Pawn your luxury watch with Qollateral for the...
How to Pawn an Engagement Ring: A Step-by-Step Guide

Engagement rings are difficult to part with because they hold immense sentimental value. They are also often among the most valuable items in many peoples’ jewelry boxes. In unexpected financial situations, such as medical or business expenses, it can be tempting to sell them.
Did you know you can use your engagement ring to get the cash you need while retaining ownership? It’s called a collateral loan, and it works by using your engagement ring as security for a short-term loan. You’ll get instant access to cash while your ring stays secure in a high-tech vault in one of the safest buildings in America. Please read on to find out how to pawn an engagement ring.
Ready to pawn your engagement ring? Book a free appraisal today and secure the best loan offer!
Step 1: Understand the Value of Your Engagement Ring Before Pawning
It’s smart to determine how much your engagement ring is worth before securing a jewelry loan. You don’t have to be a jewelry or diamond expert, either. You just need a general idea of what influences diamond ring values:
- Materials: Precious metals, such as gold and platinum, add value.
- Brand: Brand recognition also plays a part in engagement ring value, particularly recognizable brands with exclusive designs or a high level of prestige.
- The Four C’s: The Gemological Institute of America created the Four C’s method, which many appraisers use to establish diamond value. The four C’s are color, clarity, cut, and carat:
- Color: Color rating is based on the lack of color in the diamond. It ranges from D to Z, with D representing colorless stones.
- Clarity: Clarity is based on the diamond’s number of surface blemishes or internal inclusions, ranging from flawless to included.
- Cut: Rated from excellent to poor. The cut, not to be confused with the shape of a diamond, refers to the facets of the stone and its overall brilliance.
- Carat: Carat distinguishes how much a diamond weighs.
Still unsure how much your diamond might be worth? Our team of diamond appraisers can help you determine its value with a free, no-obligation quote. Book an appointment or call/text us at 212-287-5257 to get started.
Step 2: Preparing Your Ring to Pawn for Maximum Value
Clean your diamond ring before the appraisal, either at home using mild soap, warm water, and a soft brush or at your local jeweler. Documentation associated with the ring, such as the original sales receipt and accompanying certificates, is also helpful, as it might help authenticate the ring. If you have them handy, bring them with you to the appraisal.
Step 3: Where to Pawn a Ring in NYC
Finding the right lender is also important. One of the most trusted lending firms on the secondary market is Qollateral. We are committed to helping customers secure the funding they need with the highest loan-to-value ratios on the market. Pawn shops can’t compete.
What You Can Expect When Pawning an Engagement Ring at Qollateral
You’ve done your due diligence and have decided to trust Qollateral with your prized engagement ring. What is the next step?
How to pawn a ring:
- Schedule an appointment for an engagement ring appraisal
- Receive a loan offer
- Sign the loan terms
- We will store your assets in a monitored vault in NYC’s International Gem Tower
- Receive your cash loan
- Repay the loan within the loan terms
- Reclaim your engagement ring
We want you to keep ownership of your valuable and sentimental assets. That is why we prioritize transparency in the lending process with a clear loan agreement that details everything you can expect from the loan. There is no pressure to commit, and the entire process is completely confidential and secure.
Qollateral is the best place to pawn a ring because we make securing a loan simple and safe. We are highly rated by customers and are committed to helping you get the best offers on engagement ring loans.
Contact our team today to discuss your options and arrange a complimentary engagement ring appraisal.
Content Disclaimer
The content provided by Qollateral, LLC is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Qollateral, LLC or any third party service provider to buy or sell any commodities, securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. Qollateral, LLC is not an attorney, accountant or financial advisor, nor is it holding itself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
All content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. Qollateral, LLC is not a fiduciary by virtue of any person’s use of or access to the Site or any content contained therein. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on the Site before making any decisions based on such information or other content. In exchange for using the Site, you agree not to hold Qollateral, LLC, its affiliates or any third party service provider liable for any possible claim for damages arising from any decision you make based on information or other content made available to you through the Site.
Recommended Resources
Learn how to pawn an engagement ring with...
Need quick cash? Learn how to borrow against...

Unlock The Equity
In Your Assets.
Maximize your financial potential by
unlocking the equity in your assets.