The Xbox 360 console was a huge deal when it was released, but is it still something that pawn shops really deal with anymore?
Well, the Xbox 360 is in a weird point in it’s life cycle. Some people still have some interest in them, but not many.
How 'Pawnable' Is This Item
What Value Does This Item Have
When it comes to the overall pawnability of the Xbox 360, it comes in at a “Poor” rating. Having been released in 2005, it’s just an old system. Unfortunately, it’s not old enough to be considered truly collectible in any meaningful way yet either. What you end up with is a reduced level of demand, and therefore, lower interest from pawn shops in them.
Of course, with that lower interest in them brings lower than often expected values. You are probably looking at under $20 for a Xbox 360 at this point, no matter what generation it is, or how much storage it has. The fact is at this point in time, there’s no real interest in the games you can play on it and therefore, nobody wants to pay big money for one.
What To Bring With You:
Because a Xbox 360 has lower than ideal pawnability, you will want to be sure that you have everything you could possibly need with you when you take your system into a pawn shop.
- Be sure that you have the power block and cord with you.
- Be sure that you have the right A/V cables with you.
- Be sure that you have a controller with you that works properly and has batteries. If your controller uses a rechargeable battery, make sure that you have the charger with you. It’s not as important, but original Microsoft controllers are always more desirable than an aftermarket controller.
- Always make sure that you have at least one game with you so that you can demonstrate that the system works. It’s probably best to take all of your Xbox 360 games with you in the hopes that you get a little more for the system than you would otherwise once you add in the games.
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 10%
Percentage of Households That Have This Type Of Item 30%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 30%
Only roughly 40% of pawn shops will consider a Xbox 360 either for a loan or an outright sale. They just don’t have the kind of interest in them that they once may have. Of those that take them, only 1% of them consider a Xbox 360 to be really desirable.
The redemption rate of an older game system like a Xbox 360 is pretty low at this point, coming in at just 10-20% at most. Part of this is due to the low values that the systems fetch. Part is due to the fact that most people haven’t played these games for 10-15 years and don’t have a huge interest in doing so anytime in the near future.
Lastly, only about 30% of households have a system this age that they can pawn or sell, and of those that due, roughly 30% choose to pawn it versus selling it. This is in part driven by the fact that many pawn shops have just stopped taking this system in for loan and if anything, only buy them outright at this point.
What Are Some Advantages To Pawning This Type Of Item
- Typically speaking, most people don’t use or play their Xbox 360s anymore so if you do manage to make a loan on it, chances are, you won’t miss it.
- Depending on the size of your game collection, you may be surprised and find out that you can still get a decent amount for it. Be warned though, you will have to have quite a few games to make that a reality though as in general, they aren’t often considered a hot commodity these days.
What Are Some Drawbacks To Pawning This Type Of Item
- It may be tougher to find a pawn shop that really want to handle them regularly at this point due to their age and lack of interest in the system.
- When you do find a pawn shop that will take one, you will often find that the amount of money that they offer you for yours is much lower than anticipated.
Pawning Your Xbox 360
As covered, these systems aren’t generally considered highly sought after, so you may find it to be a bit of a challenge to actually make a loan on one. When you do, don’t expect to make a ton of money on it. Typically you are looking well under $20-$25 for one, and probably much less.
Selling Your Xbox 360 to a Pawn Shop
If you want to sell your Xbox 360 to a pawn shop, just be sure that you have everything you could possibly need with you before you leave for the pawn shop. They will want to test the system and make sure it works as intended, so having is important. If you are missing anything that a pawn shop might need to resell your system, there’s a good chance that they won’t take it in as the risk of the system being bad is just too high at this point due to it’s age.
To seriously strengthen your position when trying to sell your Xbox 360 to a pawn shop, be sure that you have all of your games and accessories with you.
If your game library is significant enough, you will often find that the pawnbroker gives you some additionally value and consideration for them.
Should you happen to have a “Complete” Xbox 360 collection, then you’ll want to be sure to tell the pawnbroker as that suddenly becomes a completely different scenario than just a Xbox 360 with a lot of games.
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.