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| HOME : FORUM : EDUCATION : DIAMONDS : Calling all pawn shop Queens! |
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Post#1 @
06-22-04
, 10:29 PM
Hi Everyone I was hoping for some advice from our pawn shop bargain hunters! I know the pricings may not be comparable between the US and here, but at least I'll be getting an idea. I had a phone call on Saturday from a friend who was standing in a pawn shop with a 1/2ct si1, fancy light yellow diamond in an antique setting (believed to be late 1800, but she is prepared for the fact that it may not turn out to be a genuine antique). It had an appraisal from the same appraiser that I use for my jewelry (they have a great reputation around here) The appraisal said $2500 (AUD) The pawn shop was offering the ring for $1000 (AUD) and my friend wanted to know if it was a good deal.... Now I know you would never actually pay the price on an appraisal, but $1000 still sounded like a bargain to me, so we decided that she would put a deposit on the ring and seek further advice... With the current exchange rate, $1000 AU = $680 US, and $2500 AU = $1700 US Thanks! Ali |
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Post#2 @
06-23-04
, 06:52 AM
Sounds good...but, did she negotiate? My friend owns a pawn shop, and he marks up between 100-1000% on jewelry. For example, he bought a 1 carat VS-H stone last week for 500.00, and has it in the case for 3000. Plenty of room for negotiation! Oh, and it is always better to walk in with cash. |
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Post#3 @
06-23-04
, 04:41 PM
She should always get at least 1/3 marked off what they are asking. That seems a little high to me - is it in platinum? |
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Post#4 @
06-27-04
, 12:43 AM
Kerda, so jealous I can't have a buddy pawn shop owner. I always pay cash  for everything.Still looking for some stuff. |
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Post#5 @
06-27-04
, 02:02 PM
I haven't visited any local Pawn shops yet, but after hearing some of the great stories on DT by Orzo, I think I need to! I would agree that cash talks and gives you some leverage. I would take the absolute most you want to pay with you - no more! Now put a couple hundred of that away in a seperate location in your purse. Try to negotiate with only the amount you have left. IF he is really sticking to a higher price, then you'll have a littel bit of back up cash in your purse. NEVER say or show him the absolute highest amount you're willing to pay at first! Good Luck! |
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Last edited by DiamLady : 06-27-04 at 02:07 PM.
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Post#6 @
06-27-04
, 08:46 PM
Hi Everyone! Thanks for the replies... sorry I didn't get back to you sooner, we went on a short holiday  I did try to encourage her to offer them $700 at the time... but she's not the kind of girl to bargain unfortunately. I doubt she would have got far... it was obvious to me over the phone that she had fallen in love with the ring, so the woman in the shop must have known which side her bread was buttered on  She's paid a deposit on the ring now, so I guess the price is fixed...So I guess she hasn't got a bargain, but then she hasn't got ripped off either... she'll be happy with that. Thanks for everyone's advice... I plan to go visit this pawn shop with her next week, so hopefully there will be a bargain for me!!Ali |
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Last edited by Ali1979 : 06-27-04 at 08:47 PM.
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Ali, I hope your friend likes her purchase. It will really depend on just how yellow the diamond is too. The deeper the yellow, the better deal she got for her $1000. |
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