Things don’t always go well for our sports heroes off of the field, court, or diamond. There have been many, many athletes who have found themselves in difficult financial situations after (or sometimes during) their sporting careers. When these players hit rock bottom, they may choose to solve their economic woes by cashing in on their former glory by selling the jewelry they worked so hard to earn.
Although the majority of athletes who elect to sell their jewelry for some quick cash prefer to remain anonymous, there are some who have publicly given up their wearable trophies.
Brock Williams, a former Patriots cornerback, gave up his Super Bowl XXXVI ring as collateral for a $2,600 loan in Las Vegas, which he never repaid. Now this invaluable memento appears in the beginning images of the popular show Pawn Stars.
Former Mets and Phillies center fielder Lenny Dykstra pawned his 1986 World Series ring after filing for bankruptcy in 2009.
Mounting medical bills may well have been the reason William “Refrigerator” Perry parted with his Super Bowl XX ring (although the ring was later returned to him by a 10-year-old boy who had spent $8,500 of his college savings to acquire it).
Sports stars don’t hand over their hard-earned honors on a whim. Whether the result of bad decisions or bad luck, no one is immune from the possibility of money problems. When the going gets that tough, though, everyone wants the most money that they can get for the sacrifices they make.
Pawn stores are not the way to get it.
Hocking one’s valuables at the corner pawnshop may seem the quickest and easiest way to get needed funds, but there are alternatives that yield much higher returns with a turnaround nearly as quick. One such alternative is recycling jewelry online.
Lesley Lew, Head of Valuation at WP Diamonds, describes the process of finding the value of a piece of jewelry. “Here at WP Diamonds, our valuers use their expertise to assess each component part of a piece of jewelry. In an item of jewelry we will look at every single diamond. Diamonds are unique so we inspect each diamond individually to enable us to offer the most accurate price. We then look at the precious metal as there can be a lot of value in the precious metal content of a jewelry item. As precious metal prices change daily we will make the offer based on the price of the metal on the day of valuation. We will also assess other gemstones included in the jewelry when necessary. By breaking down each piece very specifically like this we are then able to offer the most up to date competitive price in the market place.”
If you find yourself against the ropes and need to part with your treasure, remember the mistakes of so many sports idols. Slide past the pawnshop and go for the biggest possible score with an online game plan.