Make Money Flipping Phones for Major Profit
Have you ever thought about making money from selling used cell phones?
You might be surprised to learn that there is a lot of money in the used phone market.
In fact, it’s estimated that over $17 billion worth of phones is sold each year!
This means there is a lot of potential for someone looking to start their own business.
If you want to make some extra cash and have an eye for spotting valuable items, then this could be just what you need.
There are many ways to get started with this business and we will explore them all right here!
You Might Also Like:
How to Start an Online Reselling Business
Top Tips for Selling on Poshmark (no experience needed)
Disclosure: Some of the links below are affiliate links, meaning at no additional cost to you, I will make a commission if you click through and make a purchase.
Why is flipping phones so profitable?
Reselling phones for a profit is a unique business and there are many reasons why it’s so lucrative.
The main reason is that the demand for used cell phones remains high.
Even as manufacturers make new devices, people still prefer to buy used ones because they cost less and aren’t tied to any particular contract.
Another reason is that the industry has a relatively low barrier to entry.
There are expensive parts of launching a business such as renting an office space and purchasing equipment, but you don’t need those things to get started flipping phones.
How to find the most profitable phones to sell
Once you have decided to start flipping phones, your next step is to decide what kind to sell.
There are a few factors to consider when trying to find the most profitable phones.
The first is condition.
Take a look at the resale value for each phone and choose one that isn’t too beat up, especially if you plan on selling it online.
The particular model of the phone can also have an impact on the resale value.
While there are always exceptions to this rule, popular models tend to have higher values.
As you can probably imagine, newer models also sell for more money.
The most profitable model in most cases is one that was released 2-3 years ago and has a high storage capacity.
Finally, you can also consider the color when choosing a phone.
While it seems trivial, different colors have been found to sell for different prices.
For example, black and dark colors tend to fetch more money than lighter colors.
Remote Resume Guide
Want to learn how to create a stand out resume that will help you land an Online Job? Grab our Guide to help you perfect your pitch as a job seeker.
How much money can you make from resale?
There is a lot of potential when it comes to making money by flipping phones online.
In fact, some people sell their phones for twice the original value.
If you want to go this route, then you will need to know how much a phone is worth in order to make a good profit.
You can do this by looking up the price of the phone online.
There are several websites that will give you an estimate of what a used model is worth.
A few websites where you can start your search are SellCell and BankmyCell.
Once you have an idea of how much the phone is worth, take a look at your local area for used phones to buy.
Where can you find used phones to sell?
Now that you know the ins and outs of flipping phones, it’s time to get started.
If you don’t already have one on hand, here are some places you can start looking for used phones.
One of the best places to look for used phones is Craigslist.
You can search within your local area and see what kinds of options you have.
This way, you can take a look at what’s available and choose the one that will give you the biggest profit margin.
Your friends and family members
Your friends and family may have one that you can buy, and be willing to sell at a discounted price.
This is a great place to start, especially if you do not yet have the capital to make a big purchase.
Friends and family may also be able to give you some good advice on where else to look for used phones.
Garage sales or flea markets
Another option for finding used cellphones is garage sales and flea markets.
These venues are not often the best place to find high-value phones, but they may give you an idea of how much-used models are worth in your area.
This can also be very helpful when determining if you want to move forward with flipping phones or not.
eBay can be a great place to start looking for used phones because you do not have to worry about dealing with strangers in person.
One of the best ways to find a good deal on a phone is by keeping an eye out for someone who has multiple auctions going at the same time.
If the person is selling several phones at once, you can get a good deal because they want to get rid of all of their used goods.
Before you purchase a phone to flip
We know it can be exciting to find a great deal on a phone, but that doesn’t always mean that you should follow through with the purchase.
Before buying anything, here are a few things to keep in mind:
- When you are trying to flip phones online, it’s important that you don’t waste your time or money on a phone that no one will want to buy. While this may seem obvious, it is a mistake that many new sellers make.
- Make sure that you are not buying a stolen phone. This can get you into legal trouble or at least cause problems when you go to resell the phone.
- Do not buy one that has been hacked because it will be worthless.
- Make sure that the phone is unlocked, otherwise, you won’t have much luck selling it.
- Check to make sure that it has a clean ESN or MEID. A clean ESN or MEID means that the phone has not been reported stolen, lost, or blacklisted.
These are just a few of the things that you should keep in mind when shopping for used cell phones.
What do you need to start reselling phones?
By now, you probably have a good idea of what it takes to buy and sell used cell phones.
However, there are some things that you will want to consider before taking the plunge into this industry.
Here are a few of the things that you will need in order to get started:
Since you will be looking at a lot of used cellphones online, it is important that you have a good enough internet connection.
You can always get out and check out the phones in person, but this may limit some of your options.
A digital camera
It is important that you have a good camera for taking photos of the phone once you are ready to list your item for sale.
This is especially important for higher-end phones and will make it much easier to convince someone that they want your product over another seller.
Phone Check and Test App
This app will help you determine if the phone is in good working condition.
You don’t want to spend time and money on a phone that is broken, so this app will give you all of the information that you need.
Now that you know what it takes to start flipping phones for profit, it’s time to put your newfound knowledge.
Where can you start flipping phones
Once you have the right phones to sell, it’s time to find buyers!
Here are a few of the best places to start looking for buyers:
Craigslist is a great place to start looking for interested buyers because they can see your phone and make an offer without having to pay any fees.
However, it may take some time before you find someone who is interested in buying your product.
On eBay, you have the option of setting up an auction or a “Buy It Now” price.
Setting up an auction is great because it will allow you to sell your phone for whatever amount it is worth.
However, if you are not sure how much people are willing to pay for the phone, setting a price can be very beneficial.
Amazon is a great place to list your cellphone because it is well-known and has a very high traffic rate.
This will be beneficial for two reasons: you will get lots of buyers and they will be able to pay using PayPal, which is safer than other options.
Gazelle is a company that you can get in touch with and will offer you money for your used phone.
Most of the time, this amount will be lower than what the phone is actually worth because they need to make a profit.
However, selling directly to them will allow you to get cash for your device and you will not need to do any work.
SellCell is another option that will allow you to start flipping phones for cash.
You will be able to compare prices with other sellers and this is great because it means you can get the best price possible.
Trademore is a site that you can check out and it will have a variety of buyers looking to find used phones.
You will also be able to see how much your phone is currently worth so you can get the best price.
Once you have found a buyer, it’s time to make the sale!
Tips for selling your phone
Here are some helpful tips that will allow you to start flipping phones quickly and without any problems:
Photos & Description
You are going to want to use high-quality photos of your product.
Your buyer will want to see exactly what you are selling and get close-up photos to make sure that the phones are in good working condition.
In addition, you should also include a detailed description on your listing.
This will make it much easier for the customer to understand the condition of your phone.
Make sure that you know exactly how shipping will work before you agree to anything with your buyer.
Some buyers may ask for free shipping, while others will offer their own shipping solution.
Either way, it’s a good idea to understand what your responsibilities are going to be before the sale.
Price It Right
It’s important to make sure that you set a price for your phone that will allow you to make a profit no matter how low the buyer is willing to go.
You can always start with a lower price and see what they will pay, but it’s a good idea to have a base price in mind.
While you don’t want to lose money on your phone, you also don’t want to ask for too much.
Do you have to learn phone repair?
Even though phone repair skills are helpful to start flipping phones for profit, it is not necessary.
You just need to make sure that you buy the right phones for this business and as long as they are in good condition, you can start selling right away.
However, if there is something wrong with your phone and you don’t know how to repair it, you may have a hard time selling your product.
This means that while you don’t have to learn how to fix phones for this business, it can be very beneficial if you do know how to make some repairs.
Resources to help you learn phone repair skills
If you are not sure where to start learning how to fix phones, here are some great resources that will help you out:
How To Start Cell Phone Repair Business: Start-Up: Growth Strategies
Mobile Phones and Tablets Repairs: A Complete Guide for Beginners and Professionals
Smartphones and Tablets Repairs: Money Making Venture Skill
Flipping phones online: Key Takeaways
Now that you have learned a bit more about the market and how it works, you can start making money by selling used phones online.
If you follow the tips and tricks listed above, you won’t have to worry about losing money or having a difficult time finding buyers.
Remember that this is a business and it can take some work in order for you to get started making money.
However, it is possible and with the right strategy, you won’t have to worry about losing money on your first purchase.
So what are you waiting for?
It’s time to stop wasting money on your old cell phone and start making some cash.