Archive for Flipsy

Guest Post: Flipsy Serves Up Some Earth Day Info

Posted in Commentary with tags on April 19, 2019 by itnerd

Here’s an Earth Day update from Flipsy.com: did you know that Americans throw out phones worth $60 million in gold and silver every year?

The e-waste issue escalates, yet many people throw old phones away when they could instead help the environment – and even cash in, as the average American household has $265 worth of unused gadgets.

In the spirit of Earth Day, we’re asking you to help us get the word out about three easy ways people can recycle their old phones and do their part to preserve the planet.

1. Recycle your old phone (to a reputable recycler)

The Basel Action Network reports that 40 percent of e-waste given to recyclers gets shipped illegally to polluting operations overseas, so it’s important to choose a reputable recycler. You can find reputable recycling center directories, state-by-state recycling centers and a list of corporate recyclers here.

2. Donate your old phone to charity

Charities put your old phone to good use. Some resell them to fund their operations, while others repurpose them for things like rainforest conservation. In most cases, you can use the value of your donated phone as a tax write-off. Find a list of charities that accept phones here.

3. Sell your old phone

Finally, you can sell your old phone for cash. Flipsy makes it easy by comparing offers from more than a dozen Trust Verified Stores. Shipping is free and payments are submitted within three days. You can see how it works here.

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Flipsy Notes That iPhones & iPads Have Vastly Different Inflation Rates

Posted in Commentary with tags on March 19, 2019 by itnerd

Flipsy.com has noted an interesting nugget that might escape notice: iPads and iPhones have drastically different inflation rates. And this was highlighted by the release of the new iPads yesterday.

The last 3 iterations of the iPad Mini and iPad Air have carried the same base prices: $399 and $499, respectively. This contrasts with iPhone prices, which have increased by an average of 12% per year.

If we look at 2014 models, the iPad Mini 3 cost $399 and the iPad Air 2 cost $499. The iPhone 6 cost $649. In 2018, the iPhone XS cost $999. So, while iPad prices have remained static over 5 years, the iPhone price increased by 54% over 4 years.

Flipsy found this interesting, especially since many of the iPad improvements mirror those of the iPhone: the new iPads and the iPhone XS all have 64GB base models and feature the A12 bionic chip, for example. I think that highlights that Apple is really trying to extract as much cash as it can from iPhone users. It also highlights why Apple is freaking out in regards to a drop in iPhone sales.

Guest Post: Flipsy Discusses Used Phone Scams And How To Buy Without Getting Ripped Off

Posted in Commentary with tags on March 7, 2019 by itnerd

Flipsy.com has a few quick tips about how to safely buy a used phone (without getting ripped off). With the Galaxy S10 hitting shelves this week, a flood of old Galaxy models will enter the used retail market – so it’s a great time to make sure people don’t fall for scams like these:

  • A scammer steals a phone, then quickly sells it before the theft can be reported. Soon after, the phone is blocked
  • A scammer sells a phone, then reports it lost or stolen to claim an insurance replacement. The original phone is then blocked
  • A scammer sells a phone that is under contract but does not pay the contract off. The phone is blocked

Here’s how to avoid falling victim to these and similar scams:

1. Ask the buyer for the phone’s IMEI. Paste the number in a free blacklist checker, like the one offered by CTIA. This will tell you if the phone has been reported lost, stolen or otherwise blocked; however, it won’t protect you from every scam since the seller can report the phone lost or stolen after you buy it

2. Use payment protection. Insist on buying through a platform that offers buyer protections, or use a service like PayPal, which offers 180-day purchase protection

3. Ask the right questions. Ask the seller if the phone is paid off, if it has been jailbroken, if it still charges and if everything works. Honest sellers will be forthcoming; and though scammers won’t be, if you’re buying on eBay asking such questions can make it more likely disputes will be decided in your favor

4. Vet the seller. Research the seller: do they have positive reviews from past buyers? Do they have social media accounts you can investigate? Do they have references? Use your intuition: if a seller seems shady, pass. There are plenty of used phones out there

5. Inspect the phone. If you’re meeting in person, inspect it before money exchanges hands. Make sure it turns on, that you can make a call or text, and that you can connect to the Internet. If you’re buying online, inspect the phone immediately once you receive it. If something isn’t right, file a dispute with your payment processor right away

Flipsy.com doesn’t sell used phones, but we help people get more money when they’re ready to sell them by instantly comparing buyback offers from more than a dozen Trust Verified Stores. You can see how it works here: https://flipsy.com/sell/Samsung-Galaxy-S9-Plus?carrier=Verizon

Guest Post: Flipsy Discusses The 5 Things To Do Before You Buy A Galaxy S10

Posted in Commentary with tags on February 27, 2019 by itnerd

Flipsy.com has some tips about what people should do before they buy the new Galaxy S10.

  1. Compare wireless plans. It’s easy to get excited about Galaxy S10 discounts, but it’s important to understand exactly what the terms are before you commit to a wireless carrier. Ask questions like:
  • How much data does the plan offer? What are the penalties for going over?
  • How long am I locked in to this contract? Can I pay it off early? Are there early termination fees?
  • Is it better to buy on a monthly installment plan or pay for the phone upfront?
  • Will I get coverage everywhere I need it? At home, work and school, and everywhere in between?
  • Can I get a better deal somewhere else? Should I explore MVNOs, which use major carrier towers but might offer reduced rates? What about a service like Google Fi?

When the average unlimited wireless plan costs $80 per month, it pays to compare your options.

  1. Compare trade-in offers. Wireless carriers will trade in old phones, but you can get an average of 30% more by selling to an online buyback store. Benefits include:
  • Cash payouts that can be spent anywhere and even help offset some of the cost of a new phone (versus carrier credit)
  • Fast payouts submitted within 3 business days (versus carrier payouts applied as bill credit over several months)
  • Convenient and guaranteed sales (versus waiting indefinitely for a buyer on eBay or Swappa)
  • Free shipping

Flipsy instantly compares buyback offers from more than a dozen Trust Verified Stores so you can see at-a-glance who is currently paying more for any phone. You can see how it works here: https://flipsy.com/sell/Samsung-Galaxy-S9-Plus?carrier=Verizon

  1. Lock in a high price. If you’re selling your old phone, take advantage of price locks to beat the inevitable price drops that will occur once the Galaxy S10 is available (15 to 40%). Price locks:
  • Let you lock in a high price now
  • Sell up to 30 days later at that price no matter how much values drop in the interim
  • Do not obligate you to sell
  • Let you keep your phone until you get the new Galaxy S10 – without losing any money

Flipsy shows which companies offer price locks, and for how long.

  1. Protect your data. Make a backup of your data so it can be transferred to your new Galaxy S10. Then, completely erase data from your old phone to:
  • Protect against identity theft and access to financial accounts
  • Keep prying eyes away from personal photos, videos and social media accounts
  • Make it easy to sell your old phone when you’re ready

You should also turn off any phone tracking services and reset your phone to factory settings.

  1. Protect your new phone. You can do this at the same time you buy your Galaxy S10. Get a good screen protector and case to keep your Galaxy S10 scratch-free and protect it from drops and other damage. It’s the best way to keep your phone in good condition so you can later maximize its trade-in value, which will help offset the cost of your next phone.

Guest Post: Galaxy S10 Price Locks: Money-Saving Heroes

Posted in Commentary with tags on February 5, 2019 by itnerd

Flipsy.com has a way to save up to $100 on the Galaxy S10: price locks. More people than ever sell or trade in their old phones when they buy a new one – but many unwittingly lose money by waiting too long to sell.

The problem? No one wants to sell their old phone until they have the new one in-hand, but values for older models can drop by as much as 15% to 40% in the weeks preceding a new flagship release. As we anticipate the Feb. 20 Galaxy S10 release, that means:

  • The Galaxy S9 will likely lose between $50 and $130 of its current buyback value ($325), resulting in a $195 to $275 price
  • The Galaxy S8 will likely lose between $40 and $105 of its current buyback value ($264), resulting in a $159 to $224 price

The longer you wait to sell, the more money you’re leaving on the table – up to $100 or more – but that’s not an issue when you take advantage of price locks, the heroes that thwart price drops. Here’s how they work:

  • Lock in a high price now, before prices drop
  • Sell your phone up to 30 days later at the locked in price (no matter how much prices drop in the interim) – there’s no need to sell it before you have a new phone
  • There’s no obligation to sell – price locks simply lock in a price in case you decide to cash in later

Now is the time to lock in a high price, and there’s an easy way to do it. Flipsy.com helps people get more money for their used phones by instantly displaying buyback offers from more than a dozen Trust Verified stores that compete to pay top dollar. We also show which stores offer price locks and for how long. You can see how it works here: https://flipsy.com/sell/Samsung-Galaxy-S9?carrier=Verizon

Guest Post: Flipsy Discusses Why Used Smartphones Are Worth More Than Ever

Posted in Commentary with tags on January 30, 2019 by itnerd

Flipsy.com has some insights about used smartphone values. With the Galaxy S10 expected to cost $885 (and a souped-up version expected to go for more than $1,800) it’s no wonder more people are opting to buy used smartphones – and that’s good for sellers, because used smartphones are worth more than ever.

  • In 2016, the Galaxy S7 cost $699. One year later, it could be sold for $260 – a value retention of 37%
  • When released, the Galaxy S8 (2017) cost $750 and the Galaxy S9 (2018) cost $720. One year after release, each phone was worth $325 – retaining 43% and 45% of their values, respectively
  • That means the 2017-2018 Galaxy S models respectively retained 16% to 21.6% more of their original values after one year than 2016 models did

Market demand for used phones is increasing as many people don’t want to shell out a lot of money for new smartphones. Consider:

  • The average selling price of top-end smartphones has increased by $400 since 2015 (from $600 to $1,000, representing a 67% increase) (Deloitte)
  • The global used device market is expected to grow by 97% from 2017 to 2025 (from $19.7 billion to $38.9 billion) (Forbes)
  • At least 10% of the smartphones purchased in 2016 will still be in use in 2020 and beyond, many with three or more owners (half of those phones are traded in, half are sold on the private market) (Deloitte)

Given the surging used smartphone market, driven by increased demand and excellent flagship value retention, those buying the Galaxy S10 would be wise to offset their costs by selling their old phones.

Flipsy.com helps people get more money for their old phones by instantly comparing the highest-paying offers from more than a dozen Trust Verified stores. You can see how it works here: https://flipsy.com/sell/Samsung-Galaxy-S9?carrier=Verizon

Guest Post: Flipsy.com Comments On Galaxy S10 Leak

Posted in Commentary with tags on January 22, 2019 by itnerd

Flipsy.com has some observations about the recent Galaxy S10 leak? The base model is rumored to cost $885, making it Samsung’s most expensive S-model yet – a 23% increase over the Galaxy S9 launch price. Not only that, but an S10 Plus model featuring 12GB of RAM and 1TB of storage is rumored to cost more than $1,800!

This is part of a trend we can expect to see more of in 2019: phone prices continue to escalate while average wages stagnate. Given how much they’ve become ingrained in everyday life, how will smartphones affect the average American household budget if prices continue to increase while wages remain stagnant? (Maybe you saw the ABC, Fox or MarketWatch coverage of our data on the total cost of smartphone ownership, which showed smartphones cost $75,000 to $300,000 over a lifetime). 

It’s a big reason more people than ever are selling their old phones: used smartphones maintain excellent value and can help offset the cost of a new phone.

For example, the Galaxy S9 is currently worth $350. Sell it, and you reduce the overall price of the S10 to $535. Flipsy helps people get more money for their old phones by instantly comparing the best offers from dozens of Trust Verified buyback stores.

You can see how it works here: https://flipsy.com/sell/Samsung-Galaxy-S9?carrier=Verizon