How to Sell Your Smartwatch & Wearables (Apple, Android and more)

Looking to liquidate or just score some cool cash off your old smartwatch or wearable? This is for you. New advances in smartwatch technology mean new fancy wearables are inbound, like Samsung’s sought-after Gear S3. If you’re an early adopter, gadget enthusiast or general connoisseur of swank timepieces, chances are you have owned at least one smartwatch in the last three years. They’re the new tech-black, the now must-have gadget. They’re also still trying to find their place in the turbulent and ever-changing digital-age. So changes, advances and features sets keep shifting or getting wholly rearranged. 

As the industry still putters around trying to pin down the purpose and most desired features that a smart wearable user might take advantage of, current owners are facing ownership decisions. Do I sell now and get a decent price or hold firm to my smart-wears? If you answer is to sell and cash in then listen up. 

But to understand how to best maximize the sales potential of your now-used device, we must understand where the market for smartwatches is now and where companies forecast it to be in the years to come. This will help consumers and liquidators alike understand what is valued, where, the importance of features, branding and more.

Smartwatch/Wearable Market Research

A market research report for 2015 details the scope of the current and apparently growing smartwatch market. It seems the market for smartwatches is witnessing a double-digit growth rate across the globe. The North America market is a promising one. Currently, it represents the highest generating revenue territory for these devices.

Aligning roughly with the estimates, here in the North American region, nearly 1/3 of the market revenue was generated in 2013. Growth is expected to continue at an increasing rate. Although, in the near future, the growth of this market is expected to be driven by the Asian region with China emerging as a popular hub, being a low-cost Android-based smartwatch manufacturer. If this is true, a significant wearable product from Asia would have to surface soon.

The Four Step Prep

These may seem like no-brainers to most. However, they are essential if you plan to get the highest possible return for your used wearable. Observe your wearable careful and ask yourself these four basic questions.

1. Can all buttons be pressed with ease and function as intended?
2. Can you Power On the device?
3. Does wireless communication function such as WiFi and Bluetooth, with confirmed device connections?
4. Is the screen intact with no cracks and few minor scratches?

Apple Watch Specific Prep

Apple Watches are fetching the highest dollar right now, despite having the smallest market share for these devices. If you picked one up and are now ready to let it go, you can still earn a pretty penny.

The first thing you want to do is unpair and do a factory erase. This will unpair the device from your iPhone, something you want to do before selling it and passing it on to someone else. To unpair the smartwatch, open up the Apple Watch app on your iPhone and tap on Apple Watch under the My Watch tab.

From there, select Unpair Apple Watch. This will actually factory erase your Apple Watch as well, but it will back up your Apple Watch data before it does this. To unpair and wipe your Apple Watch right from the device, open the Settings app on your Apple Watch and navigate to General > Reset. Select Erase All Content and Settings and type in your passcode (if prompted) to confirm the process.

Local Sales First

 

As with anything you are trying to sell personally without a go-between, it is best to find a local buyer. You can use eBay or your local Craigslist. However, the latter is free, while the former will charge you fees as well as shipping costs.

Choosing local buyers means no shipping and no middlemen. Just remember to be careful about how you use Craigslist or another anonymous online method. Meet in public in a place where you feel safe, that is well populated and well-lit. Any new Apple device is seen as a premium item and is often at the center of many thefts and robberies. Be a safe seller.

Local buyers will be your best choice for unloading individual or bulk stock of most smart wearables that do not register with buyers as “halo” products or premium tech from major companies like Apple and Samsung.

Online Re-Sell Marketplace (Not Local)

There are now a number of online locations where you can resell your Smartwatch and wearables. More places are willing to buy back an Apple Watch or Samsung Gear S than most other smartwatches and wearables. So first of all, if you plan to resell your next Smartwatch purchase, it is good to know that Samsung and Apple are fetching the highest return per device.

So where do you take these more highbrow devices for resell? Unfortunately, our favorite tech buy-back hotspot, AskSender.com is not currently buying back wearables or smartwatches. But keep an eye out as they may open the gates soon.

Apple Watch Re-Sell

The most reputable online resell spot that is taking in wearables and smartwatches is NextWorth. The website reveals that you can get a $186 for your 42mm Apple Watch Sport. Of course, that price is for “good” condition and working properly sell back products.

When you compare that to Apple’s $399 price tag, that sets NextWorth’s buy back rate at around 50% of what you paid just weeks after launch. You’ll get similar results for other models, as well. The 42mm steel Milanese Loop model will get you $343 in good condition, for example, again around 50% of Apple’s $700 (+ tax) retail price. But $500 is the most you’ll get, even for the pricier black stainless steel model that sells for as much as $1100 from Motorola, Pebble, Apple Watch, Sony and Samsung. NextWorth will also buy back your Pebble Watch, Sony Smartwatch, Motorola 360 and Samsung Gear products. While pricing for the Gear has changed, they do offer competitive rates, 9-to-5 Mac reports, “A Samsung Galaxy Gear in good condition will get your $38, while a Moto 360 will get your $107. Both watches retailed for over $250 when originally released but have since been reduced. A Pebble Steel smartwatch will get $73 in good condition currently.”

Other Re-Sell Resources

Shortly after NexWorth began taking in the Apple watch, major competitor Gazelle joined the fray. The company’s blog writes, “Apple’s history has shown there is an insatiable demand for its products, due to their unparalleled design and overall ease-of-use. The wild popularity of Apple products has helped Gazelle become the leading gadget trade-in site. So we looked back into our own data archives to explore how the first generation iPad maintained its value over time.”

Other notable spots to your resell your wearable are eBay, Pinterest (of all places), Cashforyourmac.com (Apple), Swappa a more.

Not much is being said about Microsoft branded wearables and their re-sell. The WindowsCentral blog writes, “If you have been wanting to get the Microsoft Band 2, there’s a chance you could reduce its $250 cost by trading in an older smartwatch or fitness band.”

Microsoft has recently launched a promotion that offers users a way to get up to $250 towards the purchase of the latest version of the Band for U.S. and Canadian residents. The high trade-in cost of $250 is only applicable if you have a working version of the 38MM version of the Apple Watch with a stainless steel case and a Milanese loop. After that, the trade-in prices get lower for devices like the Apple Watch Sport, the Fitbit Charge. 

You can also trade in the first Microsoft Band, which can be used to cut down the price for its successor by $35. This promotion lasts until February 7. People who trade in their older device will get a promotional code via email which they can use to cut the price and buy the Microsoft Band 2 at the Microsoft Store site. The code must be used by March 15.

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