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By Charles Duke
Special to the Financial Independence Hub
Selling a used smartphone is an excellent way to make some extra bucks and buy recently released phones. Today, phone prices drop drastically (sometimes by 50% in a month) as soon as new devices are released. This rapid depreciation allows buyers to find flagship smartphones at modest prices when they appear on the used market. Buyers are even more likely to find better bargains when they buy phones that are a couple of years old when new devices are launching.
There are numerous sites to help users sell their old smartphones, including sellmymobile.com. Here are the prices buyers should expect when selling different phone models:
Apple iPhone
The price of an old iPhone depends on the model and where you want to sell it. Sites like sellmymobile.com should provide a range within which you can sell the device. Generally, private sales make more cash than shops or online retail stores since they need to mark up their sale prices. Sellers can expect more when selling the iPhone 6S, max models and high capacity phones (i.e. more than 16GB of storage). Other features that increase the value of an old iPhone include:
- The condition of the Apple device
- An unlocked handset (Apple phones tired to a network). Users whose devices are tied to a network should consider unlocking it before selling.
- If the battery has been replaced. Apple offers to replace batteries on iPhone models from version 6 and above for £25-£29 only.
Samsung
Samsung is known for its flagship Galaxy Note and Galaxy S series. The manufacturer develops high-end devices that can be out of reach for most people. As a result, many users opt to sell past generation Galaxy phones, which are often still in demand in a bid to purchase the latest phones. Prices vary from one site to another, and the longer the user waits to sell the device, the less money it attracts. Galaxy S4 for example retails at £133 on AT&t (black), £78 on Sprint (blue) and £151 (white) on T-Mobile.
OnePlus
The manufacturer is known for making smartphones with high-end components and features without charging high prices. However, smartphones have lost popularity over time with prices plunging to as low as £ 40 for the OnePlus 3.
LG
Most LG users sell their old phones using the manufacturer’s buy-back program. The program allows users to earn cash and buy the latest devices. It also supports all carriers, i.e., AT&T, T-Mobile, US Cellular, Virgin Mobile, Boost Mobile, Cricket and MetroPCS, among others. The flagship smartphone series for this company is the G2, G3 and G4 models. Additionally, unlocked T-Mobile, Verizon and AT&T smartphones hold value longer than Android phones on carriers. Users should also ensure the IMEI or ESN of the phone is clear for activation on new wireless plans. As such, it can’t be reported stolen or lost and should not have an outstanding balance.
Oppo
Oppo is ahead of the curve when releasing new devices. It was the first company to introduce 5MP and 16 MP front cameras, 5x dual zoom technology and rotating cameras. As such, buyers of used devices are likely to find a pretty good bargain for used models. Find X, the company’s latest phone retailed at £1099, but users can now find a second-hand version at only £220. The smartphone has 8GB of RAM and 256 GB memory and is powered by a Qualcomm Snapdragon 845 processor.
Huawei
The market for used Huawei smartphones recently took a plunge since the US suspended the use of Android OS on its mobile phones. As such, buyers can take advantage of potential bargains as phones have dropped by £200-£300 since the ban. The P30 Pro, the manufacturer’s latest phone, now retails at £100.
Charles Duke is a content writer, covering topics relating to technology, investing, business and finance. He specialises in online article copywriting and has produced work for countless blogs over his 6 years of writing for the online community. He has a particular interest in psychology and behaviour when it comes to people and money and enjoys looking to the past for lessons that can be learnt from history.
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