Video game systems are among the most common items that are bought and sold at pawn shops and garden city pawn loans.
Knowing what you have and what it is worth is half of the job in making the most from a pawn.
It is the difference between taking what you can get or taking what you may need for your circumstances while also getting your Xbox One back in the end.
How Much Do Pawn Shops Pay for Xbox One?
Pawn shops will typically pay $50 for your Xbox One, $60 for the Xbox One S, and $65 to $100 for the Xbox One X. Pawn shops will determine the price based on the generation, condition, and storage space of your Xbox.
As mentioned before, each particular Xbox has a particular value based on which generation it is, and the quality of the product itself. It also depends on where you decide to sell or pawn. Based on the data below, the best Xbox to pawn is
|Generation||Pawn Shop||eBay||Facebook Marketplace|
|Xbox 360 Xbox 360 S||~ $30-60||~ $30-90||~ $50-100|
|Xbox 360 E||~ $40-60||~ $50||~ $130-150|
|Xbox 1||~ $50-100||~$150-200||~ $175-200|
|Xbox 1 S||~$50-100||~ $150-200||~ $225-250|
|Xbox 1 X||~$50-100||~ $250||~ $175-200|
|Xbox Series X||~$300-400||~$450-550||~ $450-500|
|Xbox Series S||~$150-175||~$200-220||~$250-300|
Clearly, the newer the model of Xbox the more you will receive for it. Again, this still depends on the pawn shop you go to, and the quality of Xbox you bring into the pawn shop.
The condition of your Xbox is imperative in finding the value of your Xbox 1. The pawn shop will be less likely to pay a larger sum of money if your Xbox has damage or scratches. It will not allow them to create the large profit that they need to stay in business.
It also depends on the general type of Xbox 1 you have. Larger amounts of gigabyte data can have more of an impact on your price. Similarly, if you opted for the 2019 Xbox 1 S, your price also has a likelihood of being pawned for more.
Depends on the Pawn Shop
Another major factor in pawning your Xbox is finding the right pawn shop. Some pawn shops welcome as many different gaming consoles as possible. They know that they are an easy flip. They also probably have a good feel for what their customers are looking for.
Difference Between Pawning and Selling Xbox One at a Pawn
Pawning and selling your items are two vastly different situations. If you are selling your item, you are trading the possession for cash with the pawn shop. The pawn shop then owns the item, you do not. Whereas pawning is like trading for fast cash.
Pawn America has this to say about the literal trade of pawning “When you decide to sell an item, you forfeit your ownership of it in exchange for cash. Pawning, however, doesn’t mean you have to lose ownership. When you pawn an item, you give your item to the broker as collateral for cash. If you pay them back before the timeline expires, you can retrieve your item.”
When You Sell Your Xbox One to the Pawn Shop
If I am selling my Xbox, I am giving my Xbox to the pawn shop. I receive money in return. That means I cannot tell the pawn shop what to do with their new Xbox, and I cannot go back and get it unless I pay whatever they sell it for.
When You Pawn Your Xbox One to the Pawn Shop
If I am pawning my Xbox, I am trading the Xbox to the pawn shop for some quick cash. This way I can use the cash as I need to, and if I receive enough money back to pay the fee to hold my Xbox, I can retrieve it back from the pawn shop. Slightly different process, but is a great way for you to make some extra money.
How Do Pawn Shops Determine the Price on Xbox One
Pawn shops have several steps they take to decide on a price for items. Pawn brokers work to know as many different products as possible and research them as needed. Then they look at many parts of your actual Xbox One that decide the price.
As mentioned, the first step is to research the product. Usually, pawn shops want to make sure each product is authentic, so sometimes they will bring in an expert to tell you more about that product. This expert also oftentimes can give you a range for how much the product is worth.
Next, the pawnbroker will look at the physical condition of the product to price it properly. Any scratches, or parts that do not work depreciate the value of your product. This is also where a smart pawnbroker will consider how much a buyer may pay for this product, and how long it will sit on their shelf.
Once the item has been deemed authentic, the pawnbroker can come up with a price for you to pay. From here, you can take that price if it makes you comfortable. If you feel that you could get more for it, it does not hurt to ask respectfully. Sometimes the pawnbroker will go for it. Other times, they won’t.
How to Get More Money Out of Your Xbox One at Pawn Shop
The first tip you should consider is making sure you shop around at several different pawn shops to find the best deal for your product. Especially if you are intending to get as much as you can out of the product, you should find who will give you the most for your product.
Another tip to pawning your Xbox 1 is to make sure it is cleaned up, has few scratches, and works properly before you pawn it. Remember, the better the condition the more you will sell it for.
Do your research on other sites if you are willing to sell your Xbox. You may get some extra cash that way if you are willing to be patient. However, if you are needing money quicker and intend on getting your Xbox back.
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.