Apple is one of the leading companies that produce unique and innovative devices. Be it the iOS software or the accessories, and you wouldn’t find such quality products designed by any other company. iPhone 7 series is one of the most popular due to its functionality.
The average price for iPhone 7 and 7 plus is around $200, depending on the condition. Pawn shops are very helpful in selling used iPhones as Apple doesn’t buy used phones.
If you want to know how much pawn shops pay for iPhone 7 and 7 plus, keep reading. We have discussed everything in detail to provide you with all the insights you were looking for.
How Much Do Pawn Shops Pay for iPhone 7 and 7 Plus?
Pawn shops pay around $200 for iPhone 7 and $300 for 7 plus. If the phone has some dents or damage visible, the value will be affected and goes down. If the phone is not switching on, then the least you can get is $10. If you pawn your iPhone instead of selling it, you will get less money.
|iPhone 11 Model||Average Pawn Value|
|11 Pro Max||$600|
The price of the iPhone 7 and 7 plus depends on the condition and if it is with a box or not. With the box and all the accessories such as chargers and earphones, you can get around $250 for iPhone 7 and $350 for a 7 plus.
However, the iPhone 7 series is very old, and its value decreases daily. Therefore, make sure to sell the one you have as soon as possible if you are not using it.
Is It Better To Pawn Or Sell iPhone 7 At Pawn Shops?
First, there is a difference between pawning and selling anything at a pawn shop. Not only do pawn shops work as a retailer that buys and sell things, but they also give loans by providing collateral.
That is what pawning is taking a loan from the shop by providing collateral. However, selling your iPhone 7 or 7 plus would be better if you get a good value. The iPhone 7 series is getting outdated every day, so you may not have the same value in the future.
On the other hand, if you pawn the phone, it’ll be a lengthy process, and you must pay that amount back. So therefore, it would be recommended not to involve yourself in everything and sell the iPhone 7 or 7 plus if you want to.
How Much Is iPhone 7 Worth?
iPhone 7 was launched in two variants, a standard iPhone 7 and a 7 plus. No doubt both are great devices, but they have different values. Pawn shops offer a price similar to the market price as they don’t want to pay a higher price than the market.
|IPhone 7 Variant||Market Value|
|IPhone 7||$250 to $300|
|IPhone 7 plus||$300 to $350|
This table will help you understand and have an easy glance at the market price that one can get for iPhone 7.
What Factors Affect The Price Of the iPhone 7?
When selling an iPhone, many factors come into play to determine a resale value. When you go to a pawn shop to sell your iPhone 7, the first thing they see is the condition. Any dents, scratches, or marks on the body of your phone affect the price.
However, these are some of the external factors, but there are a few internal factors. For example, storage capacity and battery health are the factors that help determine the resale value.
Keep in mind that many pawn shops mostly look up eBay to familiarize themselves with the market value of a product. Therefore, you wouldn’t get a quote above the market price.
Is It Better To Sell iPhone 7 Online or at A Pawn Shop?
Be it any iPhone model, and there will always be a good demand for it in the market. If you are thinking of selling your iPhone 7, you will get to see many online and physical marketplaces for the best deals.
It may confuse you about where to sell the iPhone for a good price. The toughest decision would be between a pawn shop and an online marketplace.
If you are looking to get instant cash and make a quick sale of your iPhone 7, there is no better place than a pawn shop. Just enter the shop, get your phone valued, and they will offer you the best deal. Try negotiating a bit, and you will come out with a hand full of cash.
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.