Serialization is only on certain parts so things such as housings or charging ports still have good value and serialization is on a specific chip so while those parts do sell for less, a skilled repair technician could move the chip over assuming the whole part isn’t fried and it’s just damaged. There is less value in locked phones but there is still material value and they often steal the phone then get the phone number for the device and try to trick the user into removing the device or phishing their Apple ID as find my doesn’t require two factor to remove, only the password.
Serialization is only on certain parts so things such as housings or charging ports still have good value and serialization is on a specific chip so while those parts do sell for less, a skilled repair technician could move the chip over assuming the whole part isn’t fried and it’s just damaged. There is less value in locked phones but there is still material value and they often steal the phone then get the phone number for the device and try to trick the user into removing the device or phishing their Apple ID as find my doesn’t require two factor to remove, only the password.