# Hey Friend, Should You Pawn Your PlayStation 5? Here‘s My Advice

- Canonical: https://33rdsquare.com/hey-friend-should-you-pawn-your-playstation-5-heres-my-advice/
- Published: 2023-10-22
- Author: Nelson Ayers
- Categories: [Business & Worth](https://33rdsquare.com/category/games/worth/)

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So you‘re thinking about pawning your PlayStation 5 for some quick cash? Not a bad idea, but be careful – pawn shops won‘t give you the best price. Based on my research, here‘s what to expect if you pawn a PS5, and tips to get the most cash.

## How Do Pawn Shops Work?

In case you‘ve never pawned anything before, here‘s a quick rundown. Pawn shops give loans and hold items as collateral.

You take in something valuable like electronics, jewelry, musical instruments. The pawn broker assesses the item‘s resale value, then offers a cash loan at around 50-60% of that value.

If you repay the loan plus interest within the repayment period (usually 30-90 days), you get your item back. If not, the pawn shop keeps and sells your item to recoup their loan.

So pawning your PS5 gets fast cash, but you risk losing it if you can‘t repay in time!

## Estimating How Much a PS5 Could Pawn For

Your pawn offer depends on the PS5‘s current resale value. With high demand and short supply, PS5 resale prices are still inflated:

- Used PS5 Digital Edition – Avg resale price $485 (eBay, March 2023)
- Used PS5 Disc Version – Avg resale price $547 (Swappa, March 2023)

Based on those resale averages, pawn shops might offer:

- **PS5 Digital** – $200 to $300 on a $485 resale item
- **PS5 Disc** – $250 to $350 on a $547 resale item

But again, pawn offers vary widely between shops and regions. During the 2021 holiday season, some pawn shops paid as much as $450 because of sky-high demand!

My advice is to call around, check websites for price quotes, and negotiate. With the PS5 still being hard to find, you may get lucky!

## Sweeten the Deal With Accessories

One thing you can do to significantly increase your pawn offer is to include extras like:

- Games – especially newer releases
- Extra controllers
- Charging docks, headsets, VR bundles
- Original box and manuals

All these accessories add resale value. I‘d recommend bundling at least 2-3 games and 1 extra controller if you have them. Some sample pawn bundles:

| Items | Est Resale Value | Est Pawn Offer |
| --- | --- | --- |
| PS5 + 3 games | $640 | $320 |
| PS5 + 2 controllers | $620 | $310 |
| PS5 + VR bundle | $700 | $350 |

As you can see above, accessories can add $50 or more to a pawn shop‘s offer. Well worth bringing along anything that might sweeten the deal!

## Pawn Shops vs Other Places to Sell Your PS5

While pawn shops provide fast cash up front, you‘ll likely get more money selling your PS5 other ways. Some alternatives and their pros/cons:

**eBay** – Large seller base but competitive. More work but retains most value.

**Swappa** – Specialized for electronics. Lower fees, good prices.

**Facebook Marketplace** – Good for local sales. Risk of scams.

**GameStop** – Very low offers but instant in-store cash.

**Pawn Shop** – Only ~50% of value but quickest access to cash. Higher risk of losing item.

My advice is try Marketplace or Swappa first if you want top dollar and have time. But if you need cash urgently, pawn shops pay out immediately. Just know you’re taking a hit on the potential value.

## Tips to Get the Most Cash When Pawning a PS5

Follow these tips if you decide to pawn your PS5 to maximize your loan amount:

- **Call ahead** – Ask about current offers, policies, accessories they’ll consider
- **Know your details** – Model, storage amount, condition. Accuracy gets better quotes.
- **Factory reset** – Avoid issues with your PSN account blocking the console.
- **Bring all accessories** you‘re including – games, controllers, cables, original box, etc.
- **Shop around** – Quotes vary greatly between pawn shops, negotiate firmly!
- **Read the loan terms** – Know repayment dates, interest/fees. Don‘t lose your PS5!
- **Meet at the shop** if requested – Some may want to inspect before finalizing a quote.
- **Be polite but persistent** – Haggling may get you another $50-$100.

## Is Pawning a PS5 a Good Idea Right Now?

Whether pawning your PS5 makes sense depends on your priorities:

**Pros**

- Fast access to large chunk of cash
- Prices still inflated due to demand
- Avoid eBay fees and competing with lower prices

**Cons**

- Only ~50% of resale value
- Big risk of losing your console if can‘t repay loan
- Other selling options pay more overall

I‘d only recommend pawning your PS5 if you need cash urgently for bills, debts, etc, and are very confident you can repay the loan on time. Otherwise, you‘re better off with alternatives like Facebook Marketplace for maximum profit.

But if you‘ve weighed the risks and pawning is your best option, follow these tips to make it work. Let me know if you have any other questions!

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Source: [Hey Friend, Should You Pawn Your PlayStation 5? Here‘s My Advice](https://33rdsquare.com/hey-friend-should-you-pawn-your-playstation-5-heres-my-advice/)