Do you love upgrading your mobile phones to the latest model available in the market? I am sure, you answered yes otherwise why would you be here, reading this think piece.
According to a recent statistic, close to 80% of the Australian population use smartphones. And, most people love to invest in newer phones every 2 to 3-year frequency.
However, what happens to old phones?
Have you tried selling your Old Smartphone?
Most people suffer from this dilemma throughout their life. Since a phone’s price value each year depreciates by almost 25%, it becomes difficult to sell it and get a good value for the same. This is one of the primary reasons why people are so hesitant to sell their old phones.
You may get a lot of advice like sell & trade in your phone online, and keep it in a maintainable condition. However, it is generic advice because there are a lot of websites and avenues available, where you can sell your old phone. Sites like MobileMonster can be a great place for this.
So, let us look at some actionable advice that will help you to get a great price!
Private Sale is the key to making money on the sale of a Phone
I believe all of us have been in a situation when we bought a new phone, and just transferred all the data from the old phone, and did not use it at all. We even tried selling it, but the price was just not right.
I guess this happens because we did not do our research right. So, where does the research begin? It begins by first looking and understanding the market value of a similar model of phone.
You can easily scout the sites like eBay, Facebook Marketplace, Gumtree, etc., and understand the average selling price of the phone.
You can try getting a valuation from an Instant Buy company, and understand the price, that you can quote to the buyer. Once this is done, you can look for people who are wanting to buy a mobile phone on a similar budget, and you can start approaching them.
You will need to spend some time online, till you find the right buyer. This trick usually works if it is the latest smartphone and people are wanting to buy an upgraded model but do not have the budget.
You can sell it to an Instant Buy Company for a good value!
With Instant Buy companies, there is no scope of bargaining. However, these companies help you get the true value of your old smartphone based on the following criteria:
- Working Condition of the Phone: This is the most important aspect when you are trying to sell a phone. If your device has any issues, when it comes to its workability, you may not get a fair value for the same.
- Physical Damage: Most of the old phones undergo a lot of physical damage, and that is the reason why owners try to offload it and buy a new phone. This already adds to the depreciated value of the phone and you end up getting peanuts for the old phone.
- Age of the phone: Over here, we are not just talking about how old your phone is or how long it has been used but what was the initial release of the phone. It also takes into account the original software release and the number of updates available on the phone.
- Accessories of the Phone: This is about the availability of in-box accessories and whether there are any wear and tear of those accessories or not.
Once all of these things are evaluated, you can send your phone for a physical valuation and when you finalize the sale, the money will be deposited in your account instantly.
Keeping the old phone in an amazing condition
This is one of the simplest yet difficult ways to earn good money from your old phone. There are also other options available – buyback while purchasing the phone originally, exchanging it with a new phone, sending it to the company for a refurbished model, etc.
All these options are making it easier for people to get a good resale value for their old phones, as people are looking to recycle electronic waste.
Over to you…
A study showed that close to 62% of Australians use the same phone for two years. So, if you are one of them, this article will help you in making extra money and also buy the new phone you have been eyeing for so long!