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Engagement Ring? How To Buy One Affordably!

Updated on December 14, 2015
Shopping at pawn shops is like finding buried treasure!
Shopping at pawn shops is like finding buried treasure!

Shopping at Pawn Shops = Finding Buried Treasure!

I love pawn shops and that's where I shop for jewelry. It's like hunting for buried treasure but the difference is that you will find it!  In my opinion, if you want to save money on that diamond engagement ring, there's no better place to shop!

Here's how pawn shops work: A person needs money and goes to a pawn shop for a quick loan. In this example, he pawns a diamond ring, about 0.50 carats, with good color and minimal flaws. It also has good "cut". The man gives the pawn broker the appraisal from the jeweler where he bought the ring. It cost $2,000.

You never know what you'll find in a pawn shop.
You never know what you'll find in a pawn shop.

Here's How the Bride-To-Be Benefits...

In order to keep the ring, the man who pawned it must pay monthly "loan" payments to the pawn shop. In this case, the man defaults on the loan, meaning the pawn shop now owns the ring and that's where you come into play.

The pawn shop nows puts this beautiful $2000 ring up for sale. They loaned the man who owned the ring $300, so they put the ring up for sale for $950.

An engaged couple sees the ring and negotiates a price of $900. The pawn shop has made a nice profit and what a deal this couple got on this ring. It's a win-win for all!

You can even find pawn shops in Boca Raton.
You can even find pawn shops in Boca Raton.

Finding a Pawn Shop...

You don't need to go to a seedy part of town to find a pawn shop. They're all over. Even in places like Boca Raton and Beverly Hills.

If you want to save money on a diamond engagement ring--or any type of ring for that matter, try your local pawn shop. You may just be pleasantly surprised!


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