Cashify algo - designed to reduce sell value rapidly?
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Few days ago I checked the resale value of a 5-year old budget smartphone on cashify. The sell value quoted was around 1k. Today I decided to sell it and went to the website again, only to find that the quote reduced to 400. Have noticed this phenomenon many times before in the past. I can understand a slight drop in price over time, but a 2.5x reduction within a week is too much.
Is cashify’s algorithm designed to reduce the quote of a specific model as it recieves more enquiries? Is it user-specific or does the quote reduce for all users? (Doesn’t seem user-specific, I tried checking from different devices and accounts)
Any way to bypass this artificial drop in value and get the fair value quoted originally?
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yeah that was basically why I was waiting to sell, but now the price itself has dropped too much.
Or have the prices temporarily dropped because of the sale running on amzn/Fk? Many people would be buying new mobiles now and selling their old ones, so there may be a temporary surge in the supply of used phones.
Apply the Coupon Code WCC4- Get 100Rs Off and if you keep searching every day on your SMS and they will send you 250Off SMS Code! Just wait
Bhai, that’s why I waited, but price decreased by 600. Then what’s the use of 250 code?
go check the same device on buying page and it might come back up, play the algo like an algo 😄
can you please share what went wrong ? Planning to sell my phone through cashify ? Is there anything I should know that might help me ?
UPDATE: Price has currently increased to 1.1k. Looks like the sell price depends on the supply of used phones. In May 1st week, Amzn/Fk were running summer sale, many people might have bought new phones and tried to sell their old ones, so the price might have dropped rapidly. Now it’s back to normal.
Lesson: Don’t try to sell on Cashify during sale periods, wait for some time and sell it later to get a better price.
it may depend on the number of people looking to buy that refurbished device from them.
infact for some devices 2-3 days after we equire the price for sale, they send coupons for 100-300 extra value