Whether you live in Toronto or elsewhere in Canada, the fact is, you are most likely to have an Apple or a Samsung phone. While Apple is the market leader, Samsung phones enjoy the second spot. Do you have a Samsung phone? There may come a time when you’ll want to sell it to upgrade to a newer Samsung model or switch to another brand. Even though Samsung Galaxy devices dominate the Android smartphone market, several factors can still impact their resale value—regardless of the model generation or performance. At the same time, competition from other brands remains a significant factor.
Before looking for options to sell phone Toronto, you must study the depreciation patterns once. It will give you an idea about what to expect in return. Buyback sites often offer better value than most trade-in programs or classified listings. With the proper knowledge, you can quickly decide whether to sell your phone through your chosen buyback platform. Let’s explore some crucial insights.
- Depreciation trends
Samsung Galaxy devices follow a typical pattern of depreciation, though it can vary slightly between models and generations. Credible studies reveal that most phones lose nearly 34.41% of their value within the first year of launch. Premium models retain their value much better than mid-range offerings. If the Galaxy S21 series loses 44.8% of its value within a year of release, the Galaxy S20 series can depreciate by around 50% in the same period.
- Mid-range vs. premium phones
Budget offerings like the A-series might get less cash than the Galaxy S and Note/Ultra series. It happens because expensive or premium phones experience slower depreciation.
- Physical health
New phones or well-maintained phones can be valued about 28% more than those with signs of visible damage. Even slight scratches can affect your model’s value by 7 to 10%.
- Colour variations
Limited-edition colours can be sold back at much better prices than those with standard-coloured bodies. For example, if you own a burgundy Galaxy S22, you can expect it to fetch 3–5% more than a model with a Phantom Black body.
- Storage capacity
Again, Samsung phones with higher storage capacities are typically valued higher. If your phone has 512GB of storage, you can expect to get more cash for it than for one with less storage.
- Competitive analysis
In terms of value retention, iPhones outperform Samsung. If an iPhone loses about 16-20% of its value in the first year, a Samsung device’s value is reduced by 34-45%. Google Pixels lose their value even faster, with resale values dropping by 40-48%, compared to Samsung flagships. What about OnePlus? It also experiences more massive depreciation than a Samsung phone, with its resale price dropping by nearly 45-52%.
Nevertheless, the ultimate difference you can make is by selecting the right buyback platform. A trustworthy site like sellfonenow.com can offer fair value even for damaged or non-working phones. However, it’s essential to share the correct details about the condition and age of the device. The site will evaluate your phone’s health and respond with a quick quote. If you agree to the offered price, you will need to ship your device to them. Shipping will be free, and you’ll receive your payment almost instantly.
