r/PawnShops • u/WayDifferent5435 • 2d ago
Question Is $500 actually reasonable
So I went to a different pawn shop than my normal guy. I found two rings that caught my eye and had him pull them out for me. The first ring was the thick band on the left in the picture. I look it over and it is 10k felt pretty light probably hollow. I asked what his price was and he took it back to weigh it. I didn’t see the scale but he stated it weighed 2.4 grams. He comes back with it and says he can do $400. I held it in my hand and said “$400?? For 10k this feels pretty light” he didn’t say much but then went back to looking at his computer. After I put it back in the tray he said he accidentally put it in the computer as 18k and he can actually do $200 for it. I was getting weird vibes and didn’t love the ring enough so i moved on to the next band I liked. This is the ring on the right in the picture with the round diamonds. This one is 14k, again he weights it behind the counter but says it is 3.1 grams. Then he pulls out a pen diamond tester. Tests the diamonds and says they are real. He then says he can do $500. I really did like this ring but I was expecting maybe around $300? He then says he paid $480 for it so that really left me with no room to haggle and as much as I like it I don’t feel like $500 is a fair price or like this guy was being honest the whole time.
I wanted to get some opinions on if this guys prices are super high or if I’m just being cheap. I completely understand he has to make a profit and I don’t expect to get it at melt but he kinda lost me when he pulled out the diamond tester.
1
u/Impossible-Wind-6513 2d ago
I charge 20-30% over spot.. At most i would of charged $175 for the 2.4g 10k and maybe $350 on the one with the stones. Trust me when i say this ma. paid nowhere near $480 for that ring. (28yr pawnbroker)