Saarah Rasheed

How do reselling companies determine the prices? People usually have a knack for changing their cell phones every now and then, either because better specifications are available or your old phone is a bit too old and rustic now. And so it happens they switch to newer phones and newer brands. That is all okay but what about the cell phones left behind? Well, we have a solution for that as well. Second hand cellphones have a huge market as well, where phones based on the degree of damage and age are bought and sold very frequently. This allows people to purchase expensive brand phones in much cheaper rates and be able to sport an expensive brand nevertheless. Although this may seem very attractive, to sell your old phone and make some money out of it, there are certain parameters one should keep in mind while doing so in order to avoid possible scams of having sold at an understated price or having bought an overly priced old phone. So we have broken down some factors for you to understand how companies who deal in reselling old phones, determine the price of your cell phone or electronic device, which are listed as follows: Degree of Damage: Degree of damage is one major factor which inversely correlates to the price of the phone. The greater the damage, the cheaper the phone. Companies usually grade the damage intensity into three basic categories: Mint / Excellent Condition: A phone which works perfectly fine, has no scratches of marks whatsoever and no software or hardware based flaw whatsoever. It usually includes all original accessories that came with the original phone Working / Good condition: A phone which has a small degree of damage in terms of minor scratches, touch / flash / camera problems or a charging issue. These phones though turn on and off fine and come with original accessories. Not-working / Bad Condition: A phone which won’t even turn on and off and has taken on considerable amount of damage including water damage or missing parts, network and connectivity issue. All of these conditions are some factors that help determine the price. Mint condition ones are likely to sell within 75% to 85% of the original price. Whereas, good condition may go as low as 50%. Bad condition phones are sold at very low prices almost close to 10% of the original. Demand and Age of the Device: Age of the phone means how long has it been used. Mostly those with age less than 6 months are mint condition ones and have sustained close to no damage at all. Whereas, older ones spanning out to over 3 years may likely be in a bad condition. Another factor that counts is the demand of the phone. Some sets have a considerably high demand due exclusive features hence are priced higher than those which often experience technical issues being priced much cheaper. These factors help a company dealing in reselling phones price them accurately so as to not lose a fair profit margin or give away a good phone at a much too cheap price.