When it comes to resale market for smartphone, it is good to know the basic definition of what is considered a second hand phone.
Smartphone retailers define a phone to be second hand as long as it has been sold more than once. What this means is that you can claim that your product is BNIB (Brand new in box), unopened etc, but it will still be treated as a second hand unit. But this does not mean that a BNIB will not be able to fetch more than an used phone.
What buyers look for in 2nd hand phone is the cosmetic condition. If there are scratches all over the phone body, then it is only right that you expect buyers to question the overall condition of the phone. This is because a smooth and brand-new feel used phone will give a buyer the assurance that the phone is well taken care of and he or she is not likely to question your credibility. So, when selling your used phone, attach the phone condition by stating something like: Phone condition - 8/10. But do take note that there is no official scale and this rating is well subjective to the standards of different individuals.
We all know that Apple has a strict warranty policy. When you bring a faulty iphone that is still covered under the warranty period, Apply will not repair your spoilt phone but they will replace your phone with a new unit. Awesome, you may say. But do not think that Apple is stupid enough as to give you a brand new set. Many people believe that the replacement unit that you'll be getting is a refurbished unit. What refurbished unit means is they take in a spoilt iphone, repair it and it's labelled as refurbished.
Alternative to buying a second hand iPhone, Apple is also selling their refurbished products. Just go to the Apple online store. You can find the list of refurbished items that have been put up for sale under the special deals such as what you can find here. But you need to be in lots of luck to be able to find a refurbished iPhone. There are plenty of iMac and Macbook listed there, but the last time I checked, there was no iPhone in the list.
Another popular alternative in Singapore is the trade-in business model. While the term itself is quite obvious to some, it is a term that is not so well-understood by the general audience. So, what does the term trade-in exactly mean? The term itself may carry different meaning when used in different countries. In the context specific to Singapore, trade-in means that you are giving up an item that you already have to replace with something else. The replacement is usually something brand new. For example, you trade-in a 2-year old phone with the latest phone release. This implies that you give up your 2-year old phone with a new phone that could have been just released to the market. In this case, you are giving up your old phone because it could be obsolete in Singapore and does not support the latest technologies or services offered by the local telcos. For example, if you have an old Nokia phone that does not support 3G network. You will be missing out on many of the conveniences offered by services that require data communications to work.
In the case when you trade-in an old phone with a brand new phone, you normally have to top-up the difference between the trade-in value and the new phone value. iPhone is one exception. It is one of those rare devices where the price depreciation is relatively flat compared to its peers in the electronic industry. In some cases, you trade-in your current phone with another model because you either get sick of the phone that you are using or you can no longer tolerate the limitations of the phone.
One tips if you are looking to sell your phone is to not lose the box and its complete accessories. Nowadays, mobile phones such as iPhone 4s sold in singapore comes with standard charger and earpiece at the minimum. Do not lose these accessories as losing means that your phone will no longer be in its complete box set.
Who and why does anyone buy second hand phone in Singapore?
The second hand phone market in Singapore is always huge. But have you ever wondered why this is so? With the price of smartphones going down over the years, does it still make sense to buy a second hand phone?
Well, if there is no demand, there'll be no supply. Apparently, many people in Singapore still think that buying a second hand phone still make sense. But why? Few reasons that I could think of.
First, Singaporeans are curious breed of people. They like to try everything new, even though they know they are risk of getting disappointed. One good example is the long queues that we always see when big brands or franchisees make their launch in Singapore. Singaporeans are willing to stand in queue just to experience being the first to try. The same curiosity is one factor that lead to the flourishing second hand phone market. I have bumped into people who changes his phone every month. Amazing right? But that is true.
Second, being a tiny island, Singaporeans often have limited options when it comes to exploring their hobbies. Gadget has become one of the favourite past-time activity among Singaporeans. In fact, gadget is considered to be one of the cheapest form of hobby among Singaporeans. But of course some may argue otherwise. With the exception of gadgets that cost thousands of dollars - such as home speaker systems, most gadgets are below the $299 mass market price point.
Third, Singapore is a regional hub in South East Asia. Being more affluent that its neighbours, the living standard in Singapore is higher compared to the rest of the cities in Asia. Many electronic products in Singapore are being shipped to the neighbouring developing cities like Jakarta, Batam, Johor etc. This creates a demand for resale markets in products such as smartphones.
Fourth, what makes us all human is the unique perspective that we have on the very same world that we live in. What we see as junk may be seen as treasure by others. Most Singaporeans like things new. For example, it is a common practice in Singapore for car owners to dump their cars every 3-5 years and buy new cars. Yet, there are certain breed of the population who like to drive second hand cars. To them, price dictates everything. These breed of people are the pragmatist and price-conscious. The same practice is happening to the mobile phone segment. There are the crazy ones who are willing to sacrifice their pocket money just to be the first on the fast-moving train of gadget innovation.
I'm sure you can think of many other reasons why people are buying second hand phones in Singapore. Share your thought in the comments below. Now that rumours about iPhone 5 coming to Singapore is reaching a deafening pitch, are you thinking of selling your iPhone 4 or 4S? Or are you one of those who are eagerly waiting for the price of iPhone 4S to drop before grabbing one?
Well, if there is no demand, there'll be no supply. Apparently, many people in Singapore still think that buying a second hand phone still make sense. But why? Few reasons that I could think of.
First, Singaporeans are curious breed of people. They like to try everything new, even though they know they are risk of getting disappointed. One good example is the long queues that we always see when big brands or franchisees make their launch in Singapore. Singaporeans are willing to stand in queue just to experience being the first to try. The same curiosity is one factor that lead to the flourishing second hand phone market. I have bumped into people who changes his phone every month. Amazing right? But that is true.
Second, being a tiny island, Singaporeans often have limited options when it comes to exploring their hobbies. Gadget has become one of the favourite past-time activity among Singaporeans. In fact, gadget is considered to be one of the cheapest form of hobby among Singaporeans. But of course some may argue otherwise. With the exception of gadgets that cost thousands of dollars - such as home speaker systems, most gadgets are below the $299 mass market price point.
Third, Singapore is a regional hub in South East Asia. Being more affluent that its neighbours, the living standard in Singapore is higher compared to the rest of the cities in Asia. Many electronic products in Singapore are being shipped to the neighbouring developing cities like Jakarta, Batam, Johor etc. This creates a demand for resale markets in products such as smartphones.
Fourth, what makes us all human is the unique perspective that we have on the very same world that we live in. What we see as junk may be seen as treasure by others. Most Singaporeans like things new. For example, it is a common practice in Singapore for car owners to dump their cars every 3-5 years and buy new cars. Yet, there are certain breed of the population who like to drive second hand cars. To them, price dictates everything. These breed of people are the pragmatist and price-conscious. The same practice is happening to the mobile phone segment. There are the crazy ones who are willing to sacrifice their pocket money just to be the first on the fast-moving train of gadget innovation.
I'm sure you can think of many other reasons why people are buying second hand phones in Singapore. Share your thought in the comments below. Now that rumours about iPhone 5 coming to Singapore is reaching a deafening pitch, are you thinking of selling your iPhone 4 or 4S? Or are you one of those who are eagerly waiting for the price of iPhone 4S to drop before grabbing one?
Is second hand iPhone so popular in Singapore?
Singapore may be a tiny red-dot in the world map. However, Singapore has recently been crowned as the richest country in the world, beating the likes of Norway and United States. As a tiny nation barely half a century old, Singapore has come a long way and overcome many odds. Blessed with no natural resources on its own, Singapore has only its human resources to depend on. Education is the key to Singapore's success story and it has one of the highest educated population in the world. Singapore has set itself as a benchmark in many industries. From the world's best airport to the world's first night F1 race. From being known as the greenest city in the world to the safest country in the world. With such population demographics, it is no wonder that the smartphone adoption in Singapore has been prolific. Smartphone (like iPhone) introduces countless conveniences and increases productivity.
Boasting a population of about 5-6 Millions (where 20% comes from monthly tourist arrival), Singapore boast some of the best infrastructure in the world. This small but rich nation has huge appetite for affluent lifestyle, particularly Gadgets. With one of the highest penetration rate in the world, majority of the population today owns at least one smartphone (yes, at least).
iPhone is one major digital lifestyle product that is feeding the hunger for Singaporeans to keep themselves up-to-date while on the move. From news reading to Facebook (stalking). From gaming to productivity. From tweeting to podcasting. The adoption of iPhone in Singapore is widespread and it is not uncommon to see a group gathering where everyone is holding on to no other smartphone but the iPhone.
The appeal of iPhone as second hand gadget is indeed phenomenal. Singapore is no exclusion. In the past few occasions of every iPhone launch in Singapore, response has been incredible. This is even when Apple does not have its official store presence in Singapore. While the celebratory launch parties in Singapore had been relatively muted as compared in other parts of the world, sales remain high when one consider the population size in Singapore.
Maybe it is the hot and humid weather that hinders the iPhone launch mania in Singapore. But nonetheless, hundreds of people are still queuing up in lines in various telco outlets when iPhone 4S was launched in 2011. Despite this, there are many who are not fancied by the cool factor of being the first to own an iPhone and are willing to wait. Given the high price and mobile contracts that comes with the iPhone, many have turned to secondary marketplaces such as forums or buyzell which is somewhat looking like a lighter version of craiglists singapore, in order to get a second hand iPhone, that is often in mint condition. In many cases, there are those who purchase the iPhone at a subsidised rate from telco like the singtel iphones and sell them in brand-new-in-box (BNIB) condition.
There are of course tips and tricks you need to look out for in order to fetch a good price for your beloved iPhone.
Boasting a population of about 5-6 Millions (where 20% comes from monthly tourist arrival), Singapore boast some of the best infrastructure in the world. This small but rich nation has huge appetite for affluent lifestyle, particularly Gadgets. With one of the highest penetration rate in the world, majority of the population today owns at least one smartphone (yes, at least).
iPhone is one major digital lifestyle product that is feeding the hunger for Singaporeans to keep themselves up-to-date while on the move. From news reading to Facebook (stalking). From gaming to productivity. From tweeting to podcasting. The adoption of iPhone in Singapore is widespread and it is not uncommon to see a group gathering where everyone is holding on to no other smartphone but the iPhone.
The appeal of iPhone as second hand gadget is indeed phenomenal. Singapore is no exclusion. In the past few occasions of every iPhone launch in Singapore, response has been incredible. This is even when Apple does not have its official store presence in Singapore. While the celebratory launch parties in Singapore had been relatively muted as compared in other parts of the world, sales remain high when one consider the population size in Singapore.
Maybe it is the hot and humid weather that hinders the iPhone launch mania in Singapore. But nonetheless, hundreds of people are still queuing up in lines in various telco outlets when iPhone 4S was launched in 2011. Despite this, there are many who are not fancied by the cool factor of being the first to own an iPhone and are willing to wait. Given the high price and mobile contracts that comes with the iPhone, many have turned to secondary marketplaces such as forums or buyzell which is somewhat looking like a lighter version of craiglists singapore, in order to get a second hand iPhone, that is often in mint condition. In many cases, there are those who purchase the iPhone at a subsidised rate from telco like the singtel iphones and sell them in brand-new-in-box (BNIB) condition.
There are of course tips and tricks you need to look out for in order to fetch a good price for your beloved iPhone.
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