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Is There any Process to Calculate the Resale Value of a Smartphone?

Is There any Process to Calculate the Resale Value of a Smartphone?

Smartphone models come and go over the years. This means that at some point, we will be wanting the latest device for personal use. Some consider making money out of their previous device which is a great idea as this will help keep their smartphone from being thrown into the garbage bin. But what will the price be when I sell my phone?

Selling a recent model won’t be hard to do since there will be dozens of interested buyers out there. This means that you can dispose of your old device quicker than models that were out in the market for several years now. The question now is how will you determine the resale value of your device?

Factors to Consider for the Best Resale Value Smartphone

Putting up your old smartphone for sale is the best way to recoup some of the money you spent on it. Although it is impossible to get paid the original price for it, you can still sell it at a decent price which you can use for purchasing your new mobile device. There are a few factors that can help you figure out the cost of your gadget such as:

What’s its Age?

If you are searching for a new smartphone, you will most likely choose the latest model. No one will buy an old model which is the same thing when selling your device. A good rule of thumb when it comes to selling your current device is that its value will depreciate after a year of use. Let’s say you bought your device around $1000. If you will be selling it after a year, the average price will be around $500 or so. This will vary depending on whether you have the best resale phone brands like Apple since they can be sold above the average price depending on their condition.

Any Damages?

Damages

Repairing damages is not always possible (Photo credit: gizbot.com)

Another factor that will affect the resale value of your smartphone is when it has damages to it. A broken screen will not fetch your device a good price, unless you spend some money to replace it prior to selling. Dents, stains on the body, or even scuff marks can lower the value of the mobile device depending on how severe they are. Some people are willing to overlook minor damages to the smartphone as long as it is working smoothly. This is why, if you are the type of person who sells his mobile phone after a few years, you should take care of it as much as possible so you can put a good price on it. 

Physical Attributes 

What other factors can play a role on the resale price of a smartphone? Well, its physical attributes should be looked into as well. Take note of any issues with your device such as a malfunctioning microSD slot, a battery pack that is already half of its expected lifespan, or volume buttons that are not working properly. These are the ones that potential customers will be checking and will have an effect on the price too. 

What’s Your Phone’s Brand? 

Another factor that will play a part on the price of your old smartphone is its brand. There are some companies that are more popular compared to others. Among the best resale value phone brands are Apple and its rival Samsung. If you have either one, then there is a possibility that you can sell your old device at a much higher price because it is one of the most in-demand brands in the market. Apple don’t normally lower the price of their iPhones not unless they have a new one up for grabs. This is one of the reasons why you can sell yours higher than half the original price. 

Is It the Latest Model? 

It is a no brainer that when you sell your smartphone which is among the latest models, you will fetch a good price for it. However, if it is an older device, it may be tough to sell it unless it is among the iconic models such as the first mobile phones that are in good working condition. Flagship phones tend to fare better when they are re-sold so the next time you are thinking of making money out of your device, choose those that have a good resale value. 

How to Determine Your Smartphone’s Resale Value?

Smartphone’s Resale Value

Some phones' values increase with time (Photo credit: CNN.com)

You should do your research to determine the best resale value smartphone. Fortunately, there are plenty of avenues that can help you find the right price for your gadget such as: 

  • Online selling platforms. There are some online platforms that specialize in selling second hand gadgets where you can check the ideal price for your own device. These sites usually have a smartphone depreciation calculator builtin to come up with an estimate. You can check these ones out or sell them your mobile phone to generate income. 
  • eBay. Another way to determine the ideal price for your smartphone is to check the listings in eBay. Look for the same brand as yours and have the same accessories included as well as condition so you can get an idea on how much you will sell your own gadget. You can even put your old smartphone up for grabs on this online retail platform if you like. Just make sure that you put all the necessary information about the condition of your device and post photos too so potential buyers will know what to expect. 
  • Recycling sites. There are recycling sites online where you can sell your old smartphone too, but be sure to do your research first. Some may offer to buy your device for a good price, but they will have to check its condition first which they need to do personally. They may give you a much lower quote than expected but then sell it for a higher price to get profit. If you will use this platform, make sure that you get the expected listing for your device so you will know what the ideal price for your mobile phone is. 

Helpful Tips to Consider When You Want to Sell Your Old Phone

You are not the only one who is thinking, “Should I sell my phone?” these days since money is tight and you’d like to earn a little while disposing of your old stuff. It is highly likely that you will have a few mobile phones gathering dust in your drawers already. If this is the case, then why not make some money out of them? Before you do, there are a few things that you should consider. 

  • Think carefully. Although it is nice that you will earn a bit from selling your old mobile device, you should ask yourself if this is the course you want to take. Consider the pros and cons of having an old device on hand for backup in case you lose your new one or if someone in your family needs it. 
  • Backup all your files. Since you are planning on putting up your old smartphone for sale, you should backup your files first before doing a factory reset. You don’t want other people getting access to your personal information right? Remove your microSD and your SIM card from your phone then do a factory reset. 
  • Choose your platform. The next thing that you should consider is where you will be selling your gadget. Will it be on eBay, Craigslist, or perhaps on Facebook? Are you going to put up an ad for it or will you reach out to your friends to see who might be interested in buying your old phone? If you want to earn something extra, selling it on eBay may be a good choice because the prices here are reasonable to begin with. There are other sites that do private selling where you can get a good price for your smartphone as long as it is in good condition.
  • Name your price. Just like when you are selling a few of your personal belongings on a garage sale, you will also need to determine how much you will want to sell your mobile phone. If you are unsure of its cost, take advantage of an online smartphone depreciation calculator to determine what its current selling price is in the market. You can also follow the tips mentioned above on how to come up with price for your used device as well. 

Conclusion 

Selling your old smartphone is one of the best ways for you to keep it from becoming part of the electronic wastes around the world. It is also a good way to get back some of the money that you spent on it when you first bought it. Also you can sell it to a specialized place where it gets renewed and sold as a refurbished phone which makes it easy for those looking for a budget second hand phone. If you are unsure where to begin, you can consider the factors mentioned above to come up with the best resale value smartphone price. This way, you will get some money while decluttering your drawers too. You might even make money out of your new phone in the future to depending on its condition using the tips mentioned here.

 

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