Selling Diamonds VS Pawning Diamonds in Las Vegas

A diamond is a brilliant little gem that you can find in nature. It is a mineral that occurs naturally when carbon deposits within the earth encounter high temperatures and pressure. Some say they are less rare than gold; however, people are still willing to pay more for diamonds. For this reason, selling your diamond has now become one of the fastest ways to earn cash. Pawning diamonds may be a tempting way to loan some money, but pawn shops tend to take advantage of their client’s urgent need for cash. If you plan to pawn your diamonds, try bringing them to a certified diamond buyer first to see the difference. 

Value of Diamonds

It costs to bring them into the market and has a limited supply. Hence, people want to get their hands on diamond items as much as possible. Anything diamond can last a lifetime if you take good care of them and store them properly. If you wish to sell your diamonds, it is crucial to understand the value of diamonds first. This way, you can avoid cheap offers and score the perfect price for your diamond. 

Pawning Diamonds

Usually, people pawn diamonds to get a short-term loan when they need cash fast to get them through a difficult time. Such challenging times may involve paying credit card bills or even medical emergencies. Although they provide a quick solution to monetary problems, you should try to avoid pawning diamonds for several reasons. 

Firstly, pawn shop dealers are not experts on items. This is why they take in almost anything. They do not have expert gemologists who know and can explain the value of diamonds. Pawn shops merely assign a value to it without having a clear basis and process. When this happens, you can’t be sure if the price they offer you is what you truly deserve. 

Second, people who rely on pawn shops for quick loans usually do not qualify for good bank loans. Pawnshop owners take advantage of this and exploit their clients by giving an offer with higher interest rates than a bank would. Once you pay off your loan, you only get back the item you pawned. You end up paying more than what you gained. 

Lastly, when you accidentally forget to pay off your debt, you end up losing your item. In essence, you’ve just sold off your diamond for a low price. The pawn shop will sell your diamond later on for a higher price, making a considerable profit off of your forgotten loan. 

Sell Diamonds Instead

If bringing your diamonds to a pawn shop is bad, where should you take them?

Sell your diamonds to licensed buyers like Nevada Coin Mart. We have proper evaluation processes and systems that we use to determine the actual value of diamonds. With these, you can be sure that we give you the best deals that match the actual value of your diamonds. 

Once you decide to sell your diamonds, you don’t have to worry about paying anything constantly. Also, unlike when you pawn diamonds, selling is way easier and more convenient. 

Plus, our team of expert diamond buyers does not seek to buy items at reduced prices. This is far different from pawn shops that give a horrible cost-to-benefit ratio. Besides, not all pawn shops accept diamonds, as diamonds aren’t really that rare. Most of them only deal with gold and silver, so if you want to save energy, effort, and time, sell your diamonds to a buyer instead. Better yet, sell them to Nevada Coin Mart, the best buyer of diamonds in all of Las Vegas. 

#1 Buyer of Diamonds

Nevada Coin Mart has been buying diamonds and jewelry for over 25 years. We have helped millions get the best deals for various items and collectibles. Our team pays cash up front, so dealing with us is never a hassle. We also allow clients to watch as we test their items to help keep their minds at ease. Pawning diamonds may be a good option, but selling them is a better way to get a good deal. You can visit us at our only store: Nevada Coin Mart® 4065 S. Jones Blvd, Las Vegas, NV 89103. You can also call us at 702-998-4000 if you want to talk to one of our expert diamond dealers today. Here’s a list of diamond items we are looking for:

  • Diamond Jewelry
  • Diamond Watches
  • Loose Diamonds
  • Certified Diamonds
  • Diamond Rings