Refurbished iPhones are a popular choice among customers for a variety of reasons. In this guide, we will provide a comprehensive overview of refurbished iPhones, including what they are and why they have become such a sought-after option. By understanding the appeal of refurbished iPhones, you can tap into a vast and largely untapped customer base with immense potential.
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What are “Refurbished” iPhones?
Refurbished iPhones are previously owned iPhones that have undergone a rigorous reconditioning process to ensure they meet the original manufacturer's specifications.
It is important to note that iPhones may be returned for any reason, meaning many are returned in a brand-new condition, with a minimum amount of work put into them to make them saleable.
While refurbished iPhones are more expensive than untested used iPhones, they are still far more cost-effective than buying a brand-new model. Refurbished iPhones are particularly popular with customers looking to save money, including students, bargain hunters, and businesses.
Note: Refurbished iPhones may also be referred to as "renewed" or "reconditioned" on websites. The terms are interchangeable.
Why Buy Refurbished iPhones for Resale?
- A 2022 study carried out in the United States indicates that Apple was the most popular brand among refurbished smartphone purchases, holding 9 of the top 10 positions and over 80% of the total market.
- iPhones have a 57.77% market share in the US as of Q3 2022.
- No other smartphone holds their value as well as the iPhone.
The Market for Refurbished iPhones
The market for refurbished electronics has experienced significant growth, resulting in resellers competing to secure a dependable supplier to meet the rising demand. As long as the current work environment persists and customer priorities shift in the post-Covid world, this trend is expected to continue upward. This trend extends to iPhones and smartphones more broadly.
More Bang For Your Buck
Selling refurbished iPhones can be an attractive business opportunity due to the lower acquisition cost of these devices compared to new ones. This is especially beneficial for customers who want an iPhone but cannot afford the full retail price of a brand-new device.
With the increasing cost of smartphones, the latest iPhone models have become quite expensive, which makes them inaccessible to many consumers.
The lower cost of refurbished iPhones can help increase the potential customer base for your business and provide a chance to cater to customers who are looking for a high-quality device at a more affordable price point.
You can purchase wholesale lots of refurbished iPhones at a lower cost than brand-new devices, allowing you to start your business with a smaller investment.
Refurbished iPhones Work Like A Brand New Phone
By the time a refurbished iPhone is listed for sale, it has undergone a thorough inspection, cleaning, and testing process to ensure that it meets the manufacturer’s original standards and functions exactly the same as a new device.
When a refurbished iPhone undergoes testing, it is evaluated against a set of standards and benchmarks from the manufacturer to ensure that it performs as expected. This can include testing the battery life, touchscreen sensitivity, camera quality, and other critical features to ensure that they are functioning correctly.
Using Refurbished Gadgets Is Better For The Environment
In today's world, sustainability and eco-friendliness are increasingly important factors in consumer purchasing decisions. Refurbished iPhones can be a more eco-friendly option as they help reduce electronic waste by extending the lifespan of existing devices.
The production of new smartphones requires the use of precious resources, including minerals and metals that are often mined in environmentally damaging ways. Additionally, the manufacturing process itself can contribute to pollution and other negative environmental impacts. By choosing refurbished iPhones, customers can reduce the demand for new devices and help minimize the environmental impact of smartphone production.
Moreover, when electronic devices are not disposed of properly, they can release toxic chemicals and pollutants into the environment. E-waste is a significant contributor to pollution and environmental degradation worldwide. By extending the lifespan of existing devices through refurbishment, businesses and consumers can help reduce the amount of electronic waste that ends up in landfills or is exported to developing countries with inadequate waste management systems.
As a seller of refurbished iPhones, promoting the eco-friendliness of your devices can be a selling point for environmentally-conscious customers. You can emphasize how buying a refurbished iPhone can help reduce electronic waste, conserve resources, and minimize the environmental impact of smartphone production.
Warranties
When you source refurbished iPhones make sure you use a supplier, like goWholesale, that offers a warranty to ensure you’re covered in the event something goes wrong with your purchase before you attempt to sell it to your customers.
How Grading Works
Each refurbisher, whether the manufacturer, retailer, or reseller, has their own grading system. Some use numbers, letters or even phrases that describe the condition of the phone. In the following list are the different “grades” for refurbished phones and the multiple forms that the same “grade” can have:
Like New / Excellent / Certified Refurbished / Grade “A”
This is the highest grading that a refurbished phone can have; on some sites the phone will have an a letter grade or be ranked as a 10 on a scale from 1-10. For sites that do not use letters or numbers, the phone will be described as “like new” or “certified refurbished”. The phone has no scratches, dents, and no wear. The iPhone may or may not come in it’s original packaging.
Other than having been previously purchased and used, the phone is almost identical to a brand-new phone.
Good / Grade “B”
This is the second-highest graded quality and usually comes with slight scratches and signs of wear. The screen is still perfect and the phone is fully functional. The number grade is often set to 8 or 9 depending on the refurbisher.
Used / Fair / Grade “C”
Phones in this category have more significant scratches on the back and around the case but still have a near-perfect screen. The numbers 5-7 are often used in a 1-10 system. This is a cheaper option for those that don’t mind scratches on their phone as long as the screen is in a good condition.
Scratch and Dent / Grade “D”
The cases of these phones have seen heavy wear and the screens are often scratched up. You may find a crack on the screen, though the iPhone will still be functional. Be careful when purchasing units with this classification as they will have a low price point but you may open yourself up to customer complaints unless you meticulously document all the imperfections prior to attempting to sell them.
Top-Selling iPhone Models
Check out our guide: 2023 Reseller Forecast: Best Smartphone Models to Invest In, which includes all the latest Apple iPhone models.
Conclusions
Selling refurbished iPhones can prove to be a lucrative and sustainable business strategy. Offering refurbished iPhones provides several advantages, such as cost-effectiveness, eco-friendliness, high-quality, availability, and improved customer satisfaction. Nonetheless, it is crucial to partner with a trustworthy supplier of refurbished iPhones to ensure that you deliver reliable devices that meet your customers' expectations and needs.