Pawn shops used to prefer high-end watches, especially ones made of precious metals, in the past.
But ever since smartwatches have become so popular, some stores have added more items to their selection.
What Affects the Value of a Smartwatch?
Different factors will decide the price or loan you can get for your smartwatch at a pawn shop:
- Any signs of wear, such as scratches, cracks, or software issues, can remarkably lower the value.
- If your watch is made from high-end materials or has a premium band, you’re likely to get a higher price.
- Having the original charger, box, or extra accessories can increase the value.
Here’s what you should do before pawning your smartwatch:
- Look up your smartwatch's make, model, and year to set its current market value to decide if the price offered at the pawn shop is fair.
- Clean your smartwatch with a soft cloth and appropriate cleaner to improve its appearance.
- Test all functions of the smartwatch to make sure it works properly; pawn shops will check this before making an offer.
- Decide whether to sell your smartwatch for cash or use it as collateral for a loan. Find out about the loan terms, interest rates, and repayment schedule at the pawn shop.
- Perform a factory reset to remove all personal information and protect your privacy before pawning your device.
Where to Pawn or Sell a Smartwatch in New York City
There are many places in New York City where you can sell or pawn your old electronics, even smartwatches. But it’s important to do some research before visiting any shop.
Call ahead to confirm they deal with smartwatches, and be certain that your model and its condition are acceptable to them. Look for a reputable pawn shop with good customer reviews – that will help you get a fair deal.
Always choose a trusted pawn shop to be confident about experiencing a smooth transaction.