Cell phones are one of those things that really don’t age well at all.
They normally don’t hold their value to speak of. The Samsung Galaxy S5, S6, and S7 are no exception. These phones were great in their times, but are they still something relevant to pawn or sell at a pawn shop?
How 'Pawnable' Is This Item
What Value Does This Item Have
This won’t come as a surprise to many, but typically speaking, older phones like the Samsung S5, S6, and S7 just aren’t very valuable to many pawn shops. They are beyond their prime as far as being considered a truly flagship device. Their storage and processors are far out of date. The version of the Android operating system that they use is far from relevant.
With this in mind, it’s no real surprise that these older Samsung cell phones score “Very Poor” in terms of both pawnability and value.
Cell phones are a hard sell for most pawn shops anyways. They are often stolen or have bad ESN numbers due to not being paid off fully or having the terms of the contracts they were on violated in some way. Add to that the fact that these cell phones are older models, and you might begin to understand why pawn shops aren’t overly excited when they see them come through their doors.
What To Bring With You:
If you do happen to take one of these older cell phones into a pawn shop to see what they have to say about it, be sure that you take the original Samsung power cord and charger with you if you still have it. These original Samsung parts are much higher quality than the aftermarket replacements you find out there and make the phones at least a little more desirable.
Percentage Of Pawn Shops That Accept This Item 1%
Percentage Of Pawn Shops That Consider This Item Desirable 1%
Average Redemption Rate For This Type Of Item 10%
Percentage of Households That Have This Type Of Item 30%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 10%
These scores shouldn’t surprise you at this point. Only 1% of pawn shops will still consider taking in phones this age. Likewise, only 1% of pawn shops would consider them at all desirable.
The average redemption ratio for them is exceptionally low as most people have absolutely no need for a device this old any more.
Roughly 30% of households still have an old Samsung device this age that they could try to get some money for, but when they do take it in, most people choose to sell it versus pawning it. This is in part due to the fact that they have a very low value at most pawn shops and there’s really nothing at a pawn shop can do to help you with them except buy them for whatever they can. It just doesn’t make sense to make a loan on these phones at this point.
What Are Some Advantages To Pawning This Type Of Item
- If you do manage to find a pawn shop to accept these older phones, then you are generating money out of something that would have otherwise just sat around.
What Are Some Drawbacks To Pawning This Type Of Item
- It can be exceptionally difficult to find a pawn shop that will still accept cell phones that are this old as there is no real desire or consumer demand for them. This is even more true if the phone is at all damaged.
Pawning or Selling Your Samsung S5, S6, or S7 At A Pawn Shop
Time ticks on and as it does, old electronics are often left in the dust. This is exceptionally true for older Samsung cell phones.
As a word of caution, if your older S5, S6, or S& has any damage, particularly something as bad as a cracked screen or even heavy scratches, the odds of a pawn shop making your phone really do drop considerably, and they may not deal with it at all.
On something like this, you might be better off trying to sell it on the Facebook Marketplace or Craigslist for whatever you can get out of it.
Wordpress junkie, music lover, and consumer of all things pizza-oriented. I’ve run pawn shops and check cashing operations for years. I developed the most successful digital marketing marketing strategy for pawn shops known to date, and flip items on eBay for fun.