Gems & Jewellery News

Million Pound Pawn viewers slam experts for ‘mugging off’ guests – but who’s in the wrong?


MILLION Pound Pawn viewers called out experts for “mugging off” their guests on Thursday’s episode.

Guest Norma brought along a tanzanite diamond ring she purchased for £4,250 from a jewellery shopping channel.

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Guest Norma brought along a tanzanite diamond ringCredit: ITV
The ring was purchased for £4,250 from a shopping channel

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The ring was purchased for £4,250 from a shopping channelCredit: ITV

Pawnbroker Kathy was immediately interested in the item, branding the stones “beautiful”.

Norma explained that she used to work for the VIP lounge at British Midland airlines, where she looked after a number of celebrities and royalty.

Seeing famous people wearing expensive jewellery ignited Norma’s passion for collecting gems.

Interested to know why she was selling the ring, Kathy asked if she had fallen out of love with it.

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Norma replied: “No, I love the ring.

“I’m actually terminally ill. So, I’m kind of putting my affairs in order and trying to release some money back on it to put into the kids’ bank accounts.”

Kathy became teary-eyed hearing Norma’s emotional story and remarked: “You don’t look terminally ill.”

The guest replied: “I know, I look really well for somebody who is dying.”

Speaking to the camera, Norma said: “I have blood and bone marrow cancer called Myeloma.

“They told me five years. Five years is now. But when you’re in my situation you have to face up to a few things and I don’t know how long I’ve got left.”

Later in the episode, Kathy told Norma the ring had been valued at £2,800.

Kathy explained there was no longer a huge demand for the gem, leaving Norma reluctant to sell.

However, the pawnbroker offered to put the ring in the shop window for £6,000.

“We do this for nice rings that we don’t have a lot at the moment, If we market it at £6,000, we might end up selling it for £5,500,”Kathy told Norma.

But the gem expert explained there would be no extra charge but there would be a 20 per cent commission if the ring sold.

“We take a 20 per cent commission and we could return you £4,400,” Kathy added.

However, ITV viewers were not convinced about the added commission.

While other viewers were stunned that Kathy had increased the price to £6,000, when it was only valued at £2,800.

One angry viewer wrote: “We don’t charge for putting your ring in our window for £6k, but if it sells we charge a commission of 20%. The ring is only worth £2800 but we could put it in our window for £6k. I’m not sure who is getting mugged off more. #MillionPoundPawn”

Another posted: “Pawn broking looks like a bunch of chancers having a go and making it up as they go along, am sure there are some genuine business’s out there but jeez I would these lot with a thimble of my Gran. #millionpoundpawn”

A third echoed: “Doesn’t charge interest my arse. Yes she does. She just dresses it up and describes it as a buy back price. Who is she trying to fool. Yawn #MillionPoundPawn”

Another chimed in: “Pawnbrokers need to work at competitive margins – they just wanted to sell a ring they gave £2000 for, at £6000. #millionpoundpawn”

“Big mark-ups on jewellery…we’re in the wrong game Andy” another hilariously posted.

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Someone else tweeted: “‘We don’t charge a fee for selling the ring’. Technically no, you don’t but on the other hand, you’ll rinse your client for 20% if you flog it.”

At the end of the episode, they updated viewers on Noma’s ring, saying the item was still for sale and Kathy was confident she would find a buyer.

Terminally ill Norma said she was selling the ring to raise money for her kids'

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Terminally ill Norma said she was selling the ring to raise money for her kids’Credit: ITV
Kathy said she'd try to sell the ring for £6,000, when it was only valued at £2,800

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Kathy said she’d try to sell the ring for £6,000, when it was only valued at £2,800Credit: ITV

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