Mobile Phones are now a big investment for us all – period! Whether you stumped up the cash upfront or spread payments over a contract, the average cost of a mobile phone is $400
A new phone is definitely a serious, informed purchase. So it is really important to make sure you are aware of the key times when your phone could be at risk of losing big amounts of value to ensure that you get the maximum amount of cash for your phone
Will My Phone Keep Declining in Value?
The answer simply is yes! It’s no great mystery that mobile phones quickly depreciate in value as soon as you purchase and open the box. To get maximum value, the newer the phone the more a Mobile Phone BuyBack company will pay for the device
Similarly to cars, tablets and lots of technologies there are constant updates to the phones operating systems and functionality presenting users with enhanced options and as a result users look at newer versions
As a phone is a large investment, it is key to plan the time when your phone could be subject to the biggest losses and ensure that you are selling your phone at the optimal time and getting the very best amount of cash for it
Phones Lose their Value the Fastest in the first 12 Months
Brand new phones often see the greatest and fastest losses in value in the first 12 months since release. As an example, roughly around 10 months after the release of the iPhone 7 the prices of the handset dropped by circa 54%
Even Samsung phones have seen some big losses in the first year since the release. The Samsung Galaxy Note 8, for example was released to the public to buy on September 15, 2017. In just 4 weeks in the October, there were price slashes of $99 already
Phones Decrease Radically in Value as an New Model is Released
Phones undeniably lose their value with age, but one of the key reasons for the loss in value is around the manufacturer’s annual launch of new devices. Most major manufacturers release brand new phones every year, so the old phone has to make way for the new phones higher value and therefore will lose some of the original ticket price
With recent Apple launches the price of older iPhones can drop by over $100 in the first week that a new release has been announced according to our data
The clear message is that ALL phones don’t hold their initial ticket price for long – and there are heavy drops to make way for new phones on the block
How do I Time the Sale of my Device around the Launch of a new Phone?
It’s easy to work out the best time to buy a new phone and indeed sell your old one, if you remain loyal to the same manufacturer. From previous years there are clear times each year when manufacturers announce and pre-launch a new range of phones, Apple usually September each year and Samsung around February to April
So, a smart time to sell a device to avoid big losses in value is around two weeks prior to the launch of a new device. Our research indicates that the day after the launch announcement the value of the older models can lower by $100’s specially across Apple devices.. Ouch!
So why not borrow a phone from a friend for a few weeks and sell before that all important launch occurs. Most BuyBack companies will offer 14 days to send in devices – and hold the value initially quoted, so this may also help to void the gap between when your phone is sold and getting that all new device . So don’t leave it too late and avoid the big crashes in value
An Older Device May be Worth Less as it Develops more Faults
Another real downside to holding on to the phone for too long is that not only is there an organic depreciation in value, but there is also a greater chance that the device can be scratched, damaged or the battery can also wear down
Over time batteries, charging ports and chips in devices naturally run down, erode and deteriorate, which will lessen the overall value of the phone
Cosmetic and functional issues can cause a substantial loss of value and sometimes this can be caused by holding onto the device for too long
So, When is the best time to Sell my Phone?
The best time to sell your old phone is straight away. As soon as you are thinking of buying a new one or if it becomes redundant.
Your old phone will not increase in value sitting on a shelf, so the quicker that you can get the phone sold will ensure a better value
Also, make sure to get the maximum value for your phone avoid the the periods where big loses can occur!
So there really is no time like the present to look at getting your old device sold to get the maximum value!
So if this information has prompted you to review the options available to sell your old phone, visit the US’s largest mobile phone & tablet trade-in comparison site SellCell.com
Here you will be presented with the very best prices available for your old device across all of the US’s most established BuyBack companies – all on one place
Don’t hesitate, and make that extra cash today! Visit SellCell.com