Wholesale Used Phones Market Update
There have been changes in the mobile phone customer market. Consumers used to purchase a new mobile phone every 20 months. In recent times, this has grown to every 29 months. Consumers are using their devices longer than they used to.
There are various reasons behind it. Mainly, ever-increasing prices for new phones are said to be part of the cause, and this trend shows no sign of slowing.
However, consumers still need to purchase devices to replace stolen, lost, or broken ones. Price-conscious consumers always look for a better deal and value for money. Thus, it’s an opportunity for retailers to offer quality used/refurbished mobile phones at a much more cost-effective price.
Testing and Grading
All our refurbished mobile phones undergo thorough electronic testing before leaving our warehouse, ensuring that every device we sell is fully functional.
All the devices undergo a rigorous 20-point testing process to ensure they are fully functional, followed by cosmetic grading.
Every mobile phone is data-wiped and restored to factory settings. Its IMEI is verified, and we check for any iCloud or Network locks.
The phones are then cosmetically graded by our expert team, who individually inspect each handset’s physical condition, noting any external flaws on the case and screen.
Our highly reliable and consistent grading system ensures that you always meet the requirements of your customers.
VAT Margin Calculator
ZTOS is familiar with Value Added Tax (VAT), but there are some exceptions to the standard 20% rate. Among the exceptions is the VAT Margin Scheme, a method of calculating VAT for businesses selling used goods such as used mobile phones.
The VAT Margin Scheme differs from the standard VAT rate in two key ways:
- The rate is 16.67%
- It is only charged on the margin you make from selling the product.
The VAT scheme depends on the stock, and you can enquire about it before placing the order.
Always consult your accountant or HMRC for detailed guidance.