6 Factors That Affect the Resale Value of Your Mobile Phone

Technology is incredible, and as the Internet of Things (IoT) has grown in popularity, smartphones and tablets have become commonplace. There are currently over 22 billion IoT devices in use around the world, and surveys have shown that, on average, every Singaporean has 3.3 electronic devices.

This connectivity has transformed how we interact and engage with the world around us, and the average person spends over 12 hours a day glued to their electronic device.

The speed with which technology is evolving means devices often become outdated within a few years, so consumers are constantly upgrading to the latest smartphones.

When upgrading a phone, most of us will either pass our older models to a friend or family member or sell them to use the cash to upgrade their model.

When it comes to selling your phone, there is a wide range of areas that can affect the resale value, and here are the top 6 factors: 

1. The brand

This is one of the most significant aspects that can affect the depreciation value of your phone. Premium brands such as Apple and Samsung are able to hold their value for a lot longer compared to other brands, ensuring you will be able to get the most return on your phone.

2. Phone's popularity

Another key factor in determining the value of a second-hand phone is the popularity of that particular model. The newer the phone and the higher technology that it features, the higher the price – for example, the FaceID technology on the iPhone X ensures that the phone is able to hold its value for much longer.

3. The phone's condition

The better the condition of the phone, the higher its value will be. This is one of the key things that evaluators look for when deciding a price, and scratches can decrease a phone’s price by up to 20%. Keeping a protective case or using tempered glass will help you to maximise your phone’s value.

4. Functionality

5. Having a complete set

When purchasing a second-hand phone, consumers want the complete package. By having the original box, headphones, charger and cables, all in good condition, you can increase the overall value of your phone.  

6. Finding the right buyback partner

When trying to maximise the amount you get for your phone, it is important to ensure that you are using the right partner. You can post your phone online to try and sell it, while various telecommunication providers such as Starhub and Singtel offer customer’s trade-in offers. Most mobile stores can also provide customers with a buyback service.

Looking to sell your mobile phone?

Selling your phone online or through a physical store can be a time-consuming and slow process. Here at SellUp, we offer our customers a unique method of selling their phone within 60 seconds through six simple steps:

1. First, select the brand and model of your phone.
2. Evaluate the condition and any functional issues with it.
3. Select the accessories that you have.
4. Compare the highest offer from our trusted dealers in Singapore.
5. Choose to walk-in to one of our stores or opt for home collection.
6. Get paid instantly on the spot.