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Device Depreciation, Pricing Studies & Market Trends
Trading-in a mobile device is the best way for consumers to upgrade to the latest and greatest technology while getting the most bang for their buck. However, not all trade-in solutions are created equal. It’s important for retailers and consumers alike to do their research when choosing a device buyback provider. One factor to consider is how a provider manages device depreciation – the reduced value of devices over time.
Wear and tear, new releases, updates, and device models all play a role in determining the rate of depreciation. Here at Phobio, we take pride in offering the most competitive trade-in values for the retail industry. In January 2020, our smartphone values were 31% higher than competitors, our iPad and tablet values were 23% higher than competitors, and our computer trade-in values, specifically for iMacs, MacBooks, and Mac Minis, were 42% higher than competitors.
Mac Trade-In Values
In January, Best Buy had the highest depreciation year over year (YoY) for Mac trade-ins at 47%. Brightstar had 43% depreciation YoY, and Phobio values experienced 33% depreciation YoY.
A MacBook Pro Core i5 2.7 GHz 13" (early 2015) 256GB SSD was valued at $360 with Phobio, $180 with Best Buy, $285 with PowerON, and $200 with Brightstar.
An iMac Core i5 2.7 GHz 21.5" Al (Late 2013) 1TB was valued at $180 with Phobio, $91 with Best Buy, $140 with PowerON, and $120 with Brightstar.
Smartphone Trade-In Values
According to our data, retailers had a 43% YoY depreciation for smartphone trade-ins. In January, smartphone prices for Phobio were 26% above retailers, 47% above Gazelle, and 25% above carriers.
An iPhone 8 Plus 64GB, was valued at $220 with Phobio, $173 with carriers, $162 with retailers, and $140 with Gazelle.
An iPhone X 64GB was valued at $268 with Phobio, $239 with carriers, $237 with retailers, and $184 with Gazelle.
iPad/Tablet Trade-In Values
Studies show the average depreciation of iPads and other tablets over the past three months was 6%, with 1% depreciation month-over-month. Gazelle had the most depreciation YoY at 32%, while retailers had the least depreciation at 16%.
An iPad Pro 10.5 64GB WiFi, was valued at $190 with Phobio, $168 with carriers, $169 with retailers, and $161 with Gazelle.
The Phobio Platform
Our trade-in platform provides retailers with the most competitive and transparent device pricing in the industry through an omnichannel trade-in solution that provides consumers with the flexibility to trade-in online, in-store, or start their transaction in one channel and finish it in another.
Interested in learning more? Contact us!