Factors that influence your phone’s resale value

Many retailers and brands offer lucrative exchange offers on old smartphones when purchasing a new one. However, the value depends entirely on the condition of the old device. Exchanging an old phone is a responsible way to reduce e-waste and also bring down the purchase price of the new phone. 

The second-hand market is thriving in India due to the rise of marketplaces and buyback programs. Both the buyer and seller have the power to decide on the cost of the device. For sellers, understanding the several interrelated factors that influence the resale value is crucial when upgrading to a new device.

These include the phone’s physical condition, brand, and accessories. Additionally, timing your sale strategically can help in maximising the returns. 

Factors that influence the phone’s resale value

Selling your smartphone is a convenient way to monetise on the old device and offset the cost of a new one. We list down the main factors influencing the value of the older phone when it’s time to part ways. 

ALSO READ: Selling vs exchanging: What to do with your old gadgets and appliances

Brand

Market demand and timing

Physical condition

Ownership period

Accessories

Battery, storage, and software

Brand

Brand is a crucial factor that influences the phone’s resale value. Apple’s iPhones and other devices, too, command a higher value even after years of use compared to Android devices. This is because of the company’s popularity and longer product lifespan. Samsung, Google, and OnePlus also tend to do well in this aspect.

Consumers get a sense of trust and are confident in owning a second-hand device from a reputable and reliable brand. Hence, they’re willing to pay a premium, which boosts the smartphone’s resale value. 

Market demand and timing

A second-hand phone may not sell well during the festive season, which usually sees plenty of offers and discounts. Consumers might opt for owning a new phone instead of going for a used model.

Hence, it’s necessary to strategically plan while selling a smartphone. Timing also greatly influences the resale value. Selling the device just after the launch of a new model can reduce its market value. 

Physical condition

Smartphones wear out over time. Cosmetic factors such as dents, cracks, and scratches on the screen and body affect the device’s resale value. Functionality also matters as buttons, ports, cameras, and speakers must be working properly. Smartphones even start experiencing performance lags as the hardware ages. So, if your phone is running on an older processor, it may not fetch a higher value. 

Age of the device

Ownership cannot be ruled out, especially when tech continues to advance regularly. Think about the camera advancements, premium displays, and powerful hardware from a few years ago to all things around AI capabilities currently. Furthermore, OEMs are always striving to bring flagship specifications to the mid-range budget segment.

So, if your phone is more than two years old, then its resale value might be affected. Buyers would prefer to have a new condition phone at the same price as they come with several new features. 

Accessories

Buyers often perceive more value in a second-hand smartphone (applies to other products too) when it is available in the original packaging box. Bundled accessories, such as the original charger and cable, can add to the resale value. Additionally, cases and screen protectors can make it an appealing offer for the buyer. It also gives an impression of careful ownership. 

Battery, storage, and software support

Phones with base internal storage preferably above 128GB have a higher resale value. Higher RAM also ensures a smooth performance. A battery is a degrading component in any gadget.

Hence, if the phone has been a few years old, there’s an anticipation that the buyer will have to bear replacement costs. If the smartphone has reached the end of software support, it might deter buyers and prevent them from paying a higher price for a second-hand device. 

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Keeping the aforementioned factors in mind can benefit both buyers and sellers. For sellers, it provides clarity on how to maintain and position their device to command the best possible price. Buyers can use the tips to identify what to look for in a used phone without getting scammed.