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. 

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.  

Where To Sell It 

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.