your jewellery when pawning it. Expect to be offered a loan of anything from 50-70% of your jewellery’s true market value. At this stage, it’s important that you pay extra attention to the loan term and interest rates to avoid getting taken for a ride. As we mentioned earlier, dishonest pawnbrokers may offer you an attractive loan amount to distract you from their crushing interest rates and unreasonable terms. At Pawn Shop Johannesburg, there’s no need to worry about this last point. Our appraisals, loan terms, and interest rates are all carefully calculated to provide you with the fairest and most affordable pawn loans possible for your jewellery.
Once that’s all done, just sign the paperwork, hand over your jewellery, and receive the cash. Simple as that! Be sure to keep the pawn receipt in a safe place to avoid any issues when retrieving your jewellery once you’ve paid off the pawn loan.
Don’t risk trusting a dishonest pawnbroker, even in an emergency. Deal with the best and you’ll be treated right. No other pawn shop, whether in Gauteng, Sandon, Fourways, or Johannesburg can match our amazing rates. Get in touch today!