Everyone wants the brand new shiny thing that Sony, Samsung, Apple, or a dozen other manufacturers have released this year. Of course they do! The marketing makes it almost impossible to deny and the upgrades are always out of this world.
Indeed, technology is moving at such breakneck speed these days that it seems as soon as you’re out of the store with your brand new electronic that you’re out of date. So why pay top dollar to stay ahead of the crowd for just a little while? We don’t and we can’t possibly recommend that you do it either!
If your dream phone or other electronic is released any time before July, it’s very likely that you’ll see it at a deeply discounted price come Black Friday. Why is this? Because the stores are already trying to light clearance the product for next year’s model.
Yes, stores plan this far ahead in their marketing. For quickly produced electronics, the ideal turnover time is about six months- give or take a little bit. Laptops are a great for instance here. Most laptop models are current for six to twelve months, depending on the exact brand and what quality it is. If a model is not current, the store will likely receive less money for it. It’s better to turn a higher profit on Black Friday than it is to turn a lower one on President’s Day.
Open Box vs Returns and Refurbished
People drop and ruin their merchandise all the time. Most of the time when a item is brand new and simply got thrown in a bath tub, the company will just charge the replacement fee and send a new version of the item out. They then take the damaged one, refurbish it to manufacturer standards and place it back on the market at a 20%-40% discount. This way the company makes the money back. The replacement fee acts as the buffer.
With returns, items are typically sold as new if untouched by human hands. Otherwise, they are sold as “open box” and may or may not contain all necessary connectors and wires. Open box items are usually a fantastic bet with seriously expensive electronics, almost always do come with all of their parts despite disclaimers, and it can save you a bundle.
Sometimes you’ll find seriously great deals on Craigslist or other local classifieds sites for brand new electronics. So why do you find them there? A lot of people will flip electronics purchased with online giftcards or won as rewards for a little under their cash value instead. Simply put, you get a great deal and so do they. Everyone walks away happy.
If you believe someone is attempting to sell disreputable merchandise, or if the boxes look as if they’ve been tampered with in some way, it may be best to ask for the receipt. Even those purchasing these items online or receiving them as gifts should have some way to prove that they legally own the product they’re trying to sell.