Best Buy’s new ‘Buy Back’ program to launch January 5th for phones, laptops, tablets, and TVs

By on Jan 3, 2011 at 1:27 PM
Exclusive January 3, 2011

One of our trusted Best Buy sources has come through with several documents that provide additional details on the retailer’s new Buy Back program. The new protection plan, which allows consumers to sell back their devices for a percentage of the its original MSRP, will launch covering phones, laptops, netbooks, tablets, and TVs priced under $5,000 on January 5th; the service will be expanded to “other product categories” sometime during fiscal year 2012. To heighten awareness, commercials and advertisements will begin hitting the airwaves and print media beginning on February 6th.

The pricing structure for television “buy backs” will vary from that of computers, tablets, and smartphones. TVs under 6 months old can be turned in for 50% of the original full-retail price; 6 to 12 months, 40%; 12 to 18 months, 30%; 18 to 24 months, 20%; and 10% during the third and fourth years of ownership.

All “buy backs” will be issued in the form of Best Buy gift cards and the company is positioning the program to its sales staff as “protection against obsolescence.” Hit the jump to see a few more images and be sure to let us know what you think.

Tags:
, , , , , , , , , ,
39 Comments

Related Articles

  • Rvd

    Buy my electronics at 50% of what I originally paid for them? WOW they’re REALLY doing me and my community a favor! I don’t know how to thank them!

  • guest

    thats good but what are they going to do with the products?????resell??

    • Anonymous

      or break into pieces and sell the parts for a hell of a lot more? I bet there’s a lot that can be recycled

    • http://www.facebook.com/mmarzett Michael Eric Marzett

      They’ll wind up on their auction sites probably. they won’t sell them in the stores.

  • Rvd

    Buy my electronics at 50% of what I paid for them, then sell them at a profit? WOW they’re REALLY doing me a favor. That’s so very nice of them. How can we ever thank them?

  • David

    I think one could do better on Craigslist or Ebay…

    • http://www.facebook.com/mmarzett Michael Eric Marzett

      Craigslist yes. Ebay is such a ripoff when it comes to high ticket items with regards to the fees that they AND paypal charge.

      • David

        I’ve never used eBay so I defer to your knowledge of their fees. :)

  • Cer

    This is a hot deal for Sprint Premier customers. Check it:

    Buy an EVO on day 1 for $199.99 plus the $59.99 BB Buyback = $260. Retail price of EVO is $449.99.

    Sell it back to BB the day your 12 months expire, get 40% back = $179.99, in the form of a BB gift card.

    Sprint Premier customers can upgrade after 12 months. Use the $179.99 gift card to get the EVO2, which will likely retail for $199.99, meaning you pay $20 (plus another $60 to to the Buyback all over again).

    So you’ve paid $340 to get two phones that you would ordinarily have to pay $400 for, and the $340 includes the $60 you need to do it all over again. Win!

    • Brian

      But you’re left holding one EVO2 in your hands, so you don’t have two phones. Just buy the EVO for $200, skip the EVO2, and when your contract expires, get the EVO3 the following year. No penalties, no mess, no fuss. And you save $140 by waiting.

  • Anonymous

    Don’t know how I feel about this yet. Ill find out soon though.

  • Selbyman

    They misspelled ‘complimenting’ in their ad. It should be ‘complementing’. Nice job, Best By.

    • AnthonyWDJr

      Nice job… you misspelled Best Buy… lol when you bash spelling you should really use spell check.

      • Jared

        lol when you bash self-referencing ironic comments you should really use your sense of humor ;)

  • Newtonjosh1

    Dumb ever heard of craigslist. I am sure
    some who is dumb or lazy will use it

  • Bluegarvis

    I think this is truly innovative. Big Box retailers have been struggling to make profits for several years now. This is another of the potential profit centers and works for someone like me. I live in an area of California that is not on the leading edge of technology. Sure, I can list my items on Craigslist but they hardly ever sell. eBay is too difficult to ship through for items like 52″ TV’s. So, I can now have a known resale price for my electronics when their inevitable obsolescence comes to be. I have options now, sell on Craigslist for above trade in value or trade-in hassle free. I like this!

  • Djo

    What will they do with all the old electronics? They won’t be of much value used, and it’s not like Best Buy can put them on Ebay. Does this mean Best Buy is going to start carrying a wide selection of used items outside of video games? As if they didn’t have a mess of a store already (things laying in the floor, etc.)

    • Anonymous

      no, it means they will make it next to impossible to return the item(s). kinda like it is now, i bought a camcorder brought it home started charging the battery, in the mean time i was checking out the model i bought, online, and found it 80 dollars cheaper, so i printed off the add went back to best buy. but they only match LOCAL competitor offers, internet is local? right in my house. so i said fine ill just return it, because i opened it they wanted to charge me a 25% restocking fee! needless to say i just kept the camcorder, and i do like it, but will not shop at best buy for anything anymore.

      • http://www.facebook.com/mmarzett Michael Eric Marzett

        best buy is supposed to be eliminating the restocking fees everywhere…. we’ll see…

      • a_mobile

        if only people would read the backs of the receipts or the return policies. If im shopping for clothes, electronics, or anything, always always always read the return policy. How many days do you have, do you need the tags, is this a returnable item im buying, is there a restocking fee? Can I open it?.

        Also you should do your research before you buy anything, dont blame it on a company or an advertisement! First off you may end up spending more than you need to, it may not be the product you need, it may not fulfill your every desire.

  • http://twitter.com/D4mi4n1988 Damian Wozniak

    The majority of people will like this option if they like new tech, since most of them probably don’t use craigslist and don’t want to deal with eBay.

    • Anonymous

      craigslist : getting ripped by fraudsters.
      eBay: I can’t believe so many people still pay TO LIST.

      Amazon is probably the best option, free listing, and you sell everything pretty much the same day with so much traffic.

      • http://twitter.com/D4mi4n1988 Damian Wozniak

        I haven’t paid for listing on eBay in a long time, but they get you with the fees after like final sale fees and then the pay pal fee. Its a win win for them

  • Davidgor_2000

    Gift Cards as a buyback vechicle is just a scheme to market more new products. |If Best Buy wants to buy back , let them buy back by issuing checks to consumers. Otherwise this marketing venture has junk value

    • Wfrunner

      why would we give a check to someone like you.. who will go online and try to buy it cheaper then using the money to buy it from Best Buy.. and then complain that the stuff you buy online does not work and try to have Best Buy fix it..

      Think Again

  • Anonymous

    I don’t understand. I bought a TV from Bestbuy, but I don’t have a receipt. So, how are they going to determine this.

    • NOONE

      READ THE POST. YOU WOULD HAVE TO HAVE BOUGHT THE BUY BACK PLAN TO BE ELIGIBLE FOR THE BUY BACK PROGRAM! AND THEY CAN LOOK UP YOUR RECEIPT AT THE STORE

    • Bill8869

      if they take it i don’t pay great as long as we [us] recycle excellant

  • http://technolo.co/blog/ technoloco

    It’s like Gazelle!

  • http://www.youtube.com/iamtrinyd Triny D

    Good idea actually

  • Vthunter

    And you spelled Best Buy wrong! Putz.

  • Kirschjmk

    If you change your technology that often (6 months- 3 years) chances are you are still holding on to those gadgets or giving them to friends or family. Beginning of the end for BB, good luck becoming a waste management company.

  • guest

    They also messed-up when it comes to their time breaks – what happens when it’s been 12-months – is it 40% or 30% back on TV’s? how can you have two different % for the same timeframe – too vague. And how much “extra” does this add to the initial purchase? Hmmmm.

  • Sam

    This is a great supply chain strategy. By having this program, it encourages end customers to recycle their old products with a money incentive. All of these hardware items are made to stock. As a result, there are a lot of common/simple components that they could use again through reverse engineering the products. This saves Best Buy money on paying to source for new parts, helps keep the earth green, and puts some money back in the pockets of end customers. Bravo Best Buy.

  • Infinityends

    I hope they don’t convince too many suckers to fall for this crap, esp when you could get more back just calling neighbors and asking if they or anyone they know are looking for a TV

  • A_mobile

    no one is forcing anyone to do the buy back. lol so much whining. Best Buy, HH greg, sears, target, walmart, are all profit organizations… duh. I personally dont buy stuff from ebay or craigslist either, I love amazon i’m even a prime customer. But my one stop shop no waiting and I get what I want and need is bestbuy, the only place i buy electronics from, and if i can get some money back when i want the newest greatest thing instead of having to fork over a “RETAIL” price, I can deal with getting 50% back. For example tablets and phones, there is always something better out before im even close to upgrading! For me this is a great deal, for you it may not be, but thats ok, just move along…. stick to your ebay and CL. Its a free country no? haha

  • Romey83

    I think this is a good policy. However, what are the fine details?

  • fr3d0

    selling a phone on craigslist ensures you get spam and that someone is going to get your phone number and you have to meet a stranger somewhere. also, beware the lowballers. BTW search for EVO on craigslist and see how much crap someone has to go through to find a phone. the market is flooded with dealers. your ad will get lost quickly.

    this program works great if you like to update your goods often. it is practically a no brainer on cell phones. i have about 5 phones that i tried to sell, but couldn’t or didn’t have the time. by the time i get around to selling it, it isn’t worth the trouble. an EVO sells for about

    i wonder if the people complaining also sell their own cars rather than trading them in?

    • fr3d0

      woops… premature posting…

      an evo sells for about $300 – $350 used plus fees. the 6 mos buy back on an evo (if it was available when it came out) would be $300 if you bought in july (BB retail is $599 and this is the basis for the BB price). it will be $240 when the sprint premier customer is eligible for their one year upgrade. i can pretty much guarantee an EVO won’t bring much more than $240 (i bet less) in July 2011.

blog comments powered by Disqus