[SmartCat]

Cashify.in is a VC funded startup that buys and sells old smartphones, tablets, laptops etc. They also offer screen/battery replacement and other repair services.

https://www.youtube.com/watch?v=FZdChF8bGC8

I took a huge leap of faith and ordered a refurbished Apple iPhone XS Max for around Rs. 20,000. For a phone first launched in 2018/19, it is NOT cheap. But to check if the asking price was right, I looked up the prices of XS Max on eBay US ($200 to $250) and only after that, the price seemed fair. Unlike a new phone ordered on Flipkart or Amazon, it took almost 10 days for the phone to arrive. But to my pleasant surprise, the packaging is as good as what you get when you buy a new phone:



Packaging contains the smartphone, a charger (not original Apple), sim eject tool and a warranty card (6 months). Not a single dot or scratch on the phone - it looks as good as new.



For an iPhone launched in 2018/19, the XS Max is packed with “flagship” features like:

- 6.5 inch display
- OLED screen!
- Wireless charging/IP68 rating
- Running the latest iOS 17.3.1 (I had to do the software update)
- Smooth performance. AnTuTu score of 588,000 (comparable to new Rs.25k android devices)

So summarizing pros and cons of buying refurbished phones on Cashify:

PROS:

- Backed by VCs and also has brick and mortar stores. So more trustworthy than buying pre-owned phones via Facebook marketplace or OLX.
- New phone-like buying experience (packaging, warranty, charger, pay via credit card etc)
- Wide variety of android & iOS devices to choose from
- Looks like Cashify replaced the battery. Because 'battery health' was 100%


CONS:

- Still requires a huge leap of faith to buy refurbished phones
- Prices are NOT exactly mouth-watering. You can probably find equivalent performance new phones at similar prices.
- No instant gratification. Took 10 days to arrive.

[ex-innova-guy]

I like how they have packaged it and added the warranty card too. Was the Cashify app already downloaded on the iPhone when you got it out of the box?

Looks like Cashify replaced the battery. Because 'battery health' was 100%

Interesting. I say this because if you get this replaced by a non-authorised battery it will always remain at 100% and we as a consumer have no way to find out if they replaced it with an original battery.

[SmartCat]

Originally Posted by ex-innova-guy

Was the Cashify app already downloaded on the iPhone when you got it out of the box?

Obviously no! The phone is given to you after a factory reset. So you have to setup the phone like you would on a new phone. But I have installed the app on all my devices to check its resale value. Apparently, they will offer upto Rs. 15k for this particular Samsung phone:

Interesting. I say this because if you get this replaced by a non-authorised battery it will always remain at 100% and we as a consumer have no way to find out if they replaced it with an original battery.

- So this is where multiple rounds of private equity funding & celebrity brand ambassador helps. Last year, they clocked Rs. 850 cr in revenues
https://inc42.com/buzz/cashify-earne...ptops-in-fy23/
So low probability of them saving a few hundred bucks and installing a fake battery

- Also, Battery replacement service is part of their regular service offering to the customers.
https://www.cashify.in/battery-repair

[warrioraks]

Sold an old laptop to cashify. The price was slightly lower than what I could have got from olx. But the hassle of talking to multiple people and bringing them home to checkout the laptop in person was too much.

For anyone selling phone or electronics, it’s a pretty hassle free experience with home pickup available as well. Their value proposition is similar to Cars24. Instead of spending time managing multiple conversations with strangers, dispose your stuff with in a few hours in a much more professional way.

[shankar.balan]

Ive used cashify several times. Their prices are very reasonable and they are professional in their evaluation and dealings. They give you the choice of straight cash or payment via a gift card on Amazon or Flipkart. Opting for the Gift Card secures you an additional 10% top up on the overall value. So if you sell your old phone to cashify for Rs 10,000 and opt for the gift card then you effectively get 11000. This works very well for anyone who uses Amazon or Flipkart regularly. The Gift card typically has one year validity. The whole transaction is very process driven and authenticated properly with Aadhaar card, photo and OTP systems.

The trick is to keep your smartphone or tablet for 2 to 3 years before upgrading it, so that you realise the best price for the old phone or tablet that you are selling.

I would directly compare cashify and its experience and processes to Spinny, in the world of selling second hand cars in terms of value offered, transparency, evaluation, transaction processes etc because Spinny is very process driven as compared to Cars24.

All of these firms are VC Funded. And they have definitely helped in creating a visibly more transparent and predictable experience for consumers who wish to trade in their old machines, equipment and automobiles.

OLX somehow comes across as totally untrustworthy - like Craigslist. One would definitely not want to entertain contact with multiple potential scamsters. Much better to make a deal with the platform and close the paperwork in a transparent manner and become relieved of the whole headache of onwards disposal of one’s equipment/ machinery/ automobiles etc.

[Sudarshan42]

Wife bought a refurbished Macbook Air for about 40k on Cashify. Excellent condition, very happy with the overall experience. Will look to sell my current phone there once I'm ready to replace it.

[vattyboy]

4 years ago, I bought a used Samsung Galaxy S10 from CEX( Webuy) and my experience with them was great. The phone was just like new and worked smoothly.

My experience with them was great.

[Fuldagap]

Cashify works on Franchise Owned Company Operated model. The ownership of a brick & mortar outlet is franchised out to somebody while the hiring of employees, supply chain, etc is managed by Cashify. The employees are generally on a good salary and continuously monitored for performance.

The old phones are continuously bought by the employees from nearby mobile shops in mobile centric markets and also directly from customers (offline and online) making sure the phones are good and sent back to Cashify for being refurbished. Cashify was monickered ReGlobe prior to being funded and rebranding. Prior to even that they were a waste management company based out of Faridabad. As far as I know they have their own robust centre for refurbishing and testing phones making sure of good quality being supplied. The owner of the outlet earns a small fee on each sale of phones, accessories and services while the majority of profit goes to Cashify.

Have not bought a refurbished phone from either Cashify or Amazon but it seems worth a try someday.
Once a mobile phone is opened and refurbished by a shopkeeper or by Cashify, there are a lot of things that can and do go wrong though. One can never know whats inside the phone being sold as far as the hardware is concerned. It's indeed a leap of faith. For 20k I'd rather buy a new Moto phone probably. The used phone market is huge in almost all cities alike running into thousands of crores and segregating the wheat from the chaff is a daunting task for a person.

[libranof1987]

Have used Cashify very regularly for several years now - sold 3-4 phones and a laptop.

Each phone I've sold to Cashify was about 4-5 years old at the time of sale, so any money received for it was good money. As you can expect, the Cashify agents who come to collect the device will do their best to find a fault and reduce the payout. But that's the trade off given the convenience of the service.

From the link SmartCat shared, the FY23 losses went up 49% to 148cr, so looks like it is VC-funded party as most "startups" are, at least for now. Wonder if that is because they're expanding and spending money to fund growth, or just throwing money for customer acquisition.

[kvamshi04]

Originally Posted by SmartCat

Obviously no! The phone is given to you after a factory reset. So you have to setup the phone like you would on a new phone. But I have installed the app on all my devices to check its resale value. Apparently, they will offer upto Rs. 15k for this particular Samsung phone:

I tried this with my 2020 S20, for almost 6months I was contemplating to sell it. The update to S20 was a s23, which was 70k, and I didn't feel like spending so much on a phone. After the launch of s24, I got a good deal on S23 and then sold my S20 to Cashify. The page quoted 12k, the surveyor came and checked the phone, ran some tests and found one of the sensor was not working and the battery too wasn't in good shape. Closed the deal at 10k, but didn't give the original cable and the charger. The surveyor told, even if you give your original charger and the cable, it will fetch you 400-500/-. Bid a good bye to the phone, got the money into my account immediately via UPI, and also received a bill for the same.

It's was a pleasant experience, if you are planning to upgrade, provided you have made the best out of your phone and used it for 3yrs.

[mandahasa]

This one looks similar to https://compasia.sg/ in singapore. Compasia gets their supply of phones directly from apple buyback program. Probably that is how cashify.in also gets.

I had bought an iphone 8 from compasia. The nuances of iPhone sometimes creates issues. The phone i bought was made in USA and did not have VOLTE feature that I wanted as some of the local operators use it. So I could not make any voice calls. After many calls and emails, compasia replaced the set with a local set made for singapore.

Based on Iphone Model number, its possible to find out the country its made for.

[SmartCat]

Originally Posted by libranof1987

From the link SmartCat shared, the FY23 losses went up 49% to 148cr, so looks like it is VC-funded party as most "startups" are, at least for now. Wonder if that is because they're expanding and spending money to fund growth, or just throwing money for customer acquisition.

I think it is because of their unusual accounting practices. Actually, when they acquire a phone or laptop, it should be considered an 'asset' in their balance sheet and not 'cost'. That's because the gadgets they acquire has a value and they intend to sell them at a profit. But they are showing all their procurements as 'cost' and that has shot up from Rs. 450 cr to Rs.750 cr



It looks like they are aggressively building up an inventory of gadgets to fuel growth.

Meanwhile, I had done a small experiment. After ordering XS Max for Rs. 20k, I checked the maximum value they would offer for the same phone. The answer is Rs. 15k! So their margins seem to be good enough to cover for all the logistics/salaries/spare parts/packaging/inventory costs.

[Sebring]

If the iPhone is over 4 years old, I found the rates not that great. As someone said, the trick is to turn in the device in the second year.

[IamNikhil]

Have used Cashify since few years now to sell around 4 phones. The price that they show on the website is good, but invariably the guy who comes home to check and pick-up the phone, will spout some nonsense and try to con you. I have always adopted a take-it-or-leave-it attitude, whereby they give in ultimately. A few hundred rupees here and there is fine for me too. Ultimately, it's a convenient service and rate-wise is definitely better than the one offered as exchange price on other platforms, when you buy a new device.

[CzechItaliaMoto]

I've had a pretty negative experience with Cashify. Back when my grandfather's iPhone 5C conked off after 5 years of usage, we decided to get him something of similar form factor. Went for an iPhone 8, bought it for around 15k around two years ago on Cashify. We decided to go the refurbished route after having a positive experience buying a Google Pixel 3(which I still use to this day), and it did not have any problems. When the iPhone arrived, the physical condition was pretty good, no scratches or any visible damage. However, the battery life was significantly degraded. It used to hold charge for 20 minutes at max, and we were immediately disappointed. Thankfully, the Customer Service was pretty decent, and they agreed to take the phone back and return the money after I sent them a video of what was happening. After this whole ordeal, we decided not to go through Cashify again.

Around this time, Flipkart had also launched their Refurbished brand, and we decided to give it a try. The phone costed around the same as what Cashify was charging, and appeared to be in similar physical condition. However, the charger that they provided was a non-genuine one and we have not used it ever since it showed us that it was not doing its job. The battery life is not the best, but we decided to accept it rather than going through the whole ordeal again, as it was still giving us a day's usage, and displayed 98% health.

Now that Flipkart has discontinued the whole Refurbished lineup, if I were to buy another phone, I would give Cashify another go, or get it on Amazon.com Renewed, and have someone carry it over. For some reason, refurbished products bought in the US turn out to be in very decent shape, and is good VFM. I've been using a Dell Precision and the Pixel, both refurbished and bought on Amazon US, they are still going strong with no issues whatsoever.