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

Used Smartphone Buy-Back Trend (Mar 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

The global smartphone market is expected to decline by 5% in shipment due to the current COVID-19 situation.  Component shortages, factory shutdowns, quarantine mandates, logistics, and travel restrictions will create hindrances for smartphone vendors to product handsets and roll out new devices. 

The strict movement restriction measures significantly impacted countries such as China, which sees a drop of nearly 20% in new handset sales. 

Apple has announced a shutdown of its retail stores worldwide to curb the spread of COVID-19, thought their online store is still in operation. However, brands that are reliance on offline sales channels are more affected than others, such as OPPO and Vivo. 

So how do all these actions affect the buy-back price of used phones? 

Apple closed their retail stores amid COVID-19 pandemic
Hundreds of millions of potential customers are now in lockdown – or unwilling to head to the shops. In Singapore, handphone shops are categorized as non-essential and have to comply with authority to shut their business. These restrictions cause dealers to slow their purchase of used phones as they may not have the channel to sell out.

On the other hand, online retails may decide to offer ‘generous’ discounts to boost sales on new handphone set, which causes the price of the used phone set to plummet further. 
Non-essential shops must comply with Singapore government to closed their business during "Circuit Breaker" period.
iPhone XS and XS Max see the most drastic drop of about $200, nearly 30% of the phone value. When XS and XS Max launched in 2018, it was touted as ‘very expensive’ and ‘battery life not as good as some competitors’. Though lacking in wow factor, they still did pretty impressive in sales.

Despite these setbacks, we still see a high sell-off even with the gradual decrease in price.  
iPhone XS / XS Max

We notice iPhone 7 and 8 Plus are pretty resistant to the price erosion caused by the economic downturn. The value is the least affected among the top ten models. This proves the popularity of the series.

Huawei P30 Pro and Mate 20 Pro made it to the list as well. The high volume of buy-back is expected due to the launch of the new P40 series. Many upgraders have trade-in the older models for the 50MP and super-zoom telephoto camera phone. We foresee the trend to continue in April. 

Overall, we expect the buy-back price will continue to slide due to the month-long stay home measures to curb COVID-19. 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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