Bad news: many people seem to regret buying the Apple Watch. Good news: if you’re one of those people, you’ll be happy to know that the Apple Watch does have a higher resale value than some of the other smartwatch brands.
Apple Watches started flying off the shelves in April 2015, but the hype appeared to slow down soon after. Once the dust settled, we quickly learned that some feel the functionality is lacking and many purchasers have expressed that it’s not everything they were expecting. Most buyers love their Apple Watch, but it has received mixed reviews among the millions of purchasers. A panel surveyed by research firm Wristly gave the Apple Watch a 97% satisfaction rating in July 2015. As time went on and people used the Watch on a daily basis, some dissatisfied owners began to voice their opinion.
In November, Medium.com shared Wristly’s survey of over 330 people who stated they owned a Watch and were not satisfied with it. 45% of respondents stopped wearing the Watch within two weeks. 55% gave it more than two weeks, but still gave up on it. Lack of performance seems to be the main concern with 80% blaming limited feature-set, 66% rating it as too slow, and 59% not happy with the battery life.
Is Your Apple Watch Collecting Dust?
Dissatisfied buyers rejoice – since the Apple Watch has a higher resale value than most other smartwatches, you can receive a significant amount back if you choose to sell it. Buyback companies, like MaxBack, are a fast and easy way to sell unwanted or unused devices. You could choose to sell it on eBay or Craigslist, but doing so takes time and effort. If you aren’t happy with your Apple Watch, don’t let it sit around collecting dust. Read on to find out what you can receive back and take the plunge. Unfortunately, if you bought a different brand of smartwatch, you probably won’t receive as much back as someone who purchased an Apple Watch.
Smartwatch Buyback Prices and Depreciation by OEM Over 12 Months
We analyzed MaxBack’s proprietary buyback data over 12 months and compared three popular makes and models: the Apple Watch Sport, the Samsung Gear S, and the Motorola Moto 360. The Apple Watch Sport started out at a lower price than the stainless steel version and we thought it would be fair to compare three smartwatches that were released around the same time with similar prices. We compared the data by looking at the same amount of elapsed time from the date each watch was released.
There’s Still a Chance to Recoup Your Losses
It’s been a little over a year since the Apple Watch Sport was released for $349. At this time, you can expect to receive about 34% of what you paid for it, or $120. As it generally goes with Apple products, the Apple Watch has a significantly higher resale value than some of its smartwatch counterparts, the Gear S and Moto 360. After a year of owning the Gear S or Moto 360, you would have received 21% and 18% of the original price, respectively.
You won’t get back all that you paid for your Apple Watch, but if you’re one of the displeased buyers, there is still hope for you to recoup some of your losses if you act fast. Technology depreciates daily and you’re losing out on valuable cash the longer you wait.
Timing is Everything
The Apple Watch 2 is expected to be announced in September and we can presume that Apple will make much-needed changes to the new generation. The release of the 2nd generation will cause the prices to drop even more. If you’re ready to upgrade to the new one with all the fancy updates, you’re going to want to sell your old one. You may think you can’t live without your current watch, but it’s not like a phone in that sense. Let’s be real: you can probably go without it for a couple months, especially if it means receiving the highest amount back to put toward your new one.
When you’re ready, check out www.MaxBack.com! MaxBack pays the max for smartwatches, phones, tablets, and more.
Click here to get a quote for your Apple Watch now. Feel free to leave any questions or comments below.