GameStop allows customers to trade in used games, consoles, accessories, electronic devices, and more. But one common complaint is that their trade-in values are incredibly low.
So, why are GameStop’s trade-in values so low, and what can you do about it? Here’s what you need to know.
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Why Are GameStop Trade-In Prices So Low?
GameStop’s trade-in values are so low, mainly due to profit margins. GameStop only makes about 10% profit on new products and releases. Most of GameStop’s profit comes from reselling used and refurbished items. For example, they might sell a used game for $20 and offer a trade-in value of around $5.
GameStop Trade-In Prices Explained
GameStop has always had a reputation for low trade-in values. The reason for their low trade-in values comes down to profit margins.
GameStop only makes around 10% profit on the sale of a new game. This means a $60 title would only profit $6. On the other hand, pre-owned games have a profit margin of around 50% or higher.
For example, GameStop might sell a used game for $20 and offer a trade-in value of $5. GameStop would only profit $15 after the game was sold. Keep in mind that these aren’t accurate and are only rough estimates.
However, this is why you might notice GameStop employees pushing for pre-owned and refurbished products. The profit margin on these items is much larger, so they’re trying to earn the store as much money as possible. That being said, the profit margin is only one part of the bigger picture.
How to Get Better Trade-in Prices
There are multiple ways you can get better trade-in prices at GameStop. Some methods can include joining their rewards program, bringing valuable items, and making sure your items are in good condition. Let’s break down these methods a bit further to give you a better idea.
Become a PowerUp Rewards Pro Member
One way you can get better trade-in prices is by becoming a PowerUp Rewards Pro Member. Joining this program might be worth it to you if you frequently trade in used items at GameStop. PowerUp Rewards Pro Members receive an additional 10% trade-in value when they bring in an item.
For example, you might receive $5.50 if you trade in a video game worth $5 for non-pro members. PowerUp Rewards Pro Members also receive $5 monthly rewards, 2% back in rewards, exclusive early access, and more.
Bring Valuable Products
Another way you can increase your trade-in value at GameStop is by bringing valuable products. It’s no secret that some games are worth more than others. If your circumstances allow it, Incorporating a more strategic approach to your trade-ins might benefit you.
For instance, you might want to bring in Pokemon, Mario, or other Nintendo series if you’re trading in old Nintendo DS games. These games have much higher values compared to other titles on the console.
Another way to ensure you’re bringing valuable products is to check the official GameStop website. You can find up-to-date information on the current trade-in values for specific games, consoles, accessories, and more.
Make Sure Your Products Are in Good Condition
Ensuring your products are in good condition can also help you earn more at GameStop. GameStop will accept items that aren’t in perfect condition at a cost to the customer. They’ll accept the item, send it in for refurbishing, and take the refurbishment fee out of your total trade-in value.
You can avoid the refurbishment fee by ensuring your products are in good condition. Make sure your discs aren’t scratched or damaged and have the case if applicable. Ensure you’re trading in consoles or electronic devices that have all their parts, cords, accessories, and other components.
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The Reason for Low GameStop Trade-in Values
GameStop’s trade-in prices are so low because of profit margins. GameStop only makes about 10% profit on new products and releases. Most of the company’s profits come from pre-owned and refurbished items. For example, they might sell a used game for $20 and offer a trade-in value of around $5.