Las Vegas Pawn Shop Owner Anticipates Impact of Apple's New Product Release

LAS VEGAS - Sept. 19, 2014 - PRLog -- A Las Vegas retailer is already seeing the impact of Apple's  iPhone 6 and iPhone 6 plus release.

Michael Mack, who buys and sells a variety of Apple products at Max Pawn, a luxury pawnshop in Las Vegas, said any time Apple comes out with a new product, consumers rush to buy the new product and liquidate the old product.  “We typically see phones in pawn a day after the release -- including the new phones," he said.

Max Pawn buys and sells phones and tablets, giving loans on phones as well.  “The day you buy a new one is the best day to sell your old phone," Mack said.

1.   Know your phone's value.  The demand and value of your current phone  is going down every day after a new release, Mack said.  “Many people have drawers of old phones. The iPhone 5s is no longer worth $500 or $600. A phone is not an asset that holds its value.”

2. Be cautious about "paying up" online or through third party retailers. Due to the demand for new phones, online retailers are charging more than Apple for the new iPhones, also charging shipping fees.

3. Be smart when buying or selling through Craig's List.  Mack, whose store is a “free trading zone” advises consumers to be careful when buying or selling their phones online or arranging transactions online with people they don’t know. (Max Pawn is Nevada’s first “Craigslist Safe Zone,” offering a safe, friendly third-party location to exchange or validate items purchased online.)

3. Ask the right questions before buying. If you are buying a new phone, determine if you will have a contract,  be sure the phone is unlocked and if it’s an iPhone, be sure there is no iCloud lock.   Ask about the return or exchange policy. (Max Pawn offers  a buy back policy where customers can  sell items back to the store within 90 days or even six months and receive a portion of the purchase price back.)

About Max Pawn

Max Pawn, which also sells online, is located at 6040 W. Sahara in Las Vegas. The store showcases more than 5,000 square feet of luxury items.  Michael Mack opened Max Pawn in 2009, at the height of the recession. The store has distinguished itself in the Las Vegas market as a luxury destination that caters to women, specializing in handbags, jewelry, accessories, electronics and more. Max Pawn offers customers a number of options, and will consign or sell items, while also offering loans.