How We Price Trade-Ins at The Big Phone Store: A Transparent Guide
At The Big Phone Store, we frequently receive questions, queries, and sometimes complaints about our pricing. So, we’ve decided to give you an inside look at how we determine the prices for phones on our trade-in site.
How Do We Decide How Much We’ll Pay for a Phone?
Your satisfaction is our top priority—after all, without you, we wouldn’t be where we are today. We want you to get the best deal for your phone, and if you find a better price elsewhere, we fully support you selling your device to them.
The same principle applies when we sell phones—if you can find the same phone for a lower price, we don’t expect you to buy from us for the sake of it. Our pricing is fair, transparent, and based on several key factors:
Profitability
- As a business, we have to ensure we remain sustainable. This means we can’t buy phones for more than we can afford to sell them. Believe it or not, the profit margin is often smaller than people think. While it may seem like a £125 profit when we buy a phone for £250 and sell it for £375, that margin covers a long list of expenses including taxes, advertising, processing, shipping, and equipment. We also have to factor in banking fees, software royalties, and much more. Our goal is to remain efficient and streamlined, but we still need to cover our overheads.
Demand
- The demand for certain phone models plays a huge role in our pricing. If a phone is in high demand, you’ll notice that we offer competitive rates because we really want that device! On the other hand, if a model is less popular or outdated, our prices will reflect the lower likelihood of reselling it. For instance, we’re currently paying more for iPhones compared to Blackberries—the market speaks!
External Suppliers
- Like you, we’re always looking for the best deal. We purchase stock from suppliers across Europe, and if we can buy a particular phone cheaper elsewhere, we’ll adjust our pricing accordingly. It’s all about maintaining balance and fairness across the board.
What If I’ve Been Offered More Elsewhere?
We understand that sometimes you may find a better offer. Every day, we check hundreds of websites (including comparison sites) to ensure our prices are competitive. However, we’re only human, and it’s possible that we may miss the odd deal. If you find a better offer, let us know! If we can beat it, we will.
That said, price isn’t the only factor to consider. Here are a few key questions to ask about higher offers:
- How long have they been in business? It’s easy to set up a website, offer high prices, and disappear after collecting thousands of phones. Sadly, this happens more than you might think.
- What do their customers say? Always check reviews on sites like Google, Trustpilot, and Yell. Some recyclers offer high prices upfront, only to drastically lower them once the phone is received. Pay attention to how companies respond to negative reviews—it says a lot!
- How fast do they pay? Many companies claim to pay the same day they test your device, but often the money doesn’t reach your account for several days. When we process payments, they arrive the same day.
What If I’m Unhappy with a Revised Offer?
If we send you a revised offer and you’re not happy with it, no worries—we’ll return your device at no additional cost, as long as everything has been transparently communicated when you sent it to us. You’re under no obligation to accept a lower offer.
Always check the terms and conditions of our competitors before sending your device to them—many online recyclers will charge you to return your phone if you decline their revised offer. With us, returns are always free, and we check the small print so you don’t have to.
How Do We Know All This?
We’ve been in the phone recycling game since 1999—yes, that’s over 20 years of experience! We also regularly mystery shop with other recyclers (both online and on the high street) to make sure we’re giving you the best possible service. High street recyclers, in particular, can be inconsistent with pricing and transparency, which is why we pride ourselves on being clear and upfront.
We’re always assessing the market to make sure our prices, terms, and customer experience are top-notch.
We hope this overview has provided you with a better understanding of how we price our trade-ins. At The Big Phone Store, we’re committed to giving you a fair, transparent, and hassle-free experience every time!
