(Pocket-lint) – Now is a great time to trade in or sell your old Samsung Galaxy handset. That’s because trade-in prices are likely as high as they’re going to get before the Galaxy S22 series is on the streets and shoppers look to get the latest and greatest Samsung phone.
As the Galaxy S22 series approaches launch, the best thing you can do is confirm a trade-in price. That’s if you want to trade-in your device and get some cash back for it, or if you want to cash in your old Galaxy handset you’ve got in a drawer.
According to Compare and Recycle: “During the Samsung flagship’s first year on the market, the trade-in value pre-announcement of the next Galaxy S lineup is higher by 7 per cent on average. Following the unveiling, prices gradually drop by around £55.”
Usually, you have a few days of grace after the event while prices are still OK, but after that trade-in prices tend to decline, so the cash you’ll get can only go down hill. Most trade-in sites will guarantee the price they give you for a couple of weeks, so it’s worth getting yourself a price before the prices slide off.
MusicMagpie, one of the big names buying used devices, says that “a Samsung Galaxy S Series phones depreciates by 10 per cent three months after the next device is launched.”
The result would be that those looking to trade in the Galaxy S21 or S21+ could lose up to £33, while someone looking to trade in the Galaxy S21 Ultra could lose £41 by waiting, according to MusicMagpie. At the time of writing, you could get £460 for a Galaxy S21 Ultra.
“However, we have even seen some Galaxy S models depreciate by as much as 21 per cent three months after a new model is launched, such as … the S20, when the S21 launched. If the S21 were to follow suit, that could see it depreciate by £68 in three months following the S22 launch,” according to MusicMagpie.
Using a service like MusicMagpie or Mazuma Mobile is a good way to recycle your device and get some cash back as you prepare to buy yourself a new phone. Compare and Recycle is a comparison website that will compare trade-in values to help you decide where to trade-in your device.
However, in recent years Samsung has started to offer really attractive trade-in options of its own, which you can use to offset the cost of a new device. Obviously, if you want to buy the Galaxy S22, you’d need to wait for that to launch – but it’s worth checking the value of your device which would be discounted from the cost of a new phone – if you plan to buy direct from Samsung.
Writing by Dan Grabham. Editing by Chris Hall.