3 Key Factors that Influence the Value of your Old Phone

With the world of cell phones evolving continuously, we all want to have the latest phone that arrives in the market. However, once you decide to buy a new phone, the question is what you will do with your old phone. Selling it would be a great option. You might think what price you would get by selling your old phone.

You might get a good price for a high-end cell phone or a recent flagship. However, if you have an old phone, it’s difficult to get a satisfactory price for it. To get the maximum price for your old phone, you need to know the factors that impact the worth of your phone.

Following are the factors influencing the price you would get for your old phone:

1. Age

Your cell phone’s age is something that is noticed by everyone. People don’t like buying old and outdated phones. In general, the value of a phone reduces to half within the first year only. If you purchase a phone at a cost of 30K at present, you might not be able to sell it for greater than the price of 15K next year. However, this may not apply to all brands and handsets.

2. Physical Factors

The physical factors include faulty components in the phone, such as damaged volume buttons or an SD card slot that doesn’t function. A battery that overheats is also a problem. If a phone has a battery life that’s lower than average, it’s likely to sell for a rate that’s lower than expected. Several of such factors influence your old phone’s price tag. Such physical attributes impact a phone’s price significantly. A defect in the phone can single handedly reduce the resale price by a substantial amount. In case you want to sell a defective old phone, avoid negotiating too hard.

3. Damage

Damage in phones can be classified into several major or minor types, either functional or aesthetic. Yes, there are many recommerce companies buying old phones that are so damaged that they cannot be even switched on. Nevertheless, they don’t sell such phones for a good price. However, minor damages, such as wearing of paint or discoloration, small scratches on phone’s surface or screen, or minor dents do not hold much significance. But in case the damage is anything major, it is better not to expect any impressive resell value.

Summing Up

In order to sell your old phone at the best possible rate, you need to sell it smartly. Knowing the factors that influence the resale price of your phone will help you take a smart approach while selling your phone. Apart from that, being aware of websites and platforms that are great for selling old and used items would be quite helpful for you. Renting Street is one such website where you can sell your old phone and expect a good deal.




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5 Smart Tips to Encash Your Old Phone

If you are a technology enthusiast and love to have the latest of all technology has to offer, chances are that you like having the latest models of your smartphone too. So, if you think you need to switch to the latest version of your phone, you might have started planning to buy a new phone.

Well, if you have decided you’re getting a new smartphone, why not sell off your current one? Selling off the old phone is a great way to cover the new phone’s cost to a significant extent.

When you’re selling off your old phone, you would want to get the best possible price for it. To help you get the best price for your old smartphone, here are some effective tips:

1. Begin Early

As stated by the chief marketing officer of phone reselling platform NextWorth, Jeff Trachsel, NextWorth gets lots of people that wait for receiving a quote until buying the new phone (iPhone). However, with increase in the volume, there’s a decline in your phone’s value, added Jeff.

To grab the best deal, avoid the rush of sellers; whether you’re selling the phone yourself or through a resale dealer. Pay heed to the release dates and get a selling price locked in before 3 to 4 weeks.

In case you need to sell your phone even before the latest model arrives in the market in order to get the best price, consider buying a cheap phone for the time being. Then, keep that phone for emergencies, such as when your phone falls in water.

For this, you need to be aware of the release dates of new phones. Some sites that keep a track of such things are – CNET, PhoneArena.com, and Digital Trends.

2. Check Out Prices in Dealer Sites

Many resale dealers purchase old phones. This is the easiest method of getting cash for your old phone. You only need to request a quote for price, ship your phone by the decided time frame (that is 3-4 weeks usually), and then wait to receive the payment.

However, in this method, you need to see all the sites thoroughly to attain the best deal.

3. Sell the Phone Yourself

There are chances of getting a higher price in case you choose to sell your smartphone yourself through a resale or auction site. Some good platforms to start are eBay, Craigslist, and Amazon. However, you won’t receive any guarantee of getting your desired price. You may not get any bids or your auction may go for a lower price than you expected. Moreover, most of such sites require you to pay some fee, which reduces your profits.

If you wish to take a risk, you may check out these sites – eBay, Amazon, Bonanza, and Craigslist.

4. Ask Around

The internet is not the sole way to get buyers. Selling items to people you know is easier compared to selling online. Ask your coworkers, family, and friends whether they are interested to buy your phone. If you don’t find any buyers in this way, consider posting ads on bulletin boards of community centers, libraries, churches, and colleges.

5. Trade In

Most of the private buyers and resale dealers want phones in newer models and a good condition. However, this doesn’t make your broken or old phones worthless. With trade-in program, you can get gift certificates or cash for your old phone.

An example of this is ecoATM. You need to drop the old phone into a machine that looks like an ATM. The machine examines the device and offers a price to you. If you accept the price, you are offered cash right on the spot.

Trade-in programs are offered by retailers too, however, they don’t pay you in cash always. For instance, Walmart and Best Buy offer store credit. Earlier, Target used to give cash, but they are also offering store credit now. Another way to trade in your old phone is through an Amazon gift card.

These are some effective ways you can make cash out of your old phone. Try applying them and see for yourself whether they help you get a great deal for your old smartphone.

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