Used Smartphone Buy-Back Trend (April 2020) - SellUp - Blogs

Used Smartphone Buy-Back Trend (Apr 2020)

Introduction

Every month we put together the TOP TEN mobile phones being sold through SellUp. We hope this guide will provide you a price guide of the most traded-in smartphone in Singapore monthly.

The table also provides a comparison of buy-back price from the previous month.

*The average buy-back price is based on SellUp collection from local sets and Grade A condition (No dent, no scratch and in working condition) 

Current Trend

As COVID-19 situation continues to take its toll on business worldwide, Singapore businesses were not spared from its path of disruption too. 

Singapore government implemented a series of strict measures to contain the spread of the virus among the community. In early April, a 'Circuit Breaker' was introduced to reduce the movement of people. Many non-essential businesses were asked to halt their operation till 04 May. (It was later announced to extend till 01 June). 

Among the non-essential company that is required to shut down, electronic stores and phone dealers are not permitted to operate during the circuit breaker period. This causes a slew of panic as business owners scramble to make sense of what's happening and hastily organize their business to reduce the impact of overstocking. 

Shops to remain shut till 01 June 2020.
Shops to remain closed till 01 June 2020
The buy-back phone price drops drastically in the early part of April and only regains gradually after the dust settled. Although most of the phones lose their value over April as compared to March, the amount lost is considered moderate during this period of uncertainty. Let's take a look at the number. 
It is one of the few occasions that Samsung device make it to the top spot in our monthly buy-back trend. Although Samsung Galaxy Note 9 drops about 20% of its initial buy-back value, there is still a massive volume of people selling it. 

We did some preliminary findings into telco offering and see some service providers are enticing mobile subscribers with a $0 upfront for its Samsung Galaxy Note 10. This offer may be one of the reasons for users to upgrade their phones. 
Samsung Galaxy Note 9 with S-pen
Samsung Galaxy Note 9 with S-pen

Apple, as usual, can hold its value well. The depreciating amount somehow recovered to normality as compared to March. iPhone 8 loses its value just slightly above 10%. The recently announced iPhone SE (2nd Gen) was launch with a very similar design to the iPhone 8. Apple merely upgrades its processor (A10 to A13) and camera. I am sure iPhone 8 will remain a hot favorite among the used phone market as a replacement for iPhone 7.

iPhone SE
iPhone SE available in Black, White and Red
Huawei, once dubbed as an iPhone killer, continues to defy odd against this Chinese company. Even with the trade ban from the US, it continues to wow consumers with their dazzling design and superior camera performance. (Huawei can't preload any newly released phones with Google apps like Maps and YouTube, the Play Store or Google Assistant).

We noticed a high buy-back demand for Huawei Mate 20 Pro, P20, and P30 Pro. Either consumer is ditching Huawei for other brands or upgrade to Huawei newer models – P40 and Mate 30. We believe the latter is more likely.  
Huawei launched P40 and P40 Pro in late March 2020

As we continue into May, we should see the price stabilize and consumers more ready to use online to sell their phones. SellUp will continue to provide our on-site pick-up service during the "Circuit Breaker" period.

To further protect our customers, we have implemented measures for our collection agents to put on face masks and taking temperature daily. 

As always, we want to bring the best convenience to you, even in this challenging time.

Stay safe and do your part by staying home. Together we can stop the virus.

How Much Is My Device Worth Now?

You can check your device value as according to its physical condition at www.sellup.com.sg. You can locked in the trade-in value for up to 7 days. Check it out now

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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