Before you sell your platinum watch or diamond jewelry, there are a few things to consider first. First, platinum is a precious metal high in value and the perfect collateral for platinum loans. Though news reports, television ads, walking sign men and other advertising mediums suggest selling platinum for cash, there is a much better way to use your Platinum Rolex or diamond earrings than selling a watch or jewelry outright.
Another important factor to think about before letting go of one of your most prized possessions is to learn the current value of platinum. Also take into account that if you take your watch or jewelry to a traditional pawn shop, they are typically going to try to purchase platinum from you for significantly less than fair value. Should you decide to pledge your asset for a loan with the same pawn store, most will charge as much as 25% interest per month and will not allow payments towards the principal.