Naturally, the first thing that comes to mind when we hear of a pawnshop is a jewelry and since laptops have become more popular than desktop computers in recent years, it’s common to find a computer monitor that’s not in use in many homes.
Electronics and devices such as computer monitors are also common items pawn shops buy. The average price for a used computer monitor online ranges from $200 to $300.
If you have a computer monitor you would like to sell or pawn, here’s what you should expect.
How Much Do Pawn Shops Pay For Computer Monitors?
Pawn shops will likely pay 30% to 50% for a used computer monitor based on the brand and condition. For example, if a brand new Samsung Monitor is $684, an open box one is $569, and a pre-owned one is $449, you can expect to get around $225 for it at a pawn shop.
The amount of money you can make from pawning computer monitors is dependent on several factors which may include, the current market price for the monitor, the pawnshop, the availability of that products, and so on.
Some of the most common factors that could affect how much you can sell computer monitors in pawnshops include:
- The pawnshop.
- The current market price.
- The brand of the computer monitor.
- The condition of the computer monitor.
- The current market price.
On average, pawnbrokers pay between 10% and 20% of the current market price for an item. However, brokers may still pay a bit less than the average price for a monitor.
Some computer monitors are more popular in pawn shops than others. Pawnbrokers have to sell off your item if you don’t pay back the loan on time, so they naturally go for brands that are still relevant in the market.
The amount of money you can get will also depend on the brand or model of your monitor since certain brands are more expensive and more relevant in the market. Monitors like Dell, Acer, HP, Samsung, Asus, and LG have higher demand.
Older models won’t have the same price as newer ones. This doesn’t mean that you can’t get a fair price for an older model.
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Pawnbrokers pay more for monitors that are in good condition. Check your device for dents, bruises, or any other damage before taking it to the pawn shop.
Even though you can get money for your old, worn-out monitor, a clean one will get you the best offer.
Pawning Vs. Selling PC Monitors
Pawning your monitor means putting it down as collateral for a loan or you can sell it outright. Whichever way, you are getting money for it.
Pawning your monitor simply means you’re putting it down as collateral for a loan; an amount that the broker will decide on after assessing your item and determining its value.
After the pawnbroker determines the value of your monitor, you will get a loan, which you are expected to pay off with interest. Your device will be kept in the pawn shop until you pay back what you owe, including interest.
The advantage of pawning is that you can get some cash to service an urgent need, pay off your debt, and retrieve your device, in case it has sentimental value.
However, if you don’t do this on time, the pawnbroker can sell your monitor.
Pawning your monitor for a loan isn’t the only option. You can also sell your monitor at a pawn shop if you no longer need it.
Selling an item to a pawnbroker is usually more profitable than pawning it. But, you can’t get your item back unless you buy it back.
Also, if you decide to sell your monitor, the pawnbroker will have more control during the transaction. You will not get the total value of your item because the broker needs to make a profit from reselling your item.
How to Sell Your Monitor for a Higher Price
There are certain things you need to know when pawning your computer monitor, and things you can do to get more money. If you don’t know the value of the item you are selling, you may not be able to get more money for it.
To get paid more money for your used computer monitor, here are things you need to do.
- Make sure the computer monitor is working: If your computer monitor isn’t working, it may not hold any significant value. You have to make sure it’s working and in perfect condition.
- Clean the computer monitor: A clean item shows that it’s well cared for. Clean items first before selling them at a pawnshop.
- Be aware of the market price: You should check Facebook marketplace, eBay, and Craigslist for similar items.
Other helpful tips.
- You should have an ID, it would be required to pawn your computer monitor.
- The fewer repairs the monitor needs, the better.
Thomas Boseman is the author of Pawnbroking.com. A pawn shop owner by day, blog writer by night. When not writing, he enjoys exploring the outdoors with his dog, Roman. Thomas received his bachelor of arts in film from the University of Arizona. A Brooklyn native, Thomas is a lover of filmmaking, motorcycle, and coffee.