When faced with financial circumstances, your valuable assets can become your greatest allies. Among these assets, Diamonds stand out as precious gems of considerable worth. While the traditional route often involves visiting a jewellery store to sell them, an increasingly popular alternative is turning to a pawnbroker.
But why choose a pawnbroker over a conventional jeweller when you need cash? This blog explores why choosing a pawnbroker to obtain cash against diamonds can be wise and advantageous.
Dealing with a Traditional Jeweller
If you want to sell or pawn diamonds, a traditional jeweller may not be able to provide you with the help you need. Jewellery shops are mainly keen on selling diamonds but not necessarily buying them from the customers. They prefer to source their diamonds from industry suppliers. Moreover, there is hardly any jewellery shop that is willing to give you a loan on diamonds.
Even if you find a jeweller interested in purchasing your diamonds or giving a loan, they won’t offer a very good price for your asset.
How Pawnbrokers work?
Pawnbrokers provide an easy, quick and efficient way to raise quick funds by giving instant loans against various items, including luxury watches, gold, diamonds, etc. If you want to borrow against your diamonds, take your item to a reputed pawnbroker, and they will assess it based on several factors to give you the best value. Unlike traditional jewellers, pawnbrokers charge no fee or incentives and will offer an instant loan amount.
Once you accept it, you’ll receive cash for diamonds immediately. Whether you have a single diamond or diamond jewellery set, pawnbrokers will readily accept your asset as security for the cash loan.
They will return the item once you repay the loan and the due interest. In the event you fail to repay the loan, the pawnbroker keeps the item you pawned and sells it to recover the loss.
Why choose Pawnbrokers over Traditional lenders?
When it comes to turning your valuables into immediate cash, the choice of where you go matters significantly. Here are the reasons why you should consider pawnbrokers over any other traditional form of financial aid:
7 significant advantages are:
1. Quick Access To Cash
Pawnbrokers can be a lifesaver when you’re in urgent need of cash. Choosing a reputed pawnbroker to pawn your diamond can help you get the money in minutes. At Luxbrokers, we understand that people rely on pawnbrokers to access quick funds and aim to provide fast and secure same-day cash loans so you can meet your requirements effectively. Just bring in your item, and we’ll offer an instant payment.
2. No Credit Checks
Numerous credit checks have a negative impact on your credit report, especially when multiple lenders run the checks. This can affect your future finances. Thankfully, Pawnbrokers don’t delve into your credit history before lending you the cash. They aim to simplify the process, making it quick and hassle-free for those with a low credit score.
3. No Long Paperwork
Unlike traditional lending institutions, pawnbrokers don’t really have extensive paperwork, making the process swift for customers. No vast amount of information or documents is required to receive the funds. For example, if you pawn your diamonds with Luxbrokers, all we need is a valid ID proof and your sign on the loan agreement to give you the fund.
4. No Long-Term Obligation
A temporary cash issue requires a short-term solution, and that is what pawnbrokers aim to provide. If you want to access cash without long-term obligation, pawning your valuables could be the ideal solution.
The loan term varies depending on the pawnbroker, and once you repay the loan amount along with the outstanding interest, the pledged item will be returned to you immediately.
5. You Retain the Ownership
Pawning is your best option if you’re not inclined to part ways with your asset permanently. Pawnbrokers operate on a collateral-based lending process, allowing you to redeem your item upon repaying the loan amount with any accrued interest.
Here at Luxbrokers, we charge no early retrieval fee, and you can redeem your item at any point during the loan period without any hidden cost.
6. Speedy Transactions
Time plays a crucial role when you need quick cash. Pawnbrokers are known for their swift, secure and efficient process. Unlike the potentially time-consuming procedures at traditional jewellery stores, pawnbrokers can quickly assess the worth of your item and offer you immediate cash.
7. Diverse Asset Acceptance
Pawnbrokers often accept a wide range of items, including jewellery, luxury watches and more. If you want to pawn loose diamonds, a diamond jewellery set or a single diamond, pawnbrokers enable you to leverage various assets for the cash you need.
How Pawnbrokers give you the best value for your diamonds?
More often than not, traditional financial institutions fail to realise the full worth of your diamonds and offer a lesser value than you’d expect. This is one of the main reasons pawnbrokers have emerged as a preferred choice.
Here’s how a reputed pawnbroker excels in providing you with the optimal value for your diamonds:
- Expert Gem Appraisal
Pawnbrokers usually have in-house jewellery experts and skilled gemologists who possess a deep understanding of diamonds in all forms. They carefully evaluate your diamond based on factors like cut, clarity, carat and size, ensuring an accurate assessment.
- Market Insight
Pawnbrokers are always in terms of the changing market trends and pricing dynamics. This expertise allows them to offer competitive valuations that reflect the true worth of your diamonds.
Well, there aren’t many ways to secure quick funds without any credit checks, lengthy application process or hidden fees, but pawnbroking is surely one of them.
Are you interested in pawning your diamonds for quick cash? Here’s what you should do.
Pawn your diamonds with Luxbrokers
With a reputation built on trust, discretion and expertise, Luxbrokers offers a seamless and secure process for pawning your diamonds. We’re committed to providing you with a valuation that reflects the true market worth of your item.
Our in-house jewellery experts, with years of industry expertise, thoroughly evaluate your diamonds. They consider the 4 C’s and other integral factors (brand, age, condition, provenance and market demand) to give you the best offer in the market.
Once you agree to it, we’ll pay you the cash instantly!
You can pawn diamonds online or drop in at our Hatton Garden store for a quick appraisal.
Start by getting a FREE quote for your diamonds. Fill in our easy online form with the maximum details of your item, and we’ll reach out with an instant offer.
This will give you an idea of how much your diamond is worth.