When buying a new phone, many overlook a significant drawback: rapid depreciation. Much like driving a new car off the lot, a new phone loses a substantial portion of its value shortly after purchase. This depreciation can lead to considerable financial loss, especially when trading in the device later. In contrast, buying a refurbished phone can avoid this loss, offering you far greater savings in the short-term and long-term too.
Depreciation of New Phones
New smartphones experience a sharp decline in value within the first month of being bought. This depreciation varies by brand and model but is a consistent trend across the industry. Below is a comparison of the launch prices of select new phones, their average trade-in values after one year, and the corresponding percentage loss:
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Brand | Model | Brand-New Price (£) | Average Trade-In Value at TBPS (£) | Percentage Loss (%) |
Apple | iPhone 13 | 799 | 285 | 64 |
Samsung | Galaxy S21 | 769 | 120 | 84 |
Pixel 6 Pro | 599 | 120 | 80 | |
Oppo | Find X3 Pro | 400 | 90 | 78 |
Motorola | Edge 20 Pro | 649 | 200 | 69 |
Data sourced from industry reports and trade-in platforms, subject to change. (2024)
Depreciation of Refurbished Phones
Refurbished phones have already experienced initial depreciation, resulting in a slower rate of value loss over time. The table below illustrates the purchase prices of refurbished versions of the same models, their average trade-in values after one year, and the percentage loss:
Brand | Model | Pristine Price at TBPS (£) | Average Trade-In Value at TBPS (£) | Percentage Loss (%) |
336 | 285 | 15 | ||
230 | 120 | 39 | ||
240 | 120 | 50 | ||
330 | 90 | 69 | ||
205 | 200 | 2 |
Data sourced from industry reports and trade-in platforms, subject to change. (2024)
What Does This Mean When Buying A New Phone?
Buying a new phone is like splurging on a luxury car—you lose up to 80% of its value almost as fast as you can say, “Unbox it!” Sometimes, the depreciation starts the moment you walk out of the store. On the flip side, choosing a refurbished phone is like snagging a great deal on a car that’s got less depreciation value. You save big upfront and lose less over time—a win-win for your wallet and your sanity.
Buying a New Phone? Choose The Big Phone Store!
At The Big Phone Store, we believe in getting you the most for your money—whether you’re buying or trading in. We constantly monitor the market to offer the best, most competitive prices, so you can rest easy knowing you’re getting top value for your tech. Plus, our trade-in process is simple and hassle-free, ensuring you get every penny your device is worth without the headaches or surprises.
By choosing refurbished devices, consumers can enjoy modern technology while minimizing financial loss due to depreciation.
Upgrade today by selling your old device! Click on the links to find out value of your mobile phone and how to 'Sell My Phone,' benefit from 'Phone Trade-In' or 'iPhone Trade-In' for the best value.
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