Top 4 Things that Affect Your Smartphone’s Appraisal/Resale Value
Mention the brands “Apple” or “Samsung” to any Filipino and you’ll find a twinkle of familiarity in their eyes. Not all Apple and Samsung smartphones are created equal, though. So don’t rest on your laurels, count your chickens, and all that, just yet. Here are four things that you need to know before you bank on it for your next cash loan.
1. The brand that you bet on.
A recent On Device Research study found that Samsung holds the highest market share in the country at over 43 percent. Apple also stands pretty popular with many Filipinos readily associating ownership of their iPhone with affluence. Unsurprisingly, smartphones from these brands command the highest resale prices. This becomes very obvious to anyone in the market for a second-hand older-model iPhone: those things still cost a lot!
2. The model that you have.
Before you get all excited about having that Samsung Galaxy S Beam you’re keeping, you have to realize that value doesn’t just stop with the brand. The specific model paired with the brand can significantly affect its value. While there are very rare exceptions, it’s usually the latest and greatest models that command the best prices. Seriously, though, don’t get too excited about that S Beam—it isn’t worth all that much.
3. The state of your gadget.
Even IF you do have the latest and greatest model from the biggest name brands, the price drops significantly with every bump and bruise on your unit. While many will peg this to a matter of aesthetics, it also boils down to the possible causes behind those bumps and bruises that make people wary to spend higher. It’s hard to convince someone that something is in “working order” when there’s a huge bump in the corner and cracks on the screen.
4. The package.
You might not want to just up and sell your phone, but for some, “buy-and-sell” is a lucrative business. Having all the cables, documentation—yes, the ones you don’t read—and especially the original receipt, will fetch you more money than just the unit itself. You get bonus consideration (and leverage in negotiation) if these are all in near-mint condition. As an extra tip, know that any missing component will usually get people haggling with you to lower the price even more.
“Resale value” starts to matter when you have to depend on that “value” of your smartphone to help out with your monthly expenses. As one of the more valuable and bankable items many Filipinos can leverage for cash, it pays to be aware of these four factors that affect the appraisal of your smartphone should you need it to generate funds quickly.
If you do need to generate funds quickly, you might want to consider pawning your gadget with PawnHero rather than outright selling it. We offer higher appraisal values versus your standard brick-and-mortar pawnshop. This allows you to maximize what you get for your item. Experience the difference with this quick, easy personal loan experience. Try it for yourself with our online appraisal form. It’s absolutely free!