Do Pawn Shops Buy or Take The Samsung Galaxy S8 Cell Phone?

The Samsung Galaxy S8 was a refinement from the older S7 and people did love them.


But as the platform ages, is it still something that a lot of pawn shops are willing to look at for a pawn loan or as an outright sale?

How 'Pawnable' Is This Item

What Value Does This Item Have

The Samsung Galaxy S8 was released several years ago. Overall the platform has aged pretty well, but it has aged and there’s no denying that as cell phones get older, their value does go down significantly.

Because of this, the Samsung S8 only scores a “Fair” in terms of overall pawnability. It’s now an older cell phone and the demand for it has pretty well dried up. In addition, they can be expensive to repair when it is needed.

This is part of the reason that the value rating for this phone is a lower than expected “Very Poor.” Cell phones overall don’t get a great deal of their ‘Expected’ value when it comes to pawn shops because of how frequently they are stolen or have bad ESN numbers, but as a phone ages, those factors only become worse.


What To Bring With You:

The one thing that Samsung does really well is pack in high quality accessories with their phones. Because of that, it is really good advice to be sure that you take in the original Samsung charger and cord when you go to the pawn shop with your phone. They just work much better than many of the aftermarket replacements that you can find on Amazon, eBay, or the corner store.

Statistics:

Percentage Of Pawn Shops That Accept This Item 40%
Percentage Of Pawn Shops That Consider This Item Desirable 1%
Average Redemption Rate For This Type Of Item 30%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 10%

At this point in it’s life, the Samsung S8 has fallen pretty hard in these key ranking factors. Just 40% of pawn shops will still take in the older S8. Of those that do, only 1% of pawn shops consider them to be a desirable item.

The average redemption ration for a S8 is also pretty low, sitting around just 30%. In most cases, people have gotten a newer, better phone and don’t really care as much if they forfeit their older S8.

Only about 10% of households still have a phone this age that they are able to pawn and of those that do, most choose to just sell it at around 90%.


What Are Some Advantages To Pawning This Type Of Item

  • You likely have upgraded or are thinking about upgrading your cell phone at this point, so if you do sell your older Samsung S8 to a pawn shop, then you will be generating money out of something that you no longer use, which is a huge plus.

What Are Some Drawbacks To Pawning This Type Of Item

  • It may be difficult to find pawn shops that are very excited about taking in a phone this age at this point. Most will be looking for something newer.
  • As with most cell phones, you’re not going to get top used dollar for them. In most cases, a pawn shop can only pay you for the phone assuming that it either has or will soon have a bad ESN number. This is due to how phones are sold anymore, usually under a long term lease agreement or financing where the carrier locks the ESN should the terms of the contract not be fulfilled.

Pawning or Selling Your Samsung Galaxy S8 To A Pawnshop

This is going to be one of those items that as it ages, fewer and fewer pawn shops are going to be very interested in dealing with that. This is only compounded by the fact that many pawn shops don’t deal with cell phones as it is due to their tendency to be stolen or have bad ESN’s from contracts that were cancelled early.

If you do take your older Samsung Galaxy S8 to a pawn shop, be sure that it is clean and in good condition. Make sure that you have all of the accessories with you, and try to locate the ORIGINAL Samsung cord and charger before you resort to taking aftermarket replacements. They will only help your cause when trying to negotiate for the best offer possible.

as bare in mind that if your cell phone has a scratched or cracked screen, even if it still works, a pawn shop is really going to take that into consideration when determining how much to offer you. Replacing screens on the S8 is not cheap. The same goes if there is damage to the rear or corners of the phone as well.