In January 2007, Steve Jobs, the founder, and CEO of Apple, released its piece of technology and software that would change the world and the whole tech-industry in a night. This device was an iPhone. The iPhone has put the power of a computer in the customer’s hand. The user’s browsed the internet, purchased things, and played video games overnight.
Apple gave people the platform for phone application development and the ability to create a kind of app plus to make money by selling it. Apple gave birth to a whole new industry of app developers.
For years, the competitors claimed to launch their products as iPhone killers, but they left the market divided into two categories. Androids and iPhones.
The marketing strategy of Apple convinced people that the iPhones are exclusive, and therefore they hold more value, power, and overall people desire iPhones than any other Android phone.
This perception of the public gave high value to the brand, which is great for the pawn business. If you want to get instant cash in hand and need to sell my phone for cash today instead of waiting for a buyback firm to send me money, then pawning my cell phone can be a great deal.
iPhones and Pawnbrokers
There was an influx of iPhones because of their high demands seen by the pawnbrokers. But the pawnbrokers need to be careful because of the consistent launching and releasing of the new products of iPhones and iPads, which makes the old models out of date.
Purchasing old models of iPhones is also not a loss because of Apple’s constant updates to IOS. These updates make the old model’s run efficiently and retain their value.
Apple devices like iPhones and iPads hold the integrity of their model and retain their value for a longer time than other electronics. Even after two-three generations of new models, you can make money from the old models.
The dichotomy between the Apple and android models presents a great opportunity for the pawn industry. If you want to sell my iPhone 8 Plus in cash, and there is a consumer who wants to buy an iPhone 8 plus and plans to spend hundreds on it, then a pawn shop can be very useful for both of us.
Pawnshops are the best place to find great deals, and also, the customer can bring different unwanted items in for cash or put them towards the price of new items. There are many other reasons why pawnshops love taking in products of Apple. They hold their value and are highly in demand by the customers.
When it comes to dealing with pawnshops with the products of Apple, here is some useful information that you need to know.
On loans, we have found that the pawn shops give the consumer 20-25% of the device’s current market value. This pricing tactic leads to a 15-20% loss of its value while sitting for months in the warehouse until it falls out of pawn.
A big determinant is pawn grace and terms. On buys, the pawnshops give 25-35% of the market value of the product to the consumer. This is because of the liquidity of Apple devices.
If you have paid 150$ for an iPhone 11 and want to sell my iPhone 11 for at least $300, but instead, you find that you can only get $75-$100 for it! This issue has happened to many pawnbrokers because of Apple’s iCloud.
Apple has provided the iCloud services to all the IOS users, which allow the user to save all the documents, photos, etc. on the cloud, and it also comes with the safety feature called iCloud lock.
This means that if a customer sells an Apple device and then initiates iCloud lock, then Apple will completely lock the device for anyone else. Then this device will be of no use, and you can only sell their parts.
Here comes Pawn & More, which makes buying, pawning, or selling of used goods easier and simpler for both pawn shops and customers. For the Apple iCloud lock, the bottom line, you need to get proof of disabling the iCloud lock from the seller.
Pawn & More brings the customers and leading American pawnshops together and provides a platform to do business.