Is The Samsung Galaxy S10 Something That Pawnshops Buy?

The Samsung Galaxy S10 is a highly desired version of the long running Samsung Galaxy S-series of cell phones.


But does that make it something that all pawn shops work with or are there just a few that make loans on the types of phones?

How 'Pawnable' Is This Item

What Value Does This Item Have

When it comes to cell phones overall, they have a bit of a rough road when it comes to pawn shops. Cell phones pose a high risk overall in the pawn industry due to their tendency to be stolen, so pawnbrokers often shy away from them, or pay lower amounts for them than people might otherwise expect.

In terms of pawnability, the Samsung Galaxy S10 comes in at a “Good” rating. Not all pawn shops take them, so it’s not going to get a particularly high rating, but overall, they are one of the more desirable cell phones out there.

In terms of value, like with most cell phone, the S10 is only going to score a “Poor” rating. Often times the pawnshop will pay for the “Bad ESN” value of the phone and not the full used value as there is no way to know if the phone is currently under lease or contact and may have it’s ESN blocked at a alter point in time. This means that more often than not, you’re probably not going to get what you think you should for a phone of this quality.


What To Bring With You:

When it comes to the Samsung S10, you definitely want to be sure that you bring the Samsung original cord and charger with you. The cord and charger that Samsung includes with their phones are often considered to be higher quality overall than replacement that you might find on eBay or Amazon. Because of that, they have a higher desirability and will help you get more money for your at a pawn shop when the time comes for that.

Statistics:

Percentage Of Pawn Shops That Accept This Item 60%
Percentage Of Pawn Shops That Consider This Item Desirable 40%
Average Redemption Rate For This Type Of Item 50%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 70%

The Samsung S10 scores pretty much as you would expect across the cell phone segment in these scores, with about 60% of pawn shops being able to accept them for loan or sale. This number is a bit higher in more urban areas where flagship cell phones are a more common commodity.

Of those pawn shops that do accept them, roughly 40% of pawn shops consider them to be desirable. The average redemption ratio for these are about 50/50 with half of people picking it up and the other half leaving it at the pawn shop to be resold.

Less than 10% of households have them overall, and of those that do, roughly 70% of people choose to just make a loan on their versus outright selling it.


What Are Some Advantages To Pawning This Type Of Item

Assuming you’ve already found a pawn shop that will accept cell phones, there’s some real advantages to using a Samsung S10 for a loan or as something to sell.

  • Most pawn shops will be very familiar with this line of phone and happy to take a look at it for consideration on a loan or as an outright sale, assuming that the phone is in good condition.
  • You should be able to get a reasonably high price for a phone like the S10, but of course, this will decrease as time goes on and the phone ages.

What Are Some Drawbacks To Pawning This Type Of Item

  • As with all cell phones, there’s going to be some hesitancy on the part of the pawn shop as cell phones are a very commonly stolen item.
  • If your cell phone has any kind of significant damage such as a scratches or cracked screen or back, you’re going to find that their offer is MUCH lower than you expect and depending on the damage, they may not take it at all.

Pawning or Selling Your Samsung S10 to a Pawn Shop

Your S10 should make a pretty good item to use for a loan or as something to sell to a pawn shop to cover an emergency expense. Just be aware, in most cases, a pawn shop will offer the “Bad ESN” value for your phone as they have no way of knowing if your phone is still under contract, what the terms of that contract are, if it’s leased, or worse yet, if it’s possibly a stolen phone.

Because of that, you may not get exactly what you expect out of it when you take it into a pawn shop, but this is rather unavoidable since there is no way of proving that it’s perfectly working and not under some sort of prior agreement.

Additionally, if your S10 has any kind of significant damage, then you will want to be understand of that upfront as repairs for the S10 are normally pretty expensive. Samsung phones don’t enjoy the same benefit that an iPhone does where you know the replacement cost of a screen upfront. With these, the pawn shop would have to figure out how much it would cost to fix after the fact, which they will weigh against the value of the phone when determining how much to offer you for it.