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frequent questions

Pawn Shops

The concept of a pawn shop is not actually to sell your diamond. A pawn shop loans money, using an item as collateral. When you pay the loan back, you can get your diamond back. If you do not pay back the loan, they will sell the diamond quickly in their shop or they may sell to a diamond broker.

When you take your diamond into a Pawn shop, they generally don't have a gemologist on staff who can evaluate your diamond. The process a pawn shop uses is often as simple as testing it with a diamond tester to confirm it is real, measure the size of the diamond and offer a price based on a quick visual inspection.

Needless to say, this amount will always be less than you paid. The average price paid for a 1ct. diamond ring from a pawn shop would be about $150 - $200. Remember, they are not buying the diamond, they are using it as collateral against a loan... you are actually supposed to get it back when you repay the loan.