Buyers or sellers can use the WorthMonkey appraisal service to quickly and easily find appropriate prices for new, refurbished, like-new, good and broken iPhone 4 smartphones. The service works by gathering and analyzing data for electronic goods from across the Internet to determine demand and its effect on prices.
As with other used electronic goods, the value of iPhone 4 smartphones is dictated by how much buyers are willing to pay for them. Demand for the product directly influences the value of an electronic product, as does its current state at the time of sale; new and like new items command the highest prices, while broken devices are only worth the value of their salvageable parts. This is especially true for discontinued products, such as the iPhone 4, which are attract the same level of support as newer devices.
Because of the strong influence of demand on iPhone 4 prices, buyers and sellers can find it hard to correctly determine an appropriate price for the device without a broad understanding of the market. This is where appraisal services such as WorthMonkey can help.
Where access to appraisal services is limited, users can also refer to depreciation trends for smartphones when trying to determine a good price for the iPhone 4. According to the data crawling company Phoneonomics, iPhones' values fall to about 89 percent of their manufacturer's suggested retail price after six months, 63 percent after one year, 53 percent after 18 months, and so on.