Top 4 Benefits of Using Your Jewelry as Loan Collateral

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If you’ve recently been laid off or have run into some unexpected bills that you can’t afford to cover without assistance, collateral loans can be a saving grace. Their structure allows you to get the cash you need quickly without a lengthy vetting process or having to part with items you treasure. Jewelry collateral loans give you the best of both worlds — keep your luxury goods and still get the money you need — which is why they’re a popular choice for residents throughout Orange County. If you need a loan, here are a few key reasons why using your jewelry as collateral may be the best choice.

1. No effect on credit history

The number one concern for most people in need of financial assistance is the negative effect it will have on their credit score. With a collateral loan, there’s no effect on your credit whatsoever, regardless of whether you pay back the loan or not. If you fail to pay back your loan within the time allotted, we merely keep your jewelry collateral as repayment for the loan. This means no longstanding debt, continuing interest, or harmful credit effects. 

2. No financial information is required

Similarly, good credit isn’t required to qualify for a collateral loan. When you apply for a traditional loan through your bank or other financial institution, there will likely be a lengthy vetting process that requires you to submit several financial documents showing that you’re in good financial standing. Not only is this inconvenient and time-consuming, but you’re also at risk of being rejected for the loan you need if you have bad credit or no credit. With a jewelry collateral loan from Watch & Wares, no financial information is required. We don’t run a credit check, and your credit history doesn’t matter. If you have fine jewelry, then you automatically qualify for a collateral loan equaling the appraised amount of your luxury goods.

3. Lower interest rates

One of the most significant benefits of a jewelry collateral loan is the low-interest rates compared to traditional lending. Since collateral loans are less risky than unsecured loans, they often have a much lower APR. This can drastically reduce the total amount owed, making it easier for you to pay off the full loan amount within the designated time frame. At Watch & Wares, all of our collateral loan interest rates are state-regulated so you don’t have to worry about unfair or inflated rates. 

4. Generous loan terms

Watch & Wares is proud to offer generous collateral loan terms that maximize your chances of repaying your loan successfully and redeeming your gold or diamond jewelry. All of our loans are four-month terms with a ten-day grace period. If you need more than the provided four months to repay your loan, you can renew the collateral loan by paying back the full interest owed. If you fail to pay back your loan in full or renew it in the time given, we will keep your collateral as repayment. Our loan terms were created to help you repay the loan and keep your valuable jewelry, but collateral loans are the ideal option even in the worst-case scenario of failing to repay.

If you have valuable gold or diamond jewelry and you need some extra cash, visit Watch & Wares in Tustin. Our jewelry collateral loans are secured and trustworthy, with state-regulated interest rates and consistently 5-star customer service. We’ve been Orange County’s most trusted gold and jewelry buyers for more than 30 years. To schedule a jewelry collateral loan appointment and receive a free appraisal, give us a call today at (714) 731-9600.

Understanding the Six C’s of Diamond Buying

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Diamonds are one of the most sought-after materials in the world. As their value continues to rise, more and more people are choosing to buy and sell their fine diamond jewelry to get in on the action. But, how do you know what your diamond is really worth? Whether you’re buying diamond jewelry as a gift or seeking a collateral diamond loan for cash, understanding the six C’s of diamond buying will help you make sure you’re getting the fairest value possible.

1. Cut

The cut of the diamond refers to its shape. More specifically, it refers to the way that the stone reflects the light. Examples of common cuts are round, oval, princess, and pear. The cut plays a part in determining the value of the stone because some cuts are rarer and more desirable than others. The most popular cut is the round brilliant since its 360-degree symmetry maximizes light refraction and offers unparalleled sparkle.

2. Color

Another factor in a diamond’s value is its color — or lack thereof. The less color that a diamond has, the more valuable it is. The GIA grading scale from D to G evaluates the amount of color that a diamond possesses, with D representing colorless diamonds and G representing yellow, brown, and other uniquely colored diamonds. Color is the second biggest determination of a stone’s value, after its cut.

3. Clarity

The clarity of a diamond refers to the diamond’s lack of imperfections or inclusions. Inclusions are created when crystals fall into the stone while it’s being formed, affecting the structure of the diamond. The fewer imperfections or inclusions a diamond has, the more valuable it is. Diamond clarity is graded on a 6-point scale ranging from Flawless (FL) to Included (I).

4. Carat

One of the most common terms associated with diamonds is the carat. This refers to the weight of the diamond (and often, as a result, the size of the diamond). The more a diamond weighs, the more expensive it is. When added to all the other ‘C’ factors, carat is an important part of determining a stone’s approximate value.

5. Certificate

This less-common ‘C’ refers to a GIA Certificate. This is the most recognized and respected diamond grading certificate in the jewelry industry, and it’s a necessary part of any jewelry purchase. Before you buy or sell diamond jewelry, make sure it’s graded by a GIA gemologist and obtain a certificate that verifies the quality and value of your diamond. If your jeweler won’t provide you with a certificate before you purchase, find another diamond seller that will.

6. Collateral Loan

When purchasing diamond jewelry, it’s wise to think past its cut and color and also consider how it can work for you for years to come. If you’re ever in need of fast cash — whether for medical bills, rent, or just some extra spending money — you can commoditize your diamond jewelry and use it for a collateral loan. 

At Watch & Wares, we provide collateral loans on diamonds, offering some of the highest loan values in the Orange County area. Our expert appraisers will use the traditional 4 C’s to appraise the value of your piece, and a GIA certificate could help further increase the loan value you receive. If you are looking for the best place to sell jewelry in Orange County or have your diamond jewelry appraised, give us a call at (714) 633-2030 or stop by at one of our locations today.

Reasons to Sell Your Gold Jewelry

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Since ancient times, and even up until the last few decades, gold has been seen as a symbol of status and wealth. Selling gold jewelry meant your family had fallen on hard times, and there was a certain stigma of shame surrounding it. Today, however, gold jewelry is extremely common and owned by virtually everyone at some point in their lives. With this, selling jewelry has become similarly common, offering a way for you to exchange that outdated family brooch for same-day cash you can put to beneficial use. If you have gold jewelry at home collecting dust, here are just a few reasons why you should start Googling “where to sell jewelry near me”.

Get cash when you need it

There’s no shame in needing cash. Whether you have unforeseen home repairs to pay for or sky-high medical expenses your insurance won’t cover, you can get quick cash for whatever you need it for by selling your gold and diamond jewelry. Don’t take out a loan with staggering interest rates or get buried in crippling credit card debt. Selling your gold jewelry for cash gives you the money you need without becoming beholden to anyone or going even further into debt. 

Get rid of clutter

Have you discovered a pile of unused jewelry during your spring cleaning? We’re all guilty of allowing our jewelry to collect dust, especially as the professional landscape has changed over the past year. If you have gold jewelry you no longer wear, it can be put to better use by selling them to a gold and jewelry buyer such as Watch & Wares. You can enjoy a clean, organized closet once again and have cash in your pocket for something you’ll wear more. Additionally, your sold jewelry will get a second life, as it’s available to be purchased by someone who will appreciate it to its fullest and wear it more frequently. Get rid of excess clutter and get cash fast by making the decision to sell jewelry at Watch & Wares.

Take advantage of precious metal price increases

The price of gold has increased exponentially within the past two decades alone. In 2001, the value of gold was around $279 per troy ounce. Today, it’s worth more than $1,800. This increased value is also true for other precious metals such as palladium and silver. If you have gold jewelry sitting around at home, you could be missing out on hundreds or thousands of dollars. Jewelry you or a loved one purchased in the 20th century has likely increased in value tenfold, so you can secure a great return on investment by choosing to sell your gold jewelry today.

Quick & easy selling process

One of the historic challenges of selling jewelry is finding places to sell gold jewelry that are reputable and trustworthy. Luckily, there are many more options for selling jewelry today than ever before, and you no longer need to visit a sketchy pawn shop or untrustworthy individual to complete a transaction. If you’re wondering where to sell jewelry in your area, Watch & Wares is a perfect choice. We make the selling process comfortable and hassle-free with our boutiques in Orange and Tustin, staffed by experienced professionals with years of knowledge in the gold jewelry industry. We always have a GIA gemologist on staff for appraisals, and we regularly offer higher values than any other store in the area.

If you want to sell your gold jewelry for cash, Watch & Wares is Orange County’s premier choice. We’ve maintained a 5-star rating over our 30 years in business because we always prioritize integrity and transparency. Our top priority is always ensuring a comfortable appraisal experience for our customers, so they are ensured to be happy with their decision to sell. To schedule an appointment for an appraisal or to find out more about Watch & Wares, give us a call today at (714) 633-2030.

How to Get the Most Money Selling Your Gold Jewelry

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If you’re looking for the best place to sell gold jewelry for top dollar, you’re not alone. Any Orange resident searching for a good place to sell gold is going to want to get the most money possible for their valuable items. But how do you ensure this? It’s not enough to simply search “sell jewelry for cash near me” and pick the top result. In order to get the most money when selling gold jewelry, you’ll need to follow these three key steps.

Clean or restore your gold jewelry before having it appraised

A key part of maximizing the value of your gold jewelry is to have it in as good condition as possible when getting your valuables appraised. Restoring your jewelry can help you earn a significant return on investment and increase the value of your belongings when it’s time to sell. Gold jewelry restoration specialists such as those at Watch & Wares know exactly how to treat various precious metals and stones in order to clean them thoroughly without damaging any part of the item. However, if you’d rather not spend the extra money to have it restored, cleaning it yourself at home can help you increase the appraisal value as well. You can clean gold jewelry using a combination of dish soap and ammonia, or you can purchase a cleaning product made specifically for gold items. Be careful of any gold jewelry that contains gemstones, however, and verify that your cleaning method is safe for those specific stones. 

Know the value of your gold jewelry beforehand

Another way to ensure that you’re getting the most money for your gold jewelry is to do thorough research on the market value of your item. Untrustworthy gold buyers, of which there are plenty, will try to offer you far below a fair value in order to maximize their profits. Knowing the market value of your item and a fair resale estimate beforehand will keep you from falling prey to opportunistic gold buyers like these. If you’re selling your gold jewelry to a gold buyer rather than a private party, they will always offer you less than market value since they are taking on the time and expense of reselling the item to a private buyer. However, they should still offer you a fair value for your item that isn’t too far from the market resale value. Have your item appraised by an objective third-party or from several gold buyers in order to establish a clear idea of what a fair price range for your gold jewelry would be. 

Shop around for a good place to sell gold

When you’re parting with sentimental and valuable items such as gold jewelry, it’s important that you never act on impulse. If you’ve decided you definitely want or need to sell the piece, take the time to do thorough research on gold buyers near you in order to determine which one is the most reputable and will give you the most money for your item. Look through their online customer service reviews, verify that they’re licensed to buy gold jewelry in your state, and make sure they have a certified gemologist on staff. These are all signs of a reputable, trustworthy gold buyer, and they will be most likely to offer you a competitive price with a comfortable customer service experience. If you have multiple pawn and loan shops you’re considering, get appraisals from each of them. Any good place to sell gold will allow you to walk away after an appraisal, and you can always come back later once you determine which gold buyer will give you the most money for your item.

Stop searching for “sell jewelry for cash near me” and picking the first result you see. Instead, take the time to research the best place to sell gold jewelry and get the most money possible for your valuables. At Watch & Wares in Orange, we offer some of the most competitive rates in the area. If you’re looking for a good place to sell gold jewelry and get top dollar, allow our expert appraisers and gemologists to look over your item. There’s never any pressure or obligation to sell, and we always strive to provide a welcoming and comfortable selling experience. To schedule an appointment, give us a call today at (714) 633-2030.

Top 4 Reasons to Buy Gold Jewelry From a Pawn Shop

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When most people decide they want to buy or sell their gold jewelry, they’ll begin by simply Googling phrases like “buy and sell gold jewelry near me” or “sell jewelry for cash near me”. However, this can lead you to untrustworthy and unverified websites that can dupe you out of your jewelry for a low price or make you pay too much for an inauthentic piece. When you want to buy fine gold jewelry at an affordable price, there’s no better place to look than your trusted local pawn shop. If you live in Irvine, Tustin, or anywhere else in Orange County, Watch & Wares is the best place to sell gold jewelry, which makes it the best place to buy it too! Here’s just a few of the many reasons why you should buy gold jewelry from a pawn shop like Watch & Wares.

1. It will be more affordable

Choosing to purchase gold jewelry from a pawn shop rather than a jewelry store will almost guarantee that it is more affordable. Since pawn shops are the best place to sell gold jewelry, the pieces available to purchase are secondhand and therefore sold at a discount, even if they’ve never been worn. Unless a piece is exceptionally rare, the discounts available through secondhand jewelry buyers like pawn shops are significant, which is why many Tustin residents love buying gold jewelry from Watch & Wares.

2. There’s a wide selection

Many Irvine residents love the unique experience of shopping at a pawn and loan shop because you can find treasures unavailable anywhere else. From antique pieces to contemporary classics, the wide range of gold jewelry items available from pawn shops like Watch & Wares is unparalleled. From Tiffany & Co. rings to one-of-a-kind handmade pieces, we have jewelry of all types, from all eras, and at any price point. You never know what gems you can find when you buy gold jewelry from your local pawn shop.

3. It’s guaranteed authentic

When you browse for jewelry online through independent or unverified sellers, you have no way of knowing whether the pieces are authentic until it’s too late. Pawn and loan shops like Watch & Wares authenticate all pieces before selling them, so you can have total confidence that your items are worth what you’re paying for them. We are always fully transparent about every item, from karat and quality to age and retail value.

4. It will likely be restored

Just because pawn shops sell secondhand jewelry doesn’t mean that the pieces are in bad condition. On the contrary, all gold jewelry sold at Watch & Wares goes through an extensive repair and restoration process before it’s listed for sale. From tightening clasps to polishing the metal, we restore all pieces to their best possible condition before passing them onto you.

Next time you’re tempted to Google “buy and sell gold jewelry near me” or “sell jewelry for cash near me”, remember that Watch & Wares offers some of the most exquisite gold jewelry in Irvine, Tustin, or anywhere else in Orange County. Watch & Wares is the best place to sell gold jewelry, so it’s the best place to buy it too. If you want to browse a selection of fine jewelry unavailable anywhere else in the area, stop by a Watch & Wares location today. Give us a call at (714) 731-9600 and we would be happy to schedule an appointment for you.

How to Get Money Fast by Loaning Your Valuables

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Unfortunately, more Americans than ever are looking for ways to earn cash fast due to sudden job insecurity and financial instability. With many employers reducing or shutting down operations for the next few weeks or months, finding a steady income is proving to be a significant challenge for Irvine residents. However, one way to make ends meet is by taking out a collateral loan from local pawn and loan shops.

What is a collateral loan?

A collateral loan is a loan secured by something you own, such as a loan on Rolex watches, jewelry, or designer handbags. In the process of a collateral loan, the pawn and loan shops will hold onto your collateral and pay you a fair value for those items. If you repay that loan within the agreed-upon time frame, your item will be returned to you. If you fail to repay the loan, the lender will keep your collateral as payment. Many people prefer collateral loans because they have no effect on your credit. Whereas bank loans are dependent on your credit score and can damage your credit if you fail to repay, collateral loans will never affect your credit and you often don’t require a credit check to qualify. 

What can I loan?

Just about any physical asset can be used as collateral for a loan, depending on your lender. At Watch & Wares, we accept watch loans and jewelry loans as well as loans on rare items like coins, fine art, antique valuables, and other luxury goods. We begin by appraising your item and determining its current market value. Once we have offered a loan amount that you agree to, we’ll give you the cash same-day and issue you a loan ticket that clearly states all the terms of your watch loan or jewelry loan. All of our loans are four-month terms with a generous ten-day grace period. Our interest rates are state-regulated, and repaying your full interest amount allows you to extend the loan period if needed. If you fail to repay your loan on time, we will keep your used Rolex watches or other luxury items as repayment for the loan. If you do repay the loan in full, we will return your items to you right away.

Why choose Watch & Wares?

Watch & Wares has been a reliable source of luxury pawn services since 1991. We have a stellar team of industry experts and trained gemologists that can provide accurate appraisals and unparalleled customer service during the loan process. Whether you’re looking to take out a loan on Rolex watches or designer handbags, we offer some of the most competitive rates in Southern California. We offer generous loan terms, and our process is fully transparent. Other pawn and loan shops can be untrustworthy, unfair, or even unlicensed. Here at Watch & Wares, we always offer a safe, comfortable luxury experience. 

If you have used Rolex watches or other luxury goods that you’d like to loan for same-day cash, call the experts at Watch & Wares. We’ve earned the trust of your Irvine neighbors, and we’d love to earn your trust as well. To make an appointment at our Tustin location, give us a call at (714) 731-9600 or fill out a contact form on our website.

What to Do Before Selling Your Gold Jewelry

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There are innumerate reasons to want to sell your gold jewelry pieces. Maybe you want to make room for new pieces in your life, or maybe you want to have a little extra money lining your pockets. The process of finding the best place to sell gold jewelry, however, can be more difficult than you might expect. If you’re planning to sell jewelry in Irvine, it’s important that you work with a trusted gold buyer like Watch & Wares and follow these crucial steps before you sell your jewelry pieces.

Make Sure You’re Willing to Part With Your Pieces

When you considering selling to nearby gold buyers, the first and most important thing is to not act on impulse. You don’t want to be wracked with regret afterward, so make sure that you’re ready to part with the pieces you plan to sell. You need to be certain that the emotional value that your jewelry holds does not outweigh the monetary value. This is why the most commonly sold jewelry is broken items or outdated pieces with no emotional attachment. Don’t worry if your jewelry isn’t flawless; at Watch & Wares, we buy damaged or broken jewelry and restore it before it’s resold. 

Research Nearby Gold Buyers

When you’re trying to find the best place to sell jewelry, always do your research. You need to get an accurate appraisal of the value of your jewelry, and that can only come from a professional jeweler. An appraisal will verify exactly what your jewelry is made up of. Most gold jewelry in the United States is made in 10, 14, or 18 karats, meaning that a certain portion of other metals is mixed in with the gold to add resilience. This will influence the value of the jewelry itself and help determine what price you can get for it. 

At Watch & Wares, our appraisals are performed by experienced jewelers and gemologists who can accurately offer you a fair price for your gold jewelry. Unlike most gold buying services, we make sure to take the design and age of your jewelry into consideration. Antique or designer jewelry can sell for more than just its value in raw materials, which we will identify on your behalf. Unlike most gold-buying services, we also offer money for gemstones set in jewelry as well. 

Be Wary of Mail-In Gold Buying Services

When purchasing or selling jewelry, it’s always better to do it in-person with a certified professional. When you work with a service that has you mail your jewelry in exchange for money, you are leaving yourself vulnerable to your items being lost in transit, or even worse, getting scammed. If you choose to work with a mail-in service, make sure that they are a certified business, and verify that they have a reimbursement policy. Of course, if you choose to sell jewelry at Watch & Wares, you don’t need to worry about these factors; we operate physical locations in Orange and Tustin, and our certified professionals are always ready to assist you throughout the selling process. We understand that jewelry is often more than metal and stones; it also has genuine emotional value. We will never try to pressure you into a sale, and we will always respect your final decision. 

Thanks to our professional and respectful approach, many jewelry collectors believe that Watch & Wares is the best place to sell gold jewelry in Irvine and the rest of Orange County. We always strive to make our customers feel comfortable and informed throughout the jewelry selling process, and we will always offer you a fair value for your pieces. If you’d like to give us the chance to sell us your jewelry, call us today at (714) 731-9600 to learn more about our services or to schedule an appointment. We also welcome walk-ins!

Which Stones and Precious Metals Are the Most Valuable

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Whether you’re buying jewelry or selling it secondhand, the value of your piece will largely be dictated by whether it includes precious metal or gemstones. Luxury accessories almost always include precious metals and stones because they elevate the price of the piece and add to its rarity. While many consider gold and diamonds to be the most desirable materials to own in a jewelry piece, they’re actually oftentimes not the most expensive. We’ve compiled a list of some of the most valuable stones and precious metals on the market, so when you stop by Watch & Wares Tustin, you’ll know exactly why your piece is valued at its listed price.

Platinum

There are four precious metals used in jewelry: platinum, gold, silver, and palladium. Of the four, platinum is often the most expensive and definitely the most exclusive. It’s 30 times rarer than gold and used in a purer form. It’s the densest, strongest, and most non-corrosive of the precious metals, which makes it an ideal choice for those who want a low-maintenance metal whose beauty will stand the test of time.

Gold 

Because of its desirability, durability, and malleability, gold is the most popular precious metal option. It’s a traditional precious metal choice that has been coveted for thousands of years as both a jewelry base and a currency. Its value fluctuates daily and is measured by the purity of the gold used, with 24 karat gold being the most valuable with 100% gold.

Silver

Silver is the most popular jewelry base option after gold. Sterling silver is often considered the standard for high-quality silver jewelry since it’s over 90% pure silver. Silver is more affordable than gold, making it a great options for those on a budget, but its price is also much more volatile than gold. If you’re selling silver jewelry, be sure to monitor the market price before you sell to ensure you’re getting the best value possible for your piece.

Palladium

The fourth and least common precious metal option is palladium. Palladium is used to create white gold alloys in jewelry. It is combined with one or more other white metals such as nickel, platinum, manganese, zinc, or silver in order to create a stronger material than silver that replicates the same desirable silver color.

When it comes to gemstones in jewelry, many consumers value colorless diamonds for their classic appearance and high desirability. However, they’re far from the most valuable gemstone available. From colored diamonds to rare gemstones, here are some of the most valuable stones on the market.

Blue Diamond

The most expensive gemstone in the world is a diamond, but it’s not just any diamond. The ultra-rare blue diamond is valued at $3.93 million per carat. Blue diamonds consistently sell for millions of dollars at auction to some of the world’s top collectors. The world’s biggest blue diamond, – a 14.62-carat emerald-cut – was sold at auction for $57.5 million in 2016. While it’s not the most expensive jewel ever sold, it does take home the prize for the most valuable price per carat.

Jadeite

Jadeite comes in at a close second for most valuable at $3 million per carat. Jadeite is the purest, rarest, and most vivid form of jade in the world. Despite being known for its vibrant green color, jadeite can actually come in a variety of colors such as red, yellow, and black. Jadeite plays a significant role in Chinese culture, symbolizing prestige and status. 

Ruby

Ruby is one of the most sought-after gemstones due to its range of stand-out fiery red hues. The ruby is often referred to as the “King of Gemstones” and it’s become a symbol of passion and life due to its blood-like color. The most expensive ruby ever sold, a 26-carat stone named the Sunrise Ruby, was sold for $30 million in 2015, making it worth $1.18 million per carat.

Emerald

Emeralds, known for their unique green tones, are some of the most popular gemstones in the world. Most emeralds are found with flaws, so those that are found to not have any often fetch enormous figures at auction. The most expensive emerald per carat ever sold was the Rockefeller Emerald, an 18-carat gemstone that was sold for $5.5 million, or $305,000 per carat.

If you’re looking to buy or sell jewelry with precious metals or stones, stop by Watch & Wares Tustin for a free appraisal. We buy gold jewelry and offer jewelry loans if you’re not ready to part with your piece permanently. Our expert appraisers have years, if not decades, in the fine jewelry industry, and we consistently offer the most competitive rates in the area. To find out what the value of your gold jewelry is, stop by Watch & Wares today.

The Jewelry Loan Process with Watch & Wares

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If you need cash quickly for unexpected expenses and you have valuable jewelry that you’re able to trade, collateral loans can be a great option. With a collateral loan, you don’t need a credit check to qualify, and failing to repay doesn’t hurt your credit score. You can capitalize on the value of your valuable jewelry pieces without permanently losing them when you choose jewelry loans through Watch & Wares in Tustin. 

The Appraisal Process

In order to determine the value of the loan, we appraise your jewelry and estimate its approximate value on the secondhand market. Our expert gemologists will assess your pieces based on the precious metals and stones they contain as well as brand and condition.

If your jewelry contains diamonds, our gemologists will value each diamond in order to calculate the item’s worth. They will evaluate the cut, clarity, color, weight, and condition. When assessing color, we’ll assign each diamond a letter on the GIA color scale, with D being the whitest in color and Z being the most color tinted. Clarity will also be assessed according to GIA standards. After we’ve determined its clarity grade, we’ll weigh the diamonds in carats. This is arguably one of the most important factors since diamond prices are largely based on the weight of the diamond in carats. Once we’ve determined the value of a diamond in your weight bracket, we’ll assess the condition of the diamond and calculate the exact market value of the diamonds in your jewelry piece. We can then use this to offer you a fair and honest loan value for your diamond jewelry.

If you have gold jewelry to pawn, we calculate the value of your gold based on the weight in troy ounces, the purity in carats, and the current gold spot price. Once we’ve determined the weight and purity of your gold, we can apply a formula that calculates the exact value of the gold present in your jewelry piece. This will help us more accurately determine the value of the piece overall. 

Our Collateral Loan Terms

Once we’ve appraised your piece and established its approximate resale value, we’ll offer you a collateral loan for that amount. Should you choose to accept the loan terms, you’ll be issued a loan ticket clearly stating all of the terms so that the process is completely transparent. All of our loans are four-month terms with a generous ten-day grace period. Our interest rates are state-regulated, and paying back the full interest rate enables you to renew your loan if needed. We’ll hold on to your jewelry until you repay the loan within the agreed-upon timeframe. If you fail to pay back or renew your loan in time, we’ll keep your jewelry as repayment. This makes collateral loans a great option for those with poor credit or those who fear damaging their credit score, as failure to repay collateral loans will never affect your credit in any way. If you do repay your loan on time, then you can come collection your jewelry from our Tustin location at your earliest convenience.

Collateral loans are a wonderful tool to have if you need cash to last you until the next pay period. They allow you to cash in on the remarkable value of your fine jewelry pieces without having to permanently part with them. If you have diamond or gold jewelry that you would like to have evaluated for a loan, stop by our Tustin location today. Our expert team members have decades of experience in the fine jewelry industry and can quickly and accurately appraise your items with no hassle. We have served the Tustin and surrounding Orange County area for more than 25 years, so you can trust us to consistently offer fair loan values in a comfortable setting with exceptional customer service.

How is Gold Tested?

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Before approaching your local reseller or gold buyer with gold and jewelry wares, it’s important to know exactly how the value of your items will be calculated. Becoming a more informed buyer will prevent you from being ripped off by untrustworthy businesses and ensure that you get the best price for your items. While it’s hard to attain the same knowledge as an experienced gemologist or appraiser, this article will give you some insight into how gold is tested and valued on the resale market so that you can get the maximum cash for your gold.

Figures to Know

There are three figures you need to know in order to calculate the value of your gold accurately: the weight of the gold in troy ounces, the purity of the gold in karats, and the current gold spot price. The gold spot price is the price for one troy ounce of pure, 24-karat gold at that time. The spot price can vary day to day, and minute to minute.

Troy Ounces

Precious metals like gold are weighed in ounces. However, they are not weighed by the standard ounce (28.3 grams). Instead, they are weighed in a unit of mass used in the precious metals industry called the troy ounce. The troy ounce is equal to 31.1 grams, 9% more than a standard ounce. When weighing gold, it is essential that it is weighed as accurately as possible in order to get the best estimate of value. Our scales at Watch & Wares are certified by Orange County Field of Weight & Measure to ensure that all measurements are accurate to the industry standard.

Purity

Everyone’s heard the phrase 24-karat gold. But what exactly does that mean? 24-karat gold is the purest form of gold available on the market. Gold, especially in jewelry, is rarely 100% pure gold because it would be too soft to shape. Instead, it is often mixed with other metals such as zinc that result in a lower karat alloy more suitable for making jewelry. To calculate the purity of your gold for market value, first find out how many karats your piece is and divide that number by 24. If your item is 14-karat gold, for example, you would divide that number by 24 to get the figure 0.583. That means that your jewelry piece is 58.3% pure gold. The higher the percentage of gold in your item, the higher the value of your piece will be.

The Formula

Although gold jewelry and accessories will vary in price based on style, brand, condition, and a number of other factors, a formula can generally be used to calculate the price of the raw gold itself. This formula is (spot price / 31.1) x purity in decimals x weight of the item in grams. So, for example, if you had 1 gram of 14-karat gold, and the current spot price was $1300, you could calculate the value of that gold by doing the following calculation: (1300 / 31.1) x 0.583 x 1 = $24.37.

However, as stated, this value only applies to the gold itself, not the overall item or piece of jewelry. For full appraisals, visit a reputable jeweler or pawnbroker and have your item evaluated. Here at Watch & Wares, we always offer a fair and honest price to customers. Call us at (714) 633-2030 or come into one of our stores to get cash for your gold today!