A pawn shop is famous for buying various items, including iPhones. You can easily give your iPhone 12 as collateral to a pawnbroker or sell it to the store.
The average resale price of a used iPhone 12 is about $396.60. However, depending on the condition and other factors, you may get a higher figure.
If you want to know more about how much pawn shops pay for iPhone 12, this post will help you.
How Much Do Pawn Shops Pay For iPhone 12?
On average, pawn shops will likely pay you $467 for an iPhone 12 in good condition. A 64 GB used model has a starting resale price of $382. The price can rise as high as $539 for an iPhone 12 with 256 GB of storage. If you pawn your iPhone instead of selling it, you will get significantly less money.
You will also encounter iPhone 12 Mini models on the market. Both phones were released in 2020. They are still being made by Apple and sold at various stores.
Apple also sold some pieces of iPhone 12 Pro and 12 Pro Max. However, the brand discontinued them soon to enable more customers to buy the same versions of the iPhone 13.
|iPhone 12 Mini||$312.00|
It is best to know which iPhone 12 will get you the most money at a pawn shop. This will allow you to get the best sum from the pawnbroker.
What iPhone 12 Get The Most Money At Pawn Shops?
iPhone 12 in all conditions will get you more money than iPhone 12 Mini. This is because the former is bigger and has better battery life. So every broker will offer you more for your iPhone 12.
|Model||Mint Condition||Good Condition||Poor Condition|
|iPhone 12 Mini||$385||$355||$255|
A relatively new piece will also help you get a better sum than a used iPhone 12. You will get a closer figure to the original sale price if you sell a brand-new iPhone 12 or 12 Mini to a pawn shop.
The average resale price of a used iPhone 12 Mini is $312. Meanwhile, the average cost of an iPhone 12 in the same condition is $396.
Pawn shops use various factors to determine the prices of iPhone 12. Understanding them will help you get a better value for your used or new device.
How Do Pawn Shops Determine Prices On iPhone 12?
The top thing a pawnbroker will consider is the make and model of the phone. The condition of the device also matters when determining the starting price. The storage space of the iPhone also affects your phone’s worth.
Make And Model
iPhone 12 Mini and 12 were released in 2020 to offer customers a new series. The make and model matter because you will get a better price for recent devices than older iPhones.
This is because every time a new iPhone is released, the original value of the earlier models decreases. So a pawnbroker will offer you even lesser money for your iPhone.
The storage space of each phone determines the market value of new iPhones. You will have to pay higher for the same model with greater storage space.
For instance, a 64 GB iPhone 12 has a resale price of $382, while the amount for the same phone in 128 GB is $448. This is why you must know your device’s storage space to sell it at a reasonable price.
The phone’s condition also matters because it determines the pawnbroker’s ease of selling and repair costs. The owner will not have to make much effort to sell the phone if it is in a mint condition.
You must also ensure the device does not have scratches or dents. It is best to eliminate these issues before visiting the pawnbroker.
This will help you sell the iPhone 12 at a better price. You should also understand the market position of the model.
The market position is integral because it determines the ease of selling. A pawnbroker can easily sell the device if it is trending and in circulation.
Apple has discontinued iPhone 12 Pro and the 12 Pro Max. So selling these models may be difficult for the pawnbroker. That is why most refrain from buying these devices.
However, iPhone 12 Mini and 12 are still circulating, making it easier to sell them to customers. The market value also affects the price because no pawnbroker will offer a greater price than the actual worth.
This is another factor that overlaps with the phone’s condition. You should ensure the device does not have technical problems such as battery issues.
Remember, the pawnbroker can check battery health by visiting the settings. You must also ensure the phone’s camera is working perfectly.
Most people only buy iPhones for the excellent camera quality. So this part must not be damaged.
A faulty iPhone has an average resale price of $157. You should also understand the price difference between pawning and selling iPhones.
Difference Between Pawning And Selling iPhone 12 To A Pawn Shop
There is a significant price difference between pawning and selling iPhone 12. You will be lucky to get about $300 for your device when pawning it. Meanwhile, you can easily sell your iPhone 12 for up to $600 at a pawn shop.
The big price difference is because you can get back your iPhone 12 after pawning it. This is because the pawnbroker will take the device as collateral for giving you a loan.
Selling Value Of iPhone 12 Between Pawn Shop And Online Marketplaces
You may get a better price for your iPhone 12 by selling it online. This is because you can set the listing price on the platform, unlike at pawn shops, where the broker determines the cost.
|iPhone 12 Mini||eBay||$487.50|
|iPhone 12 Mini||Amazon||$502.63|
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.