Estimate a loan on an engagement ring
We do not guess resale prices. Check recent sold listings for the same model and condition, then type the figure.
| Share of value | Loan | Max 1st-month charge |
|---|---|---|
| 30% | — | — |
| 50% | — | — |
| 70% | — | — |
Scenarios, not offers. Each shop sets its own percentage; the charge column is the maximum your state allows.
How pawn shops value an engagement ring
- The center stone is graded: carat, cut, color and clarity. A lab report (GIA, IGI) makes this faster and more reliable.
- Lab-grown diamonds are valued much lower than natural ones; the shop will test for this.
- The setting is weighed and valued as gold or platinum.
- Side stones and small melee diamonds add little.
What to bring
- A government-issued photo ID.
- The diamond certificate or lab report.
- The appraisal and the original receipt, if you have them.
An insurance appraisal is a replacement value, not a resale value, so expect offers well below it. Ask two or three shops for an offer; find them by city on the states page.
How much of the value will they lend?
There is no standard percentage. FirstCash, which runs Cash America, First Cash and other pawn chains, says in its annual report that the loan "typically is based on a percentage of the estimated sale value of the collateral", that it does not use a standard or mandated percentage, and that store employees set it item by item (FirstCash 2012 Form 10-K). That is why offers for the same item vary from shop to shop. The calculator above shows scenarios so you can compare offers you get.
What the loan costs
The charge is set by state law, whatever you pawn. Check the maximum for your state and amount:
Pawn loan cost by state
$40
maximum charge for the first month
- Total charges
- $40
- To get your item back
- $240
- Monthly rate
- 20.0%
Maximum allowed by state law. A pawn shop can charge less; your pawn ticket shows the real amount.
Pawn shops near you
Results
Enter a ZIP code or use your location to see the nearest pawn shops, with open-now status. Or browse a city: Las Vegas, San Antonio, Albuquerque, Tampa, Lincoln, Lubbock, Sioux Falls, Houston, Dallas, Columbus.
Questions
Why is the offer so much lower than what I paid?
Retail diamond prices include large markups, and resale prices for used diamonds are much lower. The shop also has to cover the risk that the loan is not repaid.
Is it better to pawn or sell a ring?
If you want it back, pawn it. If not, a sale usually pays more and leaves nothing to repay.