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Shaw Capital Management News: Top Tips in Selling your Old Mobile Phone

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Mar. 12th, 2012 | 10:13 am
posted by: smithpatroklos in patroklosmith


Countless of outdated mobile phones languish in cupboards and drawers across the UK, and there are dozens of websites that will offer you cash for old handsets – but are you getting a good deal, watch out for scams online. Good thing we have Shaw Capital Management here to keep you updated.

In offering money for a used, frequently useless phone, mobile phone ‘recycling’ companies usually sell of those handset devices rather than recycling it in order for them to provide a unique perfect service. The process goes like this; Customers will enter to- the make and model of their phone, its condition, and some personal details into a website. A quote appears and the company sends out a freepost envelope. Pop the phone in the envelope, then the Customers will send it back to the company and within a few days the money will arrive via cheque or in your bank account. At least, that is how it is supposed to work.

But if customers are not careful they can end up with a bad deal – or nothing at all. To test the market, one of the customers searched online and found what appeared to be a good offer: £65 for his old phone – a handset he had bought three years ago. He posted it and waited for the bank transfer. But after Cash4Phones examined his used phone, He got an email informing that “excessive wear and tear” meant the company could only give him £39.33.He had five days to accept. After He complained – the phone is virtually free of scratches and the screen is intact – the company upped its offer to the original price.

On one popular phone recycling forum, we found close to a hundred similar complaints about Cash4Phones offering less than its original quote because of “wear and tear” – far more than nearly any other company. Most of the complaints appeared to be resolved on the forum after Cash4Phones increased its offer, and the company says online forums are skewed towards people who are dissatisfied. It says it has many more customers who are perfectly happy with their service and who do not complain. But in view of the said offer of the recycling company which offers less than its original quote once it receives the phone is ordinary. In addition, Brian Turner of Techwatch.co.uk says a significant proportion of phones offered to recycling companies get lower offers when the company cites some kind of damage. Based from Mr. Taylor one the study made by the recycling company two years ago found that about 20% of phones were marked down in this way.

Here are some tips in selling your unwanted mobile from Shaw Capital Management;

§ Don’t say yes to the first offer – shop around on the High Street and online using price comparison sites

§ Ask friends for personal recommendations and read online reviews of mobile recycling companies

§ If a company will not pay the price it initially quoted, challenge them

§ If using an online mobile recycling firm, do not send your phone to them using freepost envelopes – send it recorded delivery in case it goes missing

§ See what your phone is selling for on online auction sites – this might be your best deal

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