Are my better off Selling or Pawning my Jewellery?

Whether you should sell or pawn your jewellery depends on your current financial situation, your attachment to the jewellery, and your willingness to lose the items potentially.



Selling your jewellery involves outright transferring ownership to someone else, usually in exchange for cash. If you’re in need of quick cash and don’t have a strong emotional attachment to the jewellery, selling might be a viable option. Keep in mind:

1. Value: You might not get the full appraised value for your jewellery when selling, as buyers often look for deals and may offer less than the market value.

2. Emotional Value: If the jewellery has sentimental value or is an heirloom, consider whether the financial gain from selling is worth letting go of those memories.

3. Long-term Goals: Think about your long-term financial goals. Will selling the jewellery help you achieve those goals more effectively than other options?



Pawning involves using your jewellery as collateral for a loan. You’ll receive a loan amount based on the value of the jewellery, and you’ll need to repay the loan with interest within a specified period to get your jewellery back. Consider these factors:

1. Interest and Fees: Pawnshops charge interest and fees, which can be higher than traditional loans. Make sure you understand the terms and costs associated with pawning.

2. Repayment: If you’re unable to repay the loan within the agreed-upon timeframe, you risk losing your jewellery permanently.

3. Urgency: Pawning might be more suitable if you’re in a temporary financial bind and intend to retrieve your jewellery once you’re able to repay the loan.

Before making a decision, here’s what you can do:

1. Assessment: Get a professional appraisal of your jewellery’s value. This will help you make an informed decision about whether selling or pawning is more suitable.

2. Evaluate Alternatives: Consider other ways to address your financial needs, such as personal loans, borrowing from family or friends, or finding other sources of income.

3. Emotional Considerations: Consider the emotional attachment you have to the jewellery. If sentimental value is high, think carefully before parting with it.

4. Research: If you’re leaning toward pawning, research reputable pawnshops in your area and understand their terms and conditions.

Ultimately, the decision depends on your unique circumstances. If you’re unsure, you might want to consult with a financial advisor or someone you trust before proceeding.