If you are looking for some fast cash but don't want to take out a payday loan, an alternative you might want to consider would be to put some of your jewelry up as collateral at a local shop that offers jewelry loans. This will allow you to get the money you need without having to deal with a credit check. Obviously, the more and higher quality the jewelry you provide, the higher your potential loan might be. If you want to maximize the amount of money you can get, here are three tips that might help.
Stick to Solid Materials or Be Prepared to Cut Complex Jewelry Apart
If you have jewelry that consists of multiple types of materials, you might not get the maximum value possible if you try to put it up as collateral in its current state. Some jewelry loan shops are only interested in gold or diamonds, which means you might not get much value from any gems like emeralds or rubies that are embedded in your otherwise gold piece. Try to stick to jewelry that is all solid gold if possible or be willing to break gems off of the jewelry and have them weighed seperately if you want to ensure that you get the most accurate value possible.
Get an Apprasial for High End Pieces
If you own some jewelry that you are absolutely sure is worth a pretty penny, it is likely worth it to pay for an official appraisal before you take it into the loan shop. A loan shop has to consider risk when making a loan and might not be willing to issue a loan for thousands of dollars if they are not 100 percent certain the collateral is worth it. An apprasial removes any gray areas from the consideration and can ensure you get a loan for the full value of your jewelry.
Talk Up Your Emotional Attachment
A pawn or jewelry loan shop may be willing to give you a bigger loan if they feel extremely confident that you will be paying them in full to get your jewelry back. One way you can try to make it clear that you will pay is to talk up the sentimental value of the item. If you are putting up an engagement ring or family heirloom as collateral, it's likely you are going to want it back, which should help you maximize the loan amount.
Jewelry loans are a great way to get cash fast without a credit check. To get the money you need today, come prepared with an appraisal for high end pieces and be sure to separate different types of metals and materials like gold and gemstones. For more information, reach out to a local jewelry loan company like C & L Gold & Diamond Brokers.
