Do you want to sell your old mobile phone to purchase a new one? We all have this enticement of purchasing a new smartphone every year as brands keep on launching upgraded versions of smartphones every three months. Any smartphone that we buy gets tagged as “outdated” in a matter of weeks.
If you want to shift to a new smartphone, you need to sell your old mobile phone at a decent price to minimize the upgrade cost. Selling your old smartphone is a skill and the pricing depends on certain factors as to Why, When, What, and to Whom.
Why Should You Sell Your Old Smartphone?
Selling your old mobile phone for money has numerous ramifications. What is the best resale strategy? How to keep away from tricksters who act like customers? Is selling an old phone a good idea for me or should I simply use it until it stops working? In any case, it very important to analyze that whether your current smartphone is sufficing your needs or not.
Timing is vital. Selling your phone at the right time acts as the best disposal option, which helps you to earn some money that can later be invested in buying a new one.
When Should You Sell?
When is the point at which you should sell your old mobile phone? Like most electronics, smartphones lose their charm over the long run. As new models are launched with improved features and better specifications, we tend to get lured towards the new smartphone that has just launched with better hardware.
Also, the resale value of your old smartphone gets degraded as soon as the new iteration is announced as the one you have is a generation older. As per Policy Genius, before the arrival of another model, your phone can acquire up to 25 per cent more than it would after the new launch. To get the best resale value for your phone, you should sell it within eight to twelve months after you buy it. The reason is, nobody would purchase an old smartphone that is more than a year old.
What Determines The Resale Value?
While selling something, the seller must understand what exactly he needs to sell. There are some basic qualities that each buyer expects from a product, even if it is second-hand. The same goes for the mobile phone. The resale value of a phone generally relies upon factors like the current cost of that phone, the condition of the phone, and brand value. Here, we will make you understand that how can you get the best cost for your old mobile phone.
1. Condition and Performance
One of the main factors that decide the resale estimation of your phone is its condition. No one will purchase a phone with broken glass or a crooked charging port or non-functional hardware such as speakers, microphone, etc. Consider selling your phone at the best cost only if it has been maintained in a good condition. The most important thing is that the overall look and feel of the phone shouldn’t be disappointing.
The performance of the phone should likewise be acceptable. The phone ought not to have any speaker or battery issues that forced you to give up your old phone. If there is something that does not work you should mention this while selling your smartphone.
Besides, you should have all its accessories along, including a pair of earphones, charging cable and a charger. This will help you to get excellent resale value.
2. Brand Value
The next thing you must consider is the brand. The resale value, to a great extent, depends upon which brand’s phone you are selling. Brands that have been in India for quite a while are viewed as quality brands and have more prominent resale esteem than others.
For instance, Samsung certainly has more resale esteem than Xiaomi, Infinix, or Vivo, which are recent establishments. As per surveys, Apple performs the best, with their phones losing about 40 per cent of its value in the first year following their launch. Smartphones from newly established brands like Xiaomi, Realme lost 60 per cent of their value over a similar period.
The customer expects a genuine price to pay for the second-hand product. Don’t set the price too high, even if you have used your phone only for a short time span. No one cares for that! Always remember the cost of the phone model which you are selling before you assume the resale value for your smartphone. A resale value that is 50 per cent of the original cost is, generally, the maximum amount you can get by selling your smartphone.
To Whom You Should Sell Your Old Smartphone?
Finding the right customers for your product is another big challenge. You will come across a thousand people, but there’s only one who truly deserves your asset:
It’s better if you can sell your old mobile phone, especially the budget devices i.e the devices that cost below Rs. 20,000 directly to buyers in your friends and family. This ensures that the buyer can get the best value for money and no brokers or seller is involved in between and this benefit can be passed on to the buyer.
But this is not the best option available and otherwise, Cashify can come in handy to provide the best value for money for your smartphone.
Most of the premium flagship smartphones, that are evaluated in the price range of Rs. 30,000 to 70,000 fall under this category. These flagships must be sold to retailers. Wonder why? This is simply because an average customer wouldn’t be confident enough in buying a second-hand smartphone at this price directly from individuals.
Selling your smartphone to Cashify can be the best option here as your local retailers might not provide the best value for your old smartphone. Cashify provides the best value for your old smartphone and you can check the value of your old smartphone here for free.
3. Exchange Programs
You must have heard of Apple’s exchange program, that allows iPhone users to upgrade to the latest smartphone every year, by offering a great exchange value for the older model. Similar programs are offered by many other smart phone brands, such as Xiaomi and Samsung. Some offer direct cash for your old device, whereas others offer heavy discounts on the new models in exchange for the old one.
As mentioned earlier, selling your old mobile phone at the right time will help you get a new one at the lowest possible cost. While offering exchange offers, these companies prefer to accept models that are no more than a year old.
4. Online Trade-In
Besides previously mentioned alternatives, there are other choices like web-based selling and internet business organizations’ trade offers. Exchanging your old phone and purchasing a phone from a similar e-business store is, potentially, a great choice. E-commerce websites such as Amazon and Flipkart offer exchanges on select gadgets when you purchase a new product from these web-stores only. However, they may not offer similar resale value as brands do that you would have expected.
Read More: How To Sell Your Old Smartphone On Cashify
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