To sell or not to sell, that is the question!

27th April '17

The estimated value of a second-hand gadget, like everything else, depends on the extent of the other person’s requirement. As most of the present day gadgets are outlined as disposable rather than serviceable and reliable for a long-term, they wind up being obsolete rapidly.

So, are you planning to replace your old phone with a new one?  The most confusing problem that comes along during this exciting transformation is ‘what to do with your existing phone?’, ‘to sell it or not to sell?’ Well, your mind gets flooded with several options as to what you can do with it. You can keep it as a spare, or give it to a friend or relative, or donate it, OR you can sell it and get some bucks in return for your used device.

The answers to these questions vary depending on a lot of factors. If you opt for the last option: to sell your device, you need to assess a few things:

Here are a few questions you should be asking yourself to get maximum cash for your device:

 

  • For how many years or months have you used it?
  • How old is the model with respect to its releasing date?
  • How popular is your device in the market today?
  • On a scale of 1 to 10, how good is the condition of your phone? With 10 being the best and 1 being the worst.
  • How easily is it available in your local market?
  • Does it possess something that makes it stand out? Memory or a variant that is short in the market.
  • Whom are you selling it to? You might get more money by selling online than to sell it to a dealer in your local market.

 

Before firming up on selling your device, you must analyze its market value

There is no set formula to calculate the market value of your device. However, you can still get a rough estimate by evaluating the condition and model of your phone. You can do your market research in two kinds of markets: local market in your neighborhood and the online market.

·        The local market value of your Device:

Survey your local gadget market and inquire the prices of similar devices in different conditions. Another factor that affects the market value of your used device is its availability in your local market. Sometimes, a few models of a device or a particular variant are short, resulting in an increase in the market price of the device, even if it is pretty much used.  In any case, you can assess the market price of your device by doing an on-ground survey. Research the selling price of comparable devices in your local market.

·        Online Market (Websites like CIYP):

These websites can help you in getting a better range of prices at which people are selling devices like yours (In terms of both condition and features). Find a bunch of comparable items on these sites and note down what the sellers have priced them for. The research and survey you will do online would be more authentic and transparent than the ones done in your local market, since it eliminates other fixed costs. Find at least three devices that are comparable to yours in terms of condition and features and find out an average selling price.

After this evaluation, you have the results, as well as, your device in front of you. Set up a minimum and maximum range for which you want to likely sell your device. If selling your device is getting you enough money, then you should definitely go for it! Otherwise, you can keep it stashed. Just remember that the value goes down with time, and its functionality can become obsolete very quickly, and soon won’t be sellable.