The speed of technology is lighting fast. New device models come out from different manufacturers every year. As new models are released, the value of older devices depreciate. However, this does not mean that all your IT assets need to be disposed of. Some IT devices carry value throughout their life. Even if it's junk to you, it’s worth something to someone, somewhere.
In this blog, we'll look at the factors that make up the value of a device, as well as share some tips on ways to preserve its value and receive the most money for your retired IT assets.
The IT Hardware LifeCycle
As mentioned above, due to the speed at which technology changes and as every new model is released, the value of your older devices depreciate. Although it's important to get the most out of your devices, it's also important to evaluate the devices so that you get the most from them when you retire them. Three to five years is typically the best time for selling used IT devices, so don't hold on to them for too long.
Having a hardware lifecycle helps you to understand how long to keep an asset before it becomes too costly or too risky for you to maintain. As an example, the typical IT server has a 5-year lifecycle of working at optimal performance, and is typically covered under warranty if something should go wrong. After the 5-year period is up, a host of things could potentially happen: vital components start to break, the warranty expires, and the operating system it is running could stop being supported. You want to manage that server's lifecycle and have a plan in place that will either transition you to a new server or give you extended warranty on the current one. You don't want to run into problems that are going to end up costing you more money than the equipment is worth.
Auto-Updates & Locked Devices
Many organizations may be under the misconception that devices with expired auto-updates don't hold value. Although the potential payout does decrease, the devices still hold value and your organization should still be able to re-coop some of the value. The same rings true for locked devices. If a device is locked, you will receive only fraction of the value versus an unlocked device. Spend the time to ensure that all your devices are unlocked.
Estimating the Value of Your Old Devices
Many organizations overestimate the value of their IT assets. When an asset has been in circulation for a few years, it is likely to have some wear and tear, or even some major flaws. While these devices may still have great value, they may not bring you as much as you think.....be realistic in your expectations.
Accidental drops or minor damage is likely to occur throughout a device's life cycle, especially in the hands of remote/traveling employees. There are many options (protective cases, proper storage and proper handling....to name a few) to protect the exterior of many electronic devices. Fewer scratches, dings, and dents could increase the amount of your payout at retirement.
Before letting go of your retired devices, spend some time surveying the devices you plan to sell. What condition are they in? Keep in mind, that each IT Asset Disposition (ITAD) provider will have their own set of device grading standards that they will use to value the devices upon arrival at their location. Before selecting an ITAD, take a moment to look at their grading system and try to determine how your devices will match up.
Proper Retirement Cycle
Do you have a proper plan in place for the retirement of your IT assets? If not, start by reviewing your technology budget. Selling retired devices that still hold value is a great option to refresh your IT budget.
After your budget has been accessed, the next step is finding the best ITAD partner to make the collection process as smooth as possible. It is key to find a partner who offers an IT Asset Recovery Program that will assist in determining the maximum value of all your retired assets. It is also essential to find an R2 Responsible Recycling company that will securely remove sensitive data prior to the reselling or destruction of your devices.
Getting Started
If you're interested in learning more about our device buyback process, our secure data destruction program and all of our other services, including the certifications we hold, please visit us at www.oceantech.com.
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