Trade-In Tech
by on October 21, 2020
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There are many beneficial reasons for wholesalers to start buying refurbished electronics. With that in mind, you might want to know more about these types of electronics. You’re about to learn what refurbished electronics are and how they differ from other types of electronics. We’ll also go over 6 beneficial reasons to start buying refurbished electronics right now.

 

What Are Refurbished Electronics?

 

 

Refurbishing is the process of restoring a device and improving it in the process. The refurbishing process involves inspecting a device’s current state, repairing any issues, and cleaning the item. After all these steps are complete, this device is refurbished. 

 

There are sometimes mixed definitions of refurbished electronics. This is due to laws prohibiting retailers from labeling returned or other lightly used items as new ones.

 

Electronics might receive a refurbished label if they were opened once by a customer and immediately returned. This can also happen to devices used as demo units for trade shows or similar events. If electronics receive damage on their way to a retailer, this can also lead to these devices getting sent back to their respective manufacturers for refurbishment purposes.

 

Refurbished vs New vs Used Electronics

 

 

As an electronics wholesaler, there’s no denying that you have lots of options when it comes to obtaining inventory. Considering that, you might be wondering more about whether it’s beneficial to buy new, used, or refurbished electronics. Here are the main differences between refurbished, new, and used electronics.

 

Refurbished electronics must receive repair work, restorations, a cleaning, and anything else needed to restore them to a like-new state. Many wholesalers love finding refurbished electronics for sale due to their high resale values. Even after partnering with a refurbishing company, these types of electronics can provide you with plenty of profits. Also, refurbished electronics are always attractive options for buyers on tighter budgets.

 

New electronics shouldn’t need any type of repairs or cleaning. However, they are also going to cost quite a bit more than most used or refurbished electronics for sale. However, the advantage of new electronics is that demand will be quite high for these items. It’s also generally easier to not worry about any condition issues while purchasing new electronics.

 

Used electronics are devices that have been previously owned by a company or business. These types of electronics come in a wide range of conditions. You can find used electronics that look like they came off the factory floor. In other cases, used electronics can be a little or extremely damaged.

 

6 Benefits of Buying Refurbished Electronics

 

 

It’s now time to look at why so many in the wholesale industry prefer to find refurbished electronics for sale. Refurbished electronics have a lot of advantages for both buyers and sellers. With that in mind, let’s take a closer look at what makes buying refurbished electronics so beneficial.

 

1. Buying Low and Selling High

 

In the business world, company owners know the importance of purchasing goods at a cheaper cost than what they sell them for. You’ll be glad to know that buying and reselling refurbished electronics is one of the best ways to make money in this industry. Many successful business owners have grown their companies by buying electronics in a used state, flipping them, and making lots of revenue.

 

2. Avoiding Defective or Non-Functioning Items

 

When comparing used vs refurbished wholesale electronics, the latter option has a major advantage. If you purchase used goods, it’s possible to end up with electronics containing parts near the end of their respective lifecycles. With that in mind, most refurbished electronics receive professional inspections. These inspections spot and fix problems before refurbished devices reach your business and its customers.

 

3. Scaling Your Wholesale Electronics Business

 

One of the most important factors for any business owner is being able to see their respective companies scale upwards. With that in mind, a key factor in business growth is being able to enter new avenues within your industry. If you’ve been spending time buying and selling new or used electronic devices, now might be the perfect time to expand into the wholesale refurbished electronics industry. You might even find that working with refurbished electronics brings you more revenue than ever before.

 

4. Having More Options

 

Throughout life, it’s important to have lots of options. If you specialize in only selling new electronics, it can sometimes be difficult to get the exact items you want. However, reselling refurbished electronics means you can start purchasing a wider range of electronics. By working with wholesale suppliers of refurbished electronics, it can help increase your chances of making more sales.

 

5. Receiving Warranties

 

It’s understandable to feel like you’re assuming lots of risk by purchasing refurbished electronics instead of newer devices. Fortunately, you’ll be glad to know that certain refurbishing companies provide warranties that guarantee how long the device will remain operational.

 

However, not every refurbisher offers warranties. Also, the cost and length of a refurbished device warranty vary based on what company or refurbisher you’re working with. However, refurbishers offering warranties to back up their work provide business partners with peace of mind they can pass on to customers.

 

6. Helping Out the Environment

 

As strange as it might sound, purchasing refurbished electronics is beneficial for the environment. When you purchase refurbished electronics, it’s helping manufacturers to create fewer emissions getting new devices to retailers. This also helps to cut down on transportation emissions as these new devices are driven to stores and warehouses.

 

Finding Refurbished Electronics for Sale on Trade-In Tech

 

 

Now that you know what makes buying and selling refurbished electronics so beneficial, it’s time to learn where to find them. While it’s true that you can find wholesale refurbished electronics in many ways, some methods are better than others. Instead of overwhelming you with lots of options, let’s look at why so many wholesalers find and purchase refurbished electronics on Trade-In Tech. 

 

One reason to start purchasing electronics on our wholesale electronics platform is that we don’t charge fees to our large network of buyers and sellers. This is a great way to avoid watching your revenue get eaten up by fees, especially for those just starting as refurbished electronics wholesalers.

 

While trying to find refurbished electronics, it’s helpful to have a large selection of items to choose from. With thousands of buyers and sellers on our platform, you’ll save time by finding refurbished electronics wholesalers right away. We’re also one of the best places to sell used electronics

 

Are you needing to find a professional refurbisher or refurbishing company to partner with? We’ve got plenty of refurbished electronics wholesalers that know how to repair and restore a wide range of electronics. Plus, Trade-In Tech’s social platform makes it incredibly easy to contact these professionals. You can also stop by the Trade-In Tech Marketplace to find even more electronics at great prices.

 

What Types of Refurbished Electronics Should I Buy?

 

 

As you look through refurbished electronics listings, it’s easy to start feeling overwhelmed. Considering that, you can save yourself lots of time by learning about the best types of electronics to resell for profit. Here are four of the most profitable electronics to start refurbishing.

 

Smartphones

 

Research shows there are nearly 3.5 billion global smartphone owners, a total that’s only expected to increase as time goes on. With this device being so popular and seen as an essential item by many, flipping cell phones is a great way to start making lots of money.

 

As you’ll soon learn, it’s generally best to find newer smartphones. However, older smartphone models can still bring in lots of profits. Considering how many types and generations of smartphones on the market, resale values can vary quite a bit. Some of the most popular smartphones remain devices made by Apple and Samsung. However, Google is also having success after entering into the smartphone industry. 

 

Let’s learn more about the resale values of some of the most popular smartphone brands. One of the most popular companies in the world of wholesale refurbished cell phones is Apple. For instance, Apple’s iPhone 11 typically resales for anywhere from $550-900 and the iPhone X can resale for $350-$600.

 

Samsung’s Galaxy line of smartphones can also bring in excellent resale values. For instance, the Samsung Galaxy S20 line of smartphones resells for $600-850. It’s also possible to obtain resale values for Samsung Galaxy S10 smartphones that range from $300-$500. Samsung Galaxy S7-S9 smartphones typically resale for anywhere from $85-$300.

 

Lastly, let’s take a look at resale value ranges for Google’s Pixel line of smartphones. Currently, the Google Pixel 4XL resale value ranges from $450-$1,000+. Earlier models like Google's Pixel 2 and 3 can bring in anywhere from $120-$450. While Google doesn’t have as many products available as Apple or Samsung, it’s quickly gaining popularity in the world of wholesale refurbished cell phones.

 

Tablets

 

As the popularity of smartphones began increasing, technology companies were quick to notice this. Soon, these companies released devices called tablets. These devices were able to combine the sleek convenience of a smartphone with the power of a computer. Unlike smartphones, tablets typically feature much larger touchscreens.

 

Apple’s iPad remains the leader of the pack in terms of tablet sales and overall popularity. This is something Apple is well aware of, considering this company has come out with the iPad, iPad Air, iPad Pro, and iPad Mini. The resale value of refurbished iPads depends on a device’s condition, age, and storage capacity.

 

iPads can sell for anywhere from $50 to $300. The iPad Air’s resale values range from $50 to $300. When it comes to the iPad Mini, expect to receive anywhere from about $50 to $250. iPad Pros bring in the highest average resale values, which range anywhere from $250 to $750.

 

To learn more about how to flip an iPad, make sure to read our complete guide to buying and reselling iPads.

 

Computers

 

When it comes to wholesaling computers, you have two options: laptops or desktop computers. Most wholesalers tend to prefer laptop computers because of their smaller size. It’s also easier to test laptops, considering that everything you need is within one unit. This also enables wholesalers to test laptops faster than desktop computers.

 

With that in mind, there are many types of valuable laptops on the market. Popular brands of laptops include those made by Windows and Apple. Speaking of Apple, this company’s signature laptop, the MacBook is popular among both buyers and sellers. Like Apple’s iPad, this company’s MacBook is available in a few different styles including the base model, the MacBook Pro, and the MacBook Air.

 

Typical resale values for MacBooks range from $350-$2,000. MacBook Air resale values range from $250-$800. The MacBook Pro brings in the highest resale values, ranging from $475-$2,500.

 

Smartwatches

 

Many companies work to make technologically powerful devices as small as possible. Considering that, it should come as no surprise that smartwatches soon became a massive hit after this device’s initial release. Smartwatches tend to feature similar types of technology found in both smartphones and tablets. Fortunately, this means that most refurbishers shouldn’t encounter many problems while restoring these devices. 

 

Apple remains the leading manufacturer of smartwatches throughout the world. The Apple Watch is also popular among wholesalers because they love the resale value of these devices. If you’re selling refurbished Series 1-3 Apple Watches, expect to receive anywhere from $50-$200. With newer Apple Watches, like Series 4 and 5 models, expect resale values that can range from $300-500.

 

In Conclusion

 

As you can see, there are many reasons why it’s beneficial to purchase refurbished electronics. While it might take a little time and work to get these devices ready to sell, many wholesalers don’t mind due to the ROI these items bring in. If you’re looking for more help on this subject, make sure to check out our recent article on how to buy and sell electronics. You might also benefit from learning about several of the awesome wholesale electronics dealers on our platform.

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