The average person changes smartphones every 22-24 months. Whether it’s time for an upgrade or you just cracked your screen, the first question on your mind is likely going to be “what is my phone worth?” Many factors determine how much cash you can get for your phone. Some of the things you’ll need to consider are the model, condition, storage capacity, battery health, and more.
That’s why we’ve put together this list of all the key things that will determine your phone’s value. So if you’re wondering “what is my phone worth” and “how can I get the best price on my used phone” then check out everything in this guide!
Before You Even Try to Sell Your Phone
You’ll need to run through this checklist to make sure your phone can be sold:
- Is the phone still under contract?
- Do you owe money on the phone?
- Has the IMEI been blacklisted?
- Have you restored the phone to factory settings?
- How you de-linked the phone from cloud accounts?
- Are you selling accessories like cases, cables,
and anything else?
- Note this is usually only important to private buyers.
Here are some of the key factors that will determine how much your phone is worth.
1) Is Your Phone Operational?
There are many shades of grey when it comes to determining a phone’s value. But the number one factor is whether the phone still more or less works. What does this mean?
- Phone powers on and holds a charge
- Can use the operating system and apps without issue
- LCD screen functions
- All ports such as USB-c, headphone jack, etc. are operational
- Major features such as GPS, Wi-Fi, LTE connection, and camera work normally.
No matter the age or model of the phone this will determine how much you can get for it. Put simply, retailers are more interested in fully functioning iPhone 8 than a completely smashed iPhone XS.
2) What is the condition of the screen?
When it comes to using a smartphone, the screen is the most important area. It’s where you do everything. That’s why one of the first questions buyers will ask is whether the screen is cracked or damaged.
Unfortunately, it does matter if your phone has a huge crack across the bottom or a small dent in the corner. Other than private buyers, most buyers are going to want an undamaged screen. In some cases, it may be worth it to repair the screen so you can get more money for your phone.
3) How new is your phone?
The smartphone industry is competitive. All of the major manufacturers like Apple, Samsung, Google, and Huawei all release new flagship phones each year. This has a two-fold effect on the market.
All previously released phones from each brand drop in price after the new phone’s debut. This also has ripple effects across the market for lower and higher-end phones. In short, the newer the phone is, the more you’ll get for it.
4) What is your phone model?
The difference between a top of the line Samsung phone and a budget alternative can be nearly $2,000. The same goes for most other manufacturers. High-end smartphones contain the best components meaning they hold their value much better compared to their low-end counterparts. Key things that will determine your phone’s value include:
- How much ram does it have?
- What is it’s storage capacity?
- What type of chip powers it?
- What type of camera?
- Are there biometric security features like fingerprint ID?
Higher-end phones hold the value longer because they’re not only more powerful but still supported by current operating systems. Likewise, the more popular a phone will also increase the price you can get for it.
Believe it or not, the phone carrier you use can determine the value of your phone. There are many reasons for this including the difficulty of breaking contracts, activating new plans, and other features. The first thing you need to do is make sure your phone is unlocked. This allows you greater flexibility in selling to buyers.
As mentioned, make sure that your phone isn’t still under contract and has no remaining fees to be paid off. Overall, factory unlocked phones purchased directly from Apple or other retailers will have the highest resale value.
6) What’s the Battery Health?
We can all remember when phones had external batteries. You could easily swap batteries, buy extras, and so on. Nowadays, most phones have a unibody design making battery replacement more expensive. So this is one of the key things buyers are looking for. What’s the health of the battery? Generally, the battery needs to be at 100% health and offer full charges for you to get the most value for your phone. Just as with the phone screen, it may be worth it to replace your battery.
7) Is the Phone Under Warranty?
Warranties provide essential insurance for people buying used phones. With new phones, you’re guaranteed quality. And if there is some problem, you can send it back to the manufacturer and get a replacement. Phones still under the original warranty provide that level of security for buyers. Not only that, but these warranties may also feature benefits such as reduced repair costs with parts and labour direct from the manufacturer.
8) What’s the Overall Condition of the Phone?
After the screen, battery, buyers will check the rest of the phone. Some of the things they look for will include:
- Is there any damage to the body?
- Are there any indicators of moisture or water damage?
- Are the headphone and USB ports fully functional?
- Is there any internal damage?
Some buyers may even open your phone to check for damage. Check and make sure this isn’t a violation of your warranty before letting somebody open it up.
9) What’s the Brand?
Everybody knows the biggest names in smartphones. Samsung, Apple, Google, and Huawei dominate the market. Other major companies include Redmi, HTC, Nokia, Microsoft, and Sony. If your phone is from one of these brands, there’s likely a market for it. That means you’ll be able to get a higher resale value. But that doesn’t mean there isn’t a market for some of the less well-known phones. You might just have to dig around a little more to find the right buyer.
Bottom Line: What is My Phone Worth?
Ultimately, many factors will determine the value of your phone. At the end of the day, it might help you to understand things better by taking the buyer’s perspective. You know better than anybody if your phone still has value.
If it still functions well, doesn’t have cosmetic damage, holds a charge, and is supported by the latest operating systems, you should be able to sell your phone quickly and at a fair price. Likewise, if you have issues with any of these things, you won’t get as much for your phone.
So if you’re ready to find out how you can get for your used phone, click here. Buyback Boss offers the highest price guaranteed for your used phone. And you can get cash in no time at all. After you get your instant quote, simply print out the free shipping label and send in your phone. Within no time, you get cash directly deposited in your Paypal account or a check in the mail. What are you waiting for? Try out the Buyback Boss easy and risk-free process now!
For more information on all things smartphone, cruise over to our blog. You can learn how to troubleshoot problems, where to find the best deals on phones, and a whole lot more.