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3 questions to ask before selling your Smartphone

3 questions to ask before selling your Smartphone

 

The trend of selling and buying used smartphones is on the rise. In 2016, studies estimate that consumers sold or traded in over 120 million devices, a marked increase from 80 million devices in 2015. 

If you’re thinking of selling your phone to either make some cash or upgrade to a new device, there are a few important things to keep in mind before you make the decision. Consider these factors to ensure your phone sale gets you as much profit as possible.

How Much Money Can You Make?

Naturally, all phones maintain their value differently. Even if you paid $100k for the latest 2017 model, it might now be obsolete after the latest edition hits the market. In a study done by Deloitte Global, they found that the average trade-in value per device for about $140k. This obviously varies quite a bit depending on make and model, but it’s a good starting point when trying to plan your budget.

Where Should You Sell It?

Because you want to get the best price possible, you should carefully browse the market before committing to a certain sale method. The easiest method is probably to sell it directly to a phone retailer. There are a number of phone retailers that will buy your phone.

However, to get out a bit more profit, try selling to an individual buyer. The only problem with this method is that it takes a little more time and effort. You’ll need to upload a lot of pictures and information about the phone, as well as spend the time to find someone interested. Check out sites on facebook where you can set your own price and wait for the buyers to find you.

What Precautions Should You Take?

Once you have a good estimate through a reputable phone retailing company, there’s a few things you need to do before giving them your device. You’ll need to delete everything off of your phone so that the new owner doesn’t have access to your private data. After backing up your photos and other documents, perform a factory reset to completely wipe everything. If you have an iPhone, you may need to go a step further and disable your Apple ID so that another person can use the phone. Lastly, remember to remove your SIM or Memory cards, as these both hold important information. Now, your phone will be in a blank slate for the next user. 


Technology continues to change daily, and selling your smartphone helps you stay up-to-date with the latest devices.

 




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