How much is my cell phone worth

Posted by on 9/21/2016
How much is my cell phone worth

It feels like cell phones become obsolete about a week after they hit the shelves. There's always a newer, better model on the way - and that means that you'll need to figure out how to get rid of your phone if you want a replacement cell phone. Below are 5 factors that can help you determine how much cash you will receive for your cell phone.

1. Sell or Trade

The first thing to look at when you sell your cell phone is the general setup of the business to which you are selling the device. If the business offers both sale and trade options, you can be sure that your phone will be worth more as a trade-in if you outright sell your phone. This is great for those looking for a cell phone trade in, but it definitely lowers the value of your device if you are looking to get cash. Be aware that some business' will only advertise a trade-in price, so the amount you expect to get when selling your cell phone won't match what you'd get if you are looking for a cell phone trade in.

2. Look at the Model

Perhaps the biggest factor in determining the value of your phone. As a rule, newer phone models are worth more than older models. Likewise, phones that have a higher memory capacity are worth more than those with lower capacity. This is probably the easiest factor in determining your phone's worth, as many sites have cell phone value charts that can tell you what the normal value of your phone will be.

3. Read the News

Another huge factor in determining your cell phone's price is what's going on in tech news. If you are going to sell your iPhone, you might not be too happy to see that the iPhone 7 is just around the corner. Then again, it might be a good idea to sell your iPhone now as audio enthusiasts rush to make sure that they'll get a device that still has a traditional audio jack. The news about Samsung's latest phone catching fire is another great example of how the news can impact phone prices - unless you are dealing with a cell phone buyback program, odds are against you getting anything for a disaster-prone phone.

4. Check for Damage

Most places that will offer cash for used cell phones want a phone that's in good working order. Outside of a cell phone buyback program, the odds are against you getting any money out of a phone that's a brick. However, even minor damage can greatly reduce the overall value of your phone - some places that offer cash for used cell phones will still pay you even if the device is completely destroyed.

5. Supply and Demand

Finally, start looking at supply and demand. If too many people are trading in phones, the odds are against you getting much for your device. On the other hand, if you have a rare phone that people want, then you can earn a fair bit towards your replacement cell phone. Knowing what others are buying and selling is perhaps the best way to determine when you'll get the most for your phone.

While it's hard to determine exactly what you'll get for your cell phone, you can always figure out when you'll get the most money for your device. Look to trade in your phone when the news is favorable, you've got a make and model that's in demand, and when people still care about the phone you own. This will always help you get more for your phone - and help you get the newer model with less damage to your bank account.

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