We live in the digital age, where there exists a huge range of technology products and constant upgrades created for items like smartphones.
In factm the global marketplace for tech goods and affiliated services reached approximately $3.5 trillion in 2020, with the software segment alone comprising $901 billion of this total sum.
There’s a pressing need to resell and recycle such devices (particularly smartphones) in the current climate. But can you do this for a profit? Let’s find out.
What Affects the Value of Electronics?
Before you can sell your devices for a profit, you’ll need to understand the factors that will directly impact the value of electronics.
Firstly, it’s imperative that your device has a clean ESN (equipment serial number). Each device or consumer electronics item should have a unique ESN, which indicates its origin and readiness for use after being activated.
Items without a clean ESN may be perceived as being either stolen or not fully paid for, deterring buyers from making a firm commitment.
Beyond this, other key factors include the age of the items and their condition. This is arguably the single most important consideration in the corporeal market, as it sets the market value for items and determines what buyers will expect to pay to receive the goods.
When it comes to age, this is particularly important in the case of smartphones. After all, regular upgrades tend to devalue older handsets, especially once they can no longer accept new operating system updates.
What’s the Best Tech to Resell for a Profit?
There are various reasons to resell your tech items, especially in-demand items like smartphones and tablets.
Aside from the desire to recoup cash and bank money by monetising otherwise unwanted items in a saturated market, looking to sell your old smartphones also opens you up to incredible levels of demand.
Particularly high levels of demand also increase your opportunity to sell items for a profit, so long as this increases at a similar or faster rate than the corresponding level of supply.
Selling items to sites that pledge to recycle or repurpose devices is also good for the environment, as individual components may be recycled and the demand for newly-minded materials can be minimised as a result.
These factors also help us to identify which electronic devices are the best if you want to sell for a profit? Clearly, the demand for affordable smartphones and the fact that they comprise 80% recyclable materials makes them highly profitable at present, whether you want to sell your iPhone directly or recycle the device.
A similar rule applies to tablets, smartwatches and cameras. Some high value and high spec computers (such as various Apple Mac devices) may also be resold for a profit, particularly if you can find the right avenue and target a motivated audience.