There are marketplace apps where you can sell your used items such as eBay, which makes it easier for people to sell the stuff they no longer need for an extra buck. TipTop, however, is offering a better way to conduct transactions, particularly for consumer electronics.
TipTop App
The startup was founded by the same person behind Postmates, Bastian Lehmann, which was prompted by his need to clean out his garage. Initially a platform for all sorts of used items, he eventually narrowed it down to just electronics.
According to Lehmann, the idea of just selling consumer electronics was due to the fact that they had a more predictable price decay after a while. While the app is relatively new, it has already tracked 50,000 consumer products to determine appropriate prices depending on how new they are.
The founder stated that they have gotten really good at it, along with the understanding that there are two values when it comes to an item: the price that buyers are willing to pay, and the price that the owner is willing to sell at, as mentioned in Tech Crunch.
TipTop can put a price on the things you own, which it tracks using your email purchase receipt and creates instant cash offers depending on the factors at hand such as the device, model, brand, release date, and more.
When you feel like you don't need the item anymore, you can redeem the instant cash offer, allowing you to get paid in just minutes. All you have to do is link your Gmail account through the app and its AI will do all the processing.
The app will send someone to pick the item up to deliver to the buyer through Uber, or you can choose to drop the item off at a UPS store. TipTop boasts that it only uses top-rated drivers from their delivery partners and that the service is supported nationwide.
If you do use the app, you can rest assured that you will be compensated for the item. Other than the quick payment process, the items you send out are also insured for their full value "the moment it leaves your hand."
A Good App Doesn't Equate to a Good Item
While the app can help make the process of selling or buying used electronics easier, it still can't detect other factors like hidden damages, especially if the seller does not disclose them, so you should still be careful with your purchases.
You should also consider why the seller is parting ways with the device in the first place. They might say that they just need the money, but it could also be because the device is already too old for updates, which will make it useless in a matter of time.
Even if the device looks good at face value, the used unit might've been through several repairs. There are instances when the original components are swapped out with cheaper ones to lessen the cost of the service.
