How To Sell Your Used Device at the Best Value? - SellUp - Blogs

How To Sell Your Used Device At The Best Value?

Introduction

Singapore has one of the highest smartphone penetration in the region, with more than 90% of adults using a smartphone. As new smartphone models launch every year, getting rid of the old set has become a yearly, if not bi-yearly affair.

Now the same questions will pop-up - how do I get the most value out of my used smartphone?

In this article, we will discuss the channels and some tips for you to go about achieving it. 

GIF- Man flashing out money

When To Sell It

Timing is key. There is a release cycle for every manufacturer – Apple launch their iPhone usually in September or October; Samsung Flagship Galaxy phone in February or March. 

Your phone will be at its lowest price after the new model becomes available. Why? There will be plenty of sellers getting rid of their current phone to upgrade. This cause a surge in the supply; hence buyers have more option to bargain down the price for the used device. 

There are three things to bear in mind if you wish to sell before the new models hit the market. First, know the launch date of the new smartphone you intend to purchase. Allow yourself one month to sell off your current set before the new model release to the market. Secondly, ensure you have a spare phone to use for at least a month since you will be selling off your current device.

Lastly, check if all your personal data and essential contacts are correctly back up. It will be disastrous if you are unable to port the data to the new phone.  

How To Backup iPhone and iPad
GIF - Timing is everything

Where To Sell It 


There are generally 4 channels where you can sell your phone to:

Peer-to-peer marketplace

Carousel, Gumtree, and Hardwarezone are platforms where you can sell your device to the end-user.

This method commands the highest value as there are no middlemen to take any cuts off the margin. However, you have to consider the downsides of this approach. Is it worth your time? Will your data be breach in the hands of a stranger? Is the person who offers a high price a genuine buyer or a scammer?

If you are not a techie or someone who cannot afford to waste time answering one thousand and one questions from strangers, we suggest you to forgo this option. 
 

Handphone Shop (typically in Heartland area) 

These are the shops (some are counters) that set up in heartland areas such as Ang Mo Kio, Toa Payoh, Tampines, etc. The shops are set up less than a stone throw away from each other, and this causes intense competition to grab customers from each other.

You can walk from shop to shop to seek the best deal for your device, provided you can spare the time and endless bargaining for 'best price'.
 

Manufacturer or Telco Trade-in  

This is one of the most straight forward ways to get some value from your phone. Received the new phone from manufacturer or telco, transfer data over from old phone, send your old phone back to them, received cash.

However, there are two factors to take into consideration. First, you do not mind the low trade-in value. Secondly, it is a trade-in scheme which means you have to purchase a new set before you can sell your used phone. This method will not allow you to sell for extra cash. 
 

Online ReCommerce

Having examined the issues from traditional channels, online ReCommerce, SellUp, has offered an alternative to resolve two main concerns of sellers – convenience and competitive buy-back price.

SellUp provides an online evaluation tool to get an instant quotation based on the condition of the phone. Afterwhich, a list of buy-back price will be presented for selection. The prices are offer by Registered Secondhand Dealers in Singapore to ensure seller's safety and authenticity of the buyer. Lastly, simply books an appointment to walk-in to stores or on-site collection at the seller's home or office, and cash will be payable on the spot. 

How To Sell At Highest Value 

No matter which channels you decided to sell your phone, it is essential to maintain the best condition of your device in order to get the highest value. These are some of the tips to bear in mind: 

Always buy a protective case. 
Yes. It may look bulky, and some may find it ugly. But hey, you want good value selling your phone, right? Any scratches and scuffs will see your device value drop at least 10 – 30%. Not to mention a good case can take some knocks if your phone dropped onto the ground. 

Buy a screen protector
If you really hate a protector case, the least you can do is to buy a screen protector. A good tempered-glass protector can be purchase as little as $5. And it will be a good investment in the situation if you drop your phone. A cracked screen will set you back as much as a few hundred dollars for the replacement of parts. 

Keep the box and all the parts
Selling a phone with original box and unused accessories is a big plus for the buyer. Do you know an original iPhone earphone with a 3.5mm plug is selling at $45 on the Apple website?

If you have these accessories unused and wrap in its original condition, you will be surprised buyers are willing to offer another $10 - $30 more for them. 

Clean your phone before you sell it 
Who wants to buy a dirty and germs covered phone? Especially with the COVID-19 going around, hygiene is an utmost priority now. Enough said. Go clean it! 
7 Easy Steps for a Germ-Free Smartphone
Repairing a cracked screen could be worth it 
Whether to repair a cracked screen phone depends on if the repair fee outweighs the selling price. For example, Samsung S7 glass screen replacement cost $68. The market is offering $60 - $80 to buy back this device, provided the set is without scratches and full accessories. The marginal returns in value show no incentive to repair and resell. On the other hand, Apple iPhone 7 (32GB) cracked screen cost $60 and can be resold for $130.

In conclusion, find out the repair cost and resale value before committing the restoration of the device.  

iCloud and password are unlocked 
No buyers will offer to buy a phone that is unable to log in. (unless the buyer is getting it for parts, but they will offer a meager price for it).

Ensure your device is sign out from Google Store and iCloud. Also, the password is reset, and the smartphone restores to factory settings. 
How To Restore iPhone or iPad To Factory Settings
In a nutshell

Sell before the new models hit the shelves.
The longer you hold on to your phone, the less money you are likely to get for it. In some cases, the device may be worth zero value even though it is in working condition. Example, iPhone 4 and Galaxy S4.  

Channel 
Consider the pro and cons of the different channels to sell your device. Decide fast and sell it as soon as possible. 

Device condition
Get your device protected from day one, clean it regularly, and perform a factory restore. These simple actions will allow you to get the highest value possible. 
In conclusion
Do not merely compare the options by just the price. Price is subjective, depending on what you are comparing it with.

You may make an extra $10 or $20 more after combing the whole neighborhood but wasted an entire afternoon doing so. Is it worth your time, energy, and effort spend to get a device sold for the extra bucks? Can the time be used on other activities that provide you with more satisfaction - time with family and kids, time for exercise or engage in your hobbies, etc.

If your answer is to have a peace of mind and effortless selling, you know who to look for. 

Need help?

Let us know if you have any queries on our service. Whatsapp or call us at 9336 0575 or email us at service@sellup.com.sg

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