A woman from Addison, IL came into my shop and asked me “What is my jewelry worth?” This is probably the most common question we are asked by our customers at Sterling & Knight Jewelry & Pawn. Our gemologist and jewelry experts will evaluate your items right in front of you, using the methodology and equipment described below.
How are you able to figure out an item’s worth? Our pawn loan amounts are based on your collateral’s current appraised value, the condition it is in at the current time, and how we feel the item will sell (will it sell within a reasonable time). We implement and utilize all the research equipment we have at our disposal in order to figure out an item’s value so you end up receiving the most money for your item.
How do you figure out the value of jewelry? Our experts test the valuable metals and diamonds in order determine its overall worth. Diamond testing includes:
A visual inspection-This is carried out using a jeweler’s loupe.
The diamond is weighed or measured – Using a diamond scale or a millimeter gauge.
Color, cut, and clarity of the diamond are all taken into consideration
How are metals tested? Metals are tested by utilizing a unique acid test that will determine how many karats are in the gold. This will give you the peace of mind of receiving a clean, accurate test so we can give you the maximum loan you require.
How do you figure out the price of gold? We can determine the price of gold based on market values. These prices are constantly reviewed by our internal pricing department and updated as necessary. Prices do have the tendency to vary. For example, if you bring in a 24K gold piece, you can receive a higher loan amount if you had just brought in a 14K or 18K gold piece.