Accounting for precious stones in the work of a jewelry pawnshop and jewelry store

Only an experienced specialist can correctly assess the authenticity and quality of precious material. As a rule, every branch of a pawnshop that you can find in the city has such an employee. Using special equipment, an appraiser can quickly determine the type of metal, its fineness, as well as the type of insert and whether it is precious, if the product contains them.

When assessing gold jewelry, a specialist pays attention to the following criteria:

• Appearance of the product for nuances, chips, damage;
• A sample of the precious metal, even if it is missing or worn off;
• Presence of inserts made of precious stones;
• Weight of the product and insert, if any.

Almost all pawn shops provide free appraisals for jewelry. If the offered amount does not suit you, you can simply take the jewelry you brought and leave.

What kind of jewelry is accepted

Pawn shops accept almost any gold jewelry. In particular, these are:

• Rings and earrings;
• Bracelets and chains;
• Pendants, pendants and medallions.

At the same time, the presence of precious stone inserts is taken into account. Such jewelry also undergoes careful control for:

• Type of stone;
• Forms of its cutting;
• Cleanliness of the insert;
• Weights in carats.

In some pawn shops, the stone is not taken into account, but only the total weight of the product is taken into account. If you want to get the largest possible loan, contact pawn shops where stones are valued separately.

Notes from the pawnshop

Before this meeting, I remembered my teacher in Jewelry. An elderly, stooped jeweler told with a grin how he worked in a pawn shop right after college, and the incidents associated with this work.

Advertising - Continued below

Thus, jewelry with stones, which many mistakenly called “Alexandrites,” were once very popular. Everyone knew that alexandrites were stones of extraordinary cost and beauty, but no one even realized that the “Alexandrites” in their jewelry were more like pink tempered glass than a mineral. In the “dashing” 90s, convinced of the high cost of products, owners of pseudo-stones flocked to the pawnshop. And what was their disappointment when they found out the truth about their products. So, one day, my future teacher made an elderly client faint by deftly removing a stone from the ring setting and... throwing it into the trash bin as unnecessary.

These products (with a beautiful ligature) are still in many families as an inheritance, memory, or gifts. Most often these are large red gold jewelry with massive inserts. My mom also has this ring. I am silent about the fact that the stone in it is an impostor...

So, before the interview, I remembered this and other stories about pawnshops and caught myself thinking that I had never been to a pawnshop myself and I really didn’t know anything about the specifics of its work. Moreover, I never thought that I could wear something that belonged to someone before (family ties do not count). And it was interesting to find out what unusual products and stones appear in pawn shops and what is now frightening its visitors...

Olga, an employee of a pawnshop network, answered the questions.

Anna Shcherbinina: Olya, please tell us how the pawnshop works? A person comes there who wants to pawn something, and...

Advertising - Continued below

Olga: And brings us items made of precious metals. More specifically - gold jewelry, gold and silver coins, bars, watches. We also take table and antique silver, and some platinum, but very selectively. If the client is satisfied with the assessment, then, having given us a passport, after completing the documents, he receives money, and can then either buy it back or leave his things with us for good. Some people get scared when they discover that it is necessary to draw up an agreement, but there is nothing wrong with that either, the conditions are extremely transparent and are fully articulated by us in simpler words.

Olya, I have never been to a pawn shop, moreover, I can’t even imagine that I could wear something bought there. Tell us more about your clients and work?

Can't imagine what you can wear? Seriously? (Smiles). Clients are completely different people who come for different reasons. Sometimes these are real historical characters...

Historical?!

Something like that. It happens that characters come from different eras, different social classes. For example, people are from the 90s, but without the “crimson jackets” or ladies, as if from the 19th century, and they bring appropriate things. Businessmen and their wives arrive. As a rule, such people pawn things that correspond to their status, sometimes absolutely chic.

Advertising - Continued below

So, you have branded items in your pawn shop, but are there items that can be called vintage or even historical?

Yes, such products also exist.

Such products are usually an expensive pleasure; do pawn shops also charge a premium for historicism?

What items are not accepted at pawn shops?

The list of gold products that pawn shops do not accept as collateral includes:

• Orders and medals;
• Nuggets and ingots;
• Gold waste and semi-finished products;
• Gold leaf.

How much can you get per gram of gold?

Initially, the price per gram of gold is not taken out of thin air by the pawnshop. First of all, the appraiser focuses on the Central Bank rates. Thus, for 1 g of gold of the most common standard – 585 – pawn shops are ready to offer a loan from 1,480 rubles, and for 999 gold – from 2,500 rubles (at the time of publication). The rule here is simple: the higher the standard, the more expensive the gold jewelry will cost.

How are products with stone evaluated?

Many pawn shops value jewelry with precious inserts based on their total weight. The thing is that there are not so many specialists who can distinguish a genuine piece of jewelry from a fake. Stones are evaluated by gemologists specially trained in this craft, and not every pawnshop is able to employ such a professional.

However, if you go to a pawnshop where gold and diamonds are appraised separately, consider yourself very lucky! This way you can get a larger loan amount secured by the product than if you calculate it in total.

Price per gram of gold

The exact cost of a piece of jewelry can only be found out from the organization itself that takes things as collateral or buys scrap precious metals. At the same time, much depends on the appraiser, who determines the artistic value and safety of the object, and most often these indicators are artificially low. The table shows the estimated prices of 1 gram without the right of redemption in November 2021:

Average price for 1 gram of gold in a pawnshop, in rubles

Since the price of precious metals, currencies and gold itself is constantly adjusted in the world, it is advisable to make independent calculations on the day of the intended sale of scrap or entire products. Before selling your gold, you should pay attention to the offers of banks and thrift stores: if you do not need finance urgently, it makes sense to wait a certain amount of time and get a good price for the precious metal you are selling. Often, at a buying point they can buy scrap gold for good money, since the cost of scrap there is higher, as far as we know from reviews.

Pawn or sell

The question “Pledge or sell” probably came to mind at least once to those who were planning to pledge property to a pawnshop. Most pawnshops today accept gold jewelry exclusively as collateral, however, the client himself can determine the fate of his jewelry by not showing up on time for its redemption. Thus, the sale of gold will take place, and the price for it will be the unpaid amount of the deposit.

Gold purchased from collateral can serve as a safety net for you in times of crisis countless times. Therefore, it will be more profitable to buy the gold back and, if necessary again, pledge it again.

Here's what you need to know about pawn shops

1. In the pawnshop industry, there are few pawn shops and many scammers. All legal organizations are listed in the state register of pawnshops. Check who you are dealing with.
2. If a pawnshop works with precious metals and stones, its name must be in the register of the Assay Office.
3. A legal pawnshop contains the word "pawnshop" in its name.
4. The pawnshop keeps the pledged property and insures it at its own expense.
5. When applying for a loan, the pawnshop issues the borrower a pledge ticket and a loan agreement. If you are offered to complete the transaction differently, they may be scammers.
6. Pawnshops cannot attract deposits from the public. If you are offered to invest, we advise you to refuse.
7. It is more profitable to sell unnecessary items yourself than to take them to a pawnshop or consignment store.
8. You can return your property at any time before it is sold.
9. The pawnshop does not have the right to set an interest rate higher than that allowed by the Central Bank of the Russian Federation.
10. When pledging a car, do not issue a power of attorney to the pawnshop employees. You will be left without money and without transport.
11. Avoid pawn shops that operate half-heartedly and pretend to be thrift stores.

Source: Tinkoff Magazine

Features of receiving elite products

If you are going to pledge expensive diamond jewelry and expect to receive an adequate amount for it, you should not contact the first establishment you come across. Take care in advance to search for specialized institutions that accept elite jewelry, because there are not many such organizations. When evaluating such products, the following are taken into account:

• Size and weight of the stone;
• Its color, purity and quality;
• Elite brand;
• The aesthetic value of a product, especially if it has an original design or is an antique.

A standard pawn shop will simply offer you an amount of money based on the total weight of the jewelry.

How to get a loan from a pawnshop

You need to come to the pawnshop, hand over the item, sign documents and receive money. Everything happens quickly: without checking your credit history or calling contact persons.

How is property received? The client contacts the organization’s office and provides property for collateral. A pawnshop employee evaluates the property and tells you how much you can expect. If the appraisal suits the borrower, the pawnshop specialist prints and signs the documents, takes the item and issues the money.

Documents for pledging property. To pledge most things, you only need a passport. It’s good when there are checks and receipts, purchase and sale agreements that confirm that the borrower bought this item and did not steal it. This can increase the value in the eyes of the appraiser. But the pawnshop will accept the deposit anyway - on parole.

With vehicles, everything is more complicated: the pawnshop must make sure that the borrower is the owner of the car or is acting on his behalf under a general power of attorney. They ask for PTS, STS, power of attorney, purchase and sale agreement.

Drawing up a loan agreement. The loan agreement is formalized by issuing a pledge ticket. The pledge ticket must indicate:

1. Name and address of the pawnshop.
2. Full name and passport details of the borrower.
3. Name, description and estimated value of the pledged item.
4. Loan amount.
5. Date of loan issuance and repayment.
6. Loan interest rate.
7. Does the borrower have the right to repay the money early?
8. The borrower’s agreement or disagreement that the pawnshop can collect the item without contacting a notary.

According to the law, in order to recover property, a pawnshop must contact a notary.
The notary will check the documents, issue a writ of execution and take money for his services. This is inconvenient and unprofitable for the pawnshop. But there is a loophole - if the borrower gives written consent, you can do without a notary. Such consent is written down in the pledge ticket by default: if you signed the ticket, then everything is fine. If you don't sign, you won't get the loan. One copy of the ticket remains with the pawnshop, the second is taken by the borrower. It is important that the ticket describes in detail the item of pledge: not just a phone, but the make, model, serial number. Otherwise, when you buy out your deposit, you can get a Nokia with a flashlight instead of your iPhone.

In addition to the ticket, the pawnshop is required to sign and issue a loan agreement to the client. The form of this document is established by the Central Bank of the Russian Federation and is well known to clients of microfinance organizations and banks.

Inspection and acceptance certificates may also be drawn up. They are especially needed when pledging a vehicle in order to avoid later disputes in the style of: “But there was no scratch here, and in general I handed over a new red Mercedes, and this is a black Volga with a mileage of 100 thousand.”

Front and back sides of the bail ticket. This is a strict reporting form - its type is determined by the state. The pawnshop is required to issue such a ticket when applying for a loan. Paragraph 5 states that I do not object if the pawnshop recovers the property without contacting a notary. In addition to the pledge ticket, the pawnshop must draw up and issue a loan agreement to the borrower. But not all organizations do this. At first they didn’t give it to me, but when I demanded it, they handed me a copy without signatures or seals. This is illegal, so I can write a complaint to the Central Bank

What are the guarantees for the return of valuables?

Today there are not as many unreliable organizations as there were before, but no one is safe from fly-by-night companies where you can bring gold today, but tomorrow you simply won’t find a pawnshop. Therefore, it is recommended to pawn jewelry in a company with many years of experience, which has long occupied its niche in the market. A self-respecting company will treat each visiting client with care, and also take care of its reputation, both in the market and online.

How to check the authenticity of a pawnshop? You can spend 5 extra minutes surfing the Internet, reading reviews about the chosen company, or blog posts/on social networks. If pawnshop employees provide feedback to their clients for several years in a row, you don’t have to worry: this is a reliable organization.

You can also require the pawnshop employees to provide a Certificate, which also indicates the long-term and legal existence of the pawnshop, as well as guarantees of the return of your personal valuables.

What is a pawnshop

This is an organization that issues loans secured by things.

For example, Sergei urgently needs money, but no one gives it. Perhaps in his youth he went on a financial spree and ruined his credit history - now even microfinance organizations refuse. Or Sergei does not officially work and cannot confirm his income.

Then he brings a TV to the pawnshop. He is given a loan, and the TV is taken as collateral. If Sergei gives the money, including interest, the TV will be returned to him. The pawnshop does not take much risk: it will either receive money from the borrower or sell the pledged item and still make money. Therefore, they are not interested in Sergei’s credit history and his employment.

The work of legal pawnshops is controlled by the Central Bank - the Central Bank of the Russian Federation. It maintains a state register of companies that have the right to engage in pawnshop activities.

A legal pawnshop must meet the following requirements:

1. Its name includes the word "pawnshop". And vice versa: if the organization is not a pawnshop, it does not have the right to use this word in its name and advertising.
2. Open only from 8am to 8pm. There are no legal pawn shops 24/7.
3. Engaged in providing loans, storing things, providing consulting and information services. Any other types of activities for pawnshops are prohibited.
4. Cannot use or dispose of clients' belongings that are pledged. For example, a pawn shop employee cannot wear a client’s ring, even if he really wants to.
5. Must submit reports on its activities to the Central Bank of the Russian Federation.
6. The pledged property must be stored in premises where it will be protected from damage and theft.
7. Obliged to insure the pledged property at his own expense.

What is gold purity?

What people call gold is not pure precious metal. Otherwise the price would be different. Fineness reflects the percentage of pure gold in an item. Let's look at this with specific examples.

• 375 sample. The products will have a low content of pure gold - about 38 percent. And 62% is occupied by copper, silver and nickel.
• 583 and 585 samples. More expensive products. The pure metal content here is increased to approximately 58%. Unlike items made of 375 gold, which fade over time, such jewelry retains its original shine.
• 999 sample. The percentage of pure metal in such jewelry is 99.99. This is immediately reflected in the starting price that jewelry stores will ask for a ring or earring.

You will receive detailed advice on pledges and any issues related to pledging gold in Minsk by calling the Crediton pawnshop network at 707-24-24 (A1, MTS, Life).

Advantages and disadvantages of pawn shops

The main advantage of each pawnshop will be the speed of registration and issuance of money immediately after the property is assessed. In addition, the client has the right to return his things immediately after he has established his financial affairs.

You may be interested in: What do you need to know to melt gold yourself at home?

No bank can boast of such efficiency and the minimum number of documents provided by the borrower.

The entire financial component of the issue lies in the shortcomings. Interest on the loan will be mercilessly high, but not critical, from 0.5 to 1% per day, and the terms for repaying the money are short. But, for paying a certain percentage, the client has the right to extend the contract and retain the right to buy back his valuables.

Is the price of gold the same in pawn shops?

The answer to this question may surprise you. But different pawn shops offer different collateral amounts. Despite the uniform tariff schedule of the Ministry of Finance, the assessment of property by an expert is carried out differently in each institution.

The human factor and professionalism also play a role here. The Pawnshops of the Crediton network bring together the best gold appraisers from all over Belarus. We never cheat, offering a fair price for your property in each specific situation!

What can you pledge?

Each organization specializes in certain things - this makes it easier to evaluate goods and sell them in case of non-return of money. The only thing pawn shops do not work with is real estate. That is, you can sell everything to a pawnshop except apartments and houses. Below we will look at the most popular products.

Gold

Pawnshops that have the right to accept jewelry must be in the register of legal entities working with precious metals and stones. Such a list can be viewed on the website of the Central Bank of the Russian Federation. If the organization is not in the registry, then it is better not to trust it with your gold jewelry.

Gold can be accepted:

• like jewelry, the estimated value will be higher;
• like scrap - the cost will be less there.

When a client brings a gold item, it is first assessed by a specialist. He bears financial responsibility. If it turns out that he valued the goods above its real value, the employee will have to compensate for the damage.

Loan secured by CarMoney (Karmani), Persons. No. 005203

from 0.07%

rate per day

up to 1 million

730 - 1,431 days.

Take out a loan

First of all, appraisers look at the gold purity and the weight of the product. The higher the sample, the higher the price. For example, if a ring is tested as 658, this means that it contains 65.8% gold. Everything else is various impurities (palladium, silver, etc.).

In addition, the specialist needs to check whether the gold in front of him is real. This can be done in several ways:

• A small cut is made with a small file. A small amount of reagent is applied to this location. The reaction determines what metal is contained in the jewelry;
• There is a way without damaging a valuable item. The jewelry must be rubbed on a special touchstone. This is done so that microparticles of metal remain on the stone. And then the reagent is dripped onto it so that the reaction takes place;
• checking the decoration with a spectrometer. This is an effective and non-traumatic method, but the equipment is quite expensive, so it is not available in all pawnshops.

It is best to find out in advance from the pawnshop what valuation method their specialists use. Otherwise, there is a risk of damaging the product and reducing its market value.

Online loan Creditplus, Persons. No. 004402

from 1% per day

First loan 0%

up to 30 thousand

5 – 30 days

Take out a loan

Precious stones in a gold item do not add much to the overall cost. Unfortunately, most organizations do not know how to evaluate them correctly. Most often, the weight of the stone is simply calculated from the total mass. At the same time, without understanding how valuable it is.

Approximate prices for gold jewelry are as follows. 1 gram of gold jewelry is estimated from 1,400 to 1,600 rubles per gram (it all depends on the chosen organization). That is, only the gold itself is valued, and not the work of designers and jewelers. Because the market price of 1 gram of scrap gold is about 1,600 rubles.

Silver

Appraising silver items is similar to appraising gold. Here, too, first of all they look at the sample and weight of things. The only thing that differs is the cost of a gram of silver. For 1 gram you can get about 30 rubles. This is significantly cheaper than gold. To get a substantial amount, you will have to provide a lot of things.

You can bring not only silver jewelry, but also:

• cutlery;
• watches, lighters and other accessories;
• various technical parts made of silver (for example, wires).

Microloan online Moneza, Persons. No. 005464

from 1% per day

First loan 0%

up to 30 thousand

5 – 35 days

Take out a loan

Watch

In addition to gold and silver, there are many products that pawn shops specialize in. For example, a watch.

We primarily accept watches from luxury brands or items made of precious metals. Swiss watches from Breguet, Hublot, Ulysse Nardin, Rolex, Louis Moinet are prized. Usually on the organization’s website there is a list of brands that can be pledged.

When a client brings a watch, they are first assessed by its appearance and degree of wear - scratches, condition of the case and strap, etc. The preserved watch packaging and documents from the manufacturer raise the stakes.

If the watch is made of precious metals, the appraiser will check the purity and authenticity of the metal. Afterwards you will need to look at the internal mechanisms of the watch.

Jewelry

Pawn shops are reluctant to deal with jewelry. But jewelry can be profitably pledged.

In addition to gold and silver, other valuable metals and, in addition, precious stones are accepted. All items go through the stages of authentication and evaluation. In addition to the authenticity and value of the metal, the original design, processing and variety of alloys are taken into account.

Online loan at 0% Online borrower, Person. No. 003545

from 1% per day

First loan 0%

up to 30 thousand

7 – 30 days

Take out a loan

Technique

The main criterion is that the product must work and have a presentable appearance. In addition, as in the case of watches, it is better if the client has packaging and documents for the equipment.

What you can sell for money:

• smartphones;
• desktop computers and laptops;
• cameras and video cameras;
• Building tools;
• household kitchen appliances (coffee makers, refrigerators, ovens, dishwashers, etc.)

Furs and fur coats

Specialized pawnshops accept fur products. Not only fur coats, but also fur vests and hats.

The most common type of fur product for obtaining a loan is mink coats.

All items will be evaluated. Specialists look at the condition of the fur, for wear and contamination, and check the quality of the seams. It is important that the client provides documents for the goods, as well as purchase receipts.

There is no need to wait for a high estimated cost of a fur coat. As a rule, they will give no more than 40% of its real value. In most cases, it is better to try to sell it on specialized sites than to take it to a pawnshop.

Cars

Lime loan Lime loan, Persons. No. 004670

from 0.49% per day

First loan 0%

up to 70 thousand

10 – 168 days

Take out a loan

Unlike microfinance organizations, pawnshops take cars as collateral and place them in their parking lot. This is not a pledge against a title when the car can be used.

They accept almost any movable property - motorcycles, specialized household equipment, and trucks.

You must provide documents for the car:

• PTS;
• contract of sale.

After inspecting the vehicle, the client must be given an inspection report, which details all defects, mileage and all external features. In addition, an acceptance certificate is drawn up.

The client can receive about 70% of the cost of the car. The cost of car insurance is paid not by the borrower, but by the organization itself.

Under no circumstances should you issue a general power of attorney for a car for employees of an organization. If you are asked to do this, go to another pawnshop. There is a high risk of encountering scammers.