If you’re considering the best place to sell your hoverboard, look no further than pawn shops. While the prices are usually not so hefty, you can be sure you’re at least getting something out of your used hoverboard.
Averagely, used hoverboards cost $140. The price could range from anywhere around $100 to $200, depending on the speed, range, features, etc.
How much do pawn shops pay for a hoverboard?
Generally, pawn shops pay 50% of the hoverboard’s current market value. So, for a basic hoverboard such as a used Swatgron T5, valued at $120 you can expect up to $60 at a pawn shop.
However, this amount may still vary depending on what features, offroad capabilities, top speed, neatness, durability, and demand for the product.
The harsh reality, however, is pawn shops put their profit before yours, so might not get paid as much as you expect. This is especially true if you’re selling a used hoverboard.
Another key determinant in this pricing is the type of hoverboard you want to pawn, functionalities, etc.
What hoverboard get the most money
Pawn shops prioritize Brand new hoverboards. So, if you’re selling a new high-end hoverboard such as the $600 Ekipgo, you can still get up to $300 from the sale.
You’ll also typically get more for an all-terrain hoverboard with a fully functional gyroscope and other components. Lastly, you can also get more if you’re selling recognized brands like Halo or Swatgron.
How do pawn shops determine prices on hoverboards?
Generally, pawn shops make an estimate of the current market value of the hoverboard. They do this by assessing its condition and market demand.
Especially, since the price of a hoverboard is volatile and unstable, volatility becomes a key consideration in determining prices. They consider the wholesale value and prices of other online alternatives.
Insights from these sources are then used to determine how volatile the market is and what price range will cater to that accordingly.
Besides, age and condition are very important considerations. Generally, pawn shops will rate your hoverboard higher if it’s still less than two years.
So, the newer the product, the higher the current market valuation. And consequently, the higher the estimated market value and pawning price.
If your hoverboard still has its complete box, that’s definitely a plus. Things like chargers, functional Bluetooth, etc, may as well maximize the potential pricing.
Also, the likelihood for the hoverboard to be redeemed will as well be considered when setting the market value. Remember, they then typically divide this value into 2 to determine how much they will pay you.
How to Sell Your Hoverboard Higher
To sell at a higher price, be sure to take enough time to negotiate your deal. Showing some confidence in the integrity of your hoverboard also helps sometimes.
All in all, make sure it’s not too old and if you can, bring along the complete package. Also, try to ensure that the pawn shop environment has a decent population of hoverboard enthusiasts.
Another important thing is never to bring the hoverboard dirty. Try as much as possible to clean it before bringing it to the pawn shop. Anyone would naturally pay less for what they’ll have to clean before selling.
Always remember that the pawnshop is also there to make a profit and the prices can be quite depressing sometimes. In this case, don’t be rude to them, it’ll only take a toll on the expected price.
Lastly, never be shy to ask for more. Pawn shops usually offer a little bit lesser than their actual intended pay. So, always be ready to politely counter the offer.
By doing this, you can always get up to 15% on top of the proposed amount.
Difference between pawning and selling a hoverboard
If you want to use your hoverboard as loan collateral at a pawn shop, the price is relatively lower than selling. Typically, you should get an average of $60 if you’re pawning your hoverboard.
Conversely, you can get up to $100 if you’re selling your hoverboard outrightly to a pawn shop. However, remember that this valuation banks heavily on a number of considerations as mentioned earlier.
Ultimately, both options are reasonable depending on your situation. So, the question you should ask yourself now is whether or not you want to part with your valuable hoverboard.
If no, then pawning it may fit your bill. With this, you still have your hoverboard, which you can always use to secure another loan once you’ve repaid the current one.
But if you don’t mind parting ways with your hoverboard, selling it outrightly is your best bet. Like this, you won’t have to worry about repaying any loan. It will also leave you with an extra cast instantly.
Online Selling Value of Hoverboards
Needless to say, eCommerce has grown to be a force, especially when it comes to selling used products such as the hoverboard. Similarly, the prices of hoverboards in online stores rely on a few considerations, almost synonymous with pawn shops.
The table below highlights the average price of a few used hoverboards, considering their market value and how much they are sold as pre-owned in online stores.
|Online store||Brand new price||Online store price|
Each marketplace has different prices for various hoverboards. However, one thing is uniform – their prices generally revolve around the 50% margin.
As mentioned earlier, this is also what a pawn shop offers to buy your hoverboard. Hence, in terms of selling value, there is not much difference between selling your product online or using an online marketplace.
In fact, you can access this money relatively faster in a pawn shop than you can in an online store. So, in terms of flexibility, the pawn store edges these marketplaces by a mile.
Similarly, remember that some of these stores feature some charges that may as well hurt your ultimate profitability. But with a pawn shop, you can rid yourself of this concern.
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.