The Safest Platform To Sell Your Used Phone

Introduction

'E-commerce scams on online marketplace app jumped 136 percent in the first half of 2018'

'Number of criminal cases went up to 16,460. Majority involved electronic items' 

'After receiving the mobile phones, the suspect discontinued the online transfers and remained uncontactable.' reported Channel News Asia.

This news has been making headlines as the number of transaction over internet increase, especially with the popularity of the online marketplace platform.

How do marketplace work and what are the things to avoid and look out for when transacting on these sites?

Peer-to-Peer Marketplace

'A Peer-to-Peer Marketplace (known as P2P) is a decentralized model whereby two individuals interact to buy sell goods and services directly with each other or produce goods and service together, without an intermediary third-party or the use of an incorporated entity or business firm' according to Investopedia.

In short, you are performing a transaction with another individual based mainly on trust that they will fulfil the promised given.

Very often, there is no strict regulation to ensure you are transacting in a safe and scam-free environment. 

P2P Marketplace in Singapore

Understanding the Risks

Most online marketplace are stepping up measures to prevent and minimize the risk of scam. Some posted guidelines on how to stay safe on the platform and tips for meeting someone in person.

No matter whether you are the seller or buyer, always bear in mind that you are dealing with a stranger that you never met and didn't even know them. 

Never provide bank account numbers or credit card numbers to anyone you do not trust or have not checked out beforehand.

Scamalert.sg has a good resource where you can read more on How To Protect Yourself Against Online Scam.



Other than risks of being duped, there are many sellers who met with irresponsible buyers. These buyers often display characteristics of being rude and impolite during negotiation.

Some may arrive late for meet up or even worse; did not turn up at all! 

And if you are able to meet up with the buyer, there is still the negotiation phase where they may scrutinize the item in order to bargain for a lower price.

And finally, when you think the process is complete and manage to sell your item away, there is a chance buyer wants to return the item back citing fault occurs after a few days of usage. 

Is It Worth Your Time?

There are many incidents where the selling on online Marketplace platform can be a traumatized experience.

Of course, some of these cases are an extreme scenario of what may happen, but is it necessary to take all these risks to sell a used phone?

Is There A Better Way To Sell?

A Singapore-based startup, SellUp, may have the solution for you. 

Instead of having to go through all these hassles, SellUp provides a safe and reliable platform that allows you to sell your used phone effortless. 

Simply visit their website to evaluate the buy-back value of your smartphone or tablet

Click on a few button to select the condition that best describe your device.



You will then receive a quotation immediately from their network of buy-back partners. 

All buy-back partners are Certified Licensed Secondhand Dealer by Singapore Police Force and also a Registered Company in Singapore. 

Next, proceed to make an appointment to collect from your home or office.

Their agent will verify the phone on-the-spot and if your phone is as described, you get paid in cash immediately. 

Conclusion