Parting ways with your current phone could stem from a variety of reasons: using it for years, upgrading to a newer release, downgrading to win back some cash, or simply preventing it from collecting dust.
Be it an iPhone SE or a Galaxy S20 Plus, don’t just sell your device for some pocket change! Finding the best monetary deal for your aging phone somehow gives justice for its hefty purchase price.
You can opt to trade-in your phone to its manufacturer or carrier, or turn it to cash in secondary markets online.
On a report published by BankMyCell, 45.46% of an iPhone’s value is written off on its first consecutive years, with 23.45% of the value gone after the first year.
Meanwhile, Android devices with $700+ price tags are worse off, losing 71.41% of its value on the first two years.
(Note: Above numbers relate to trading-in.)
Phone depreciation has been trending depressingly thanks to technological obsolescence. Still, below are things within your control to get the best possible deal.
#1: Don’t risk it. Get a screen protector.
Say you have a functioning iPhone 7 Plus but with a visible surface crack. More often than not, an Apple representative can only offer you a max of $25.
That’s pennies on the dollar you paid and outright regretting.
iPhones and Android phones in mint condition make for the best resale value. Bad smartphone habits shall be kept to a minimum since these can cost you tens – if not hundreds – of dollars later on.
Part of it is indifference to tempered glass screen protectors.
A decent one can range from $7-$15 which appears costly for some, but if you think deep, it’s a worthy investment since it protects your phone from both screen breakage and price plunging.
#2: Remove your imprint on the phone, have it unlocked.
Purchasing a phone that’s unlocked spares you with the hassle later on. Unlocked phones fetch the best prices in the secondary market simply because they have zero restrictions from any company.
If you have a locked iPhone for instance, the FCC has simplified the process as long as your device’s installment payments have been fully paid to its carrier.
Meanwhile, rid your phone of the following elements prior to buyer inspection:
- Gunk – Soiled smartphones are unsightly. It sends a bad message about your usage. Gently wipe down your device, its box, and accessories with nonabrasive wipes. Price negotiation is easier with a clean phone.
- Your data – Utilize Google Photos, Drive, Contacts, and Dropbox for an Android phone, while iCloud and iTunes for an iPhone. Revert the handset to factory settings. These will keep your documents and privacy secure. Every buyer appreciates a clean slate.
- SIM & SD cards – Don’t forget to extract them from their respective slots. No buyer would want to be shocked and to have to return it to you after the deal. It’s for your protection too.
#3: Save all the accompaniments
The original charger is the most vital add-on you should have when selling to either carriers or individuals. The former though may not care for other mementos you have when trading in.
For individuals, sundry items like the phone’s box, wall charger, USB cord, earphones, and even the receipt are gems. It gives them that nostalgic feeling you have when you first bought the phone.
That, of course, nets better bucks than if you hand in only the phone and charger.
You can decide to throw in some other audio products or accessories, as long as those help swing the deal towards your asking price.
How to not lose them: Store your smartphone’s box and parts in a safe place right after purchasing it.
#4: Widen your search. Be patient.
Unless you’re badly strapped for cash, there’s no other reason to part with your pristine smartphone for a subpar price. Explore the market first and identify the form of compensation that will satiate you (i.e., cash or trade-in value).
Oftentimes, being uninformed of a phone’s prevailing price results to sellers being shortchanged and smooth-talked by opportunistic buyers.
The best money when selling a phone will always come from direct individuals, by way of seller-friendly sites like Swappa and Craigslist.
As of writing time, an iPhone 8 Plus in ideal condition has a maximum trade-in value of $220 under Apple Trade In. Meanwhile, the current rate for the same device under Swappa can go north of $300, but takes longer to sell.
It’s not to throw shade at Apple and Samsung’s trade-in programs.
They have distinct advantages like instant application of trade-in credit, and in Apple’s case, the iPhone Upgrade Program which allows for a cheaper way to upgrade after the 12th installment payment. But they’re just not the best options financially speaking.
Swappa is the way to go nowadays for best returns. Creating a listing is easy, and you’ll pay zilch as a seller, with the sale fee being shouldered by the buyer.
Your smartphone must pass their quality standards and ownership proof is needed before your listing can be viewed. Afterwards, prospective buyers can communicate with you.
Other noteworthy platforms: Craigslist (local, lets you save on shipping costs), Gazelle, Facebook Marketplace, Decluttr (provides free valuation), uSell (for damaged iPhones), etc.
The Takeaway
Brand new smartphones are never cheap. Hence, it’s unwise to leave money on the table when the time comes to sell it. Due care, timing, right platform, and negotiation skills all determine how deeper your pocket will be after the sale.
HLC Wholesale is your go-to online shop for quality cases and accessories preserving your phone for its next life. Drop by our website now and check our clearance sale.
