FAQ

General Faqs

Why are your retail prices so low?

We have a lot of merchandise in stock, in-house, so we can afford to lower our profit margins to give you the best deal.

If I don’t know anything about diamonds, how do I know they are real?

We sell all our diamonds with their own unique certificate from one of the  international laboratories recognized around the world.

Do you offer financing if I want to buy something out of my price range?

Yes, we offer financing in-house, so if you cannot afford a wedding ring, for example, we can get you financing for your purchase.

How secure is your store?

Our store is very private and secure. We have a state of the art security system in place. All your personal information and items are stored securely as per state regulations.

Do I need an appointment?

No appointments are necessary for all transactions unless you would like an appraisal.

How do I know Velasquez Jewelers is not one of those fly-by-night companies?

Velasquez Jewelers is an established jewelry store with a record of more than 300,000 transactions with satisfied and repeat customers in the Washington Metropolitan area for several years and we are licensed with Loudoun County and the State of Virginia. We also have an A+ Rating with the BBB.

Gold Buying Faqs

How much is gold worth and how much will you pay?

The price of precious metals (gold, silver, platinum, palladium and rhodium) varies on a daily basis. We pay you according to the weight of each item and give you the cash value based on the second hand gold ‘spot price’ of the day.

What items do you buy?

We buy gold jewelry, gold bars, silverware, silver bars, platinum coins, estate jewelry and all types of old or new gold jewelry. See our “How it Works” page for a full list.

Why should I sell gold to Velasquez Jewelers instead of someone else?

The truth of the matter is every transaction is crystal clear because we do testing and evaluation in front of our clients. Also our payments are extremely fair and accurate. Most clients will agree that we pay the highest amount based on the karat weight more than any other place in the Metropolitan area. Our goal is to make you a lifetime client, so we are not out to do a one-time deal. We are professional gold buyers and our team consists of goldsmiths and professional jewelers (not only regular buyers.)

How do I sell you my gold?

Stop by our local store. Get an exact quote in less than 10 minutes. Walk out with extra CASH! Watch our video on our “How it Works” page.

Can I ship my gold?

No, we only do business person to person.

How will you pay me, and how soon?

For all transactions we pay cash on the spot unless you request a check.

Gold Loans Faqs

What do I need to apply?
For gold loans: All you need is a valid ID and your personal valuables (gold jewelry, silver, platinum, gold coins…see full list).

For car title loans: A valid ID, your car title, a copy of your car insurance policy, a set of extra car keys, and your vehicle for a quick check.

How safe is it to keep my valuables with you?
Extremely safe since we hold all your valuables in a safe and it only becomes our property if you default on the loan. Also your jewelry is insured and untouched while they are in our possession.
How much is the interest rate?
For gold loans: You will pay a 5% monthly interest of the total loan amount plus a 1% storage fee every month.

For car title loans: 5% monthly interest + principal. There is a one-time US$20 DMV fee.

Can the interest rate rise?
No. We take pride in being transparent and keeping our word with our clients that we will give you the lowest interest rate in the area.
Do you remind me to make payments?
No. It is your sole responsibility to make timely payments as per the contract.
What happens if I pay late?
If you pay within 15 days of the due date, you will have to pay a 1 .5% late fee in addition to the monthly payment. If you do not pay for more than 15 days, you will lose the property you loaned against.
Can I renew my loan?
Yes, gold loans are renewable every month as long as you continue making the regular monthly interest payments. Car title loans last up to one year.
Are there any hidden fees?
No, all the fees are mentioned in the one-page contract signed at the time the loan is made. A Spanish version is also available at the store.
Why do we pay a storage fee?
That fee guarantees the secure storage of your valuables as we have a high insurance premium to cover the costs in case of losses.
Do I need to leave my car with you if I have a title loan?
No, you can still use your car, but we have rights of possession if you default on the loan.
Where can I get cash for my car?
For now only our VA Gold Buyers store location (21580 Atlantic Blvd. #120 Sterling, Virginia 20166) does loans against your car.

Any questions?

Call us today! 703-444-7804 or 703-421-8222