All articles tagged with #secondhand market
The resale value of electric vehicles is rapidly declining worldwide, especially impacting fleet operators and private owners, due to uncertainties about battery lifespan and market valuation, with Tesla retaining value better than Chinese brands, and regional differences affecting resale prices. Emerging battery-as-a-service models and improved battery data are seen as potential solutions to stabilize the market.
A 39% U.S. tariff on Swiss watches is likely to increase prices, potentially reducing affordability for Gen Z buyers and shifting demand towards pre-owned and domestic markets, while impacting the Swiss watch industry and its supply chains.
Nintendo's efforts to prevent piracy on the Switch 2 include bricking consoles that detect unauthorized use, leading to issues for secondhand buyers who may unknowingly purchase bricked devices, complicating the resale market and raising legal questions about the use of MiG carts and device restrictions.
A bride-to-be found her dream 70’s-style wedding dress in pristine condition at a thrift store for $24, a nearly 99% discount from the average wedding dress cost, showcasing the benefits of thrift shopping for affordable, quality clothes while being environmentally friendly. The secondhand market for wedding dresses offers a cost-effective and sustainable alternative, contributing to reducing waste in the fashion industry and the carbon footprint, with the added convenience of online platforms like Poshmark and thredUP.
Startups are racing to develop and implement battery health and performance tests for used electric vehicles (EVs) to help buyers accurately assess the value of secondhand EVs. Unlike traditional combustion-engine cars, the value of EVs depends largely on the battery's driving range and ability to hold a charge. Companies like Altelium and Aviloo have developed battery tests that can quickly measure battery health, enabling more transparent and reliable transactions in the used EV market. The lack of visibility and concerns about battery life have contributed to lower used EV prices compared to fossil-fuel models. Properly valuing used EVs is crucial as the market is expected to see a significant influx of vehicles in the coming years.
Apple has addressed complaints about battery degradation in the iPhone 14 by introducing new battery health features in the iPhone 15. Users now have the option to limit charging to 80% of maximum capacity, which helps slow down battery degradation. Additionally, the iPhone 15 provides detailed information about battery manufacturing date, first use, and cycle count, allowing users to monitor their charging habits and assess overall battery health. These features may also benefit the secondhand market by providing potential buyers with more information about the device's condition. However, it is unclear if these features will be available on older iPhones or how they interact with serialized battery components in the new model.
The demand for luxury watches, particularly among younger consumers, is driving growth in the secondhand market. With waitlists for new watches ranging from months to years, consumers are turning to secondhand shops to immediately purchase the timepieces they desire. However, the secondhand market comes at a higher price, with some watches being thousands of dollars more expensive than their brand-new counterparts. Despite the higher cost, buyers are attracted to the investment potential of luxury watches, as they have outperformed traditional investments and demonstrated resilience during economic downturns. The market for luxury watches is also gaining credibility, with increased transparency and accountability through authentication services and the rise of information in the digital era. Social media platforms like TikTok are also playing a role in attracting younger buyers to the secondhand market.
Prices for luxury watches on the secondhand market have dropped to a near two-year low, reversing the record highs seen during the pandemic. The average price of a secondhand luxury watch has fallen 31% since March 2022, with iconic models from brands like Rolex, Patek Philippe, and Audemars Piguet experiencing a particularly sharp decline. The market correction is attributed to an influx of sellers and the availability of previously scarce watch models. While prices have stabilized, they remain higher than pre-pandemic levels, presenting a potential buying opportunity for millennials and Generation Z who are increasingly interested in luxury watches.
The Boppy Newborn Lounger, which was recalled in 2021, has been linked to at least 10 infant deaths since 2015. Two more deaths were reported after the recall, bringing the total number of deaths to 10. The U.S. Consumer Product Safety Commission is urging consumers to stop using the loungers and asking online marketplaces to crack down on attempts to sell the pillows secondhand. The cause of death was undetermined in one case, while the other was due to positional asphyxia. Parents should stop using the loungers immediately and contact Boppy for a full refund.
Researchers from ESET have found that less than half of secondhand enterprise routers in their sample were wiped of internal data, posing a risk for both the companies that sold these routers and their customers. Out of the 18 corporate routers that the researcher team purchased secondhand, only five had been wiped. Nine of the routers had been left as is, two were encrypted, one was dead, and one was a copy of another device. The nine devices that hadn’t been wiped had enough information stored on them to identify the previous owners, and also login information for the organizations’ VPN, credentials for a communication service, and hashed root administrator passwords.