SPECIAL REPORT | This report, directly related to technology, was compiled after various practical real life experiences dealing with the company CEX. It is a “warning” for those that may not know.
The company (UK based) CEX has been in business for a relative short period of time and has expanded, unnaturally I might add, to a billion dollar business. This is how they did it and do it.
Often we have gadgets, phones, headphones etc that we want to either exchange or sell. Generally we all pay a high price for the purchase of such so need an “honest” return on our investment.
Here are some real life examples of how CEX makes money.
Example 1) Visiting a CEX store to purchase a WiFi mobile router made for the phone company EE. The purchase was £15, acceptable, its condition as 90% new. Within an hour we visited a local EE store to purchase a SIM data card for the device, only to find that the devise was locked by EE previously. The device was locked by the EE company because the device we purchased from CEX was in fact STOLEN!. We returned the device immediately to CEX.
Example 2) We visited another CEX store, offering over £100 worth (actual cost) of DVD disks, in perfect condition. CEX made an offer of £10!. Of course we refused the offer as it was actually to find out how they devalue technology.
Example 3) A £360 Cellphone in perfect condition was offered to another CEX store. CEX offered £40. Of course we refused for the same reason as in example 3, to find out how far CEX will go to devalue technology.
Example 4) A £180 Beats headphones were offered in another CEX store, the headphone brand new. CEX valued the headphones at £30! Again we refused the offer.
Example 5) We purchase one cellphone (iphone 5S) for £240, go to apple to activate the phone. The phone blocked by Apple. Stolen and reported to the Police. We return the phone to CEX.
These examples above show three things you need to be very aware about.
Selling your gadgets – Expect to be offered less than 10% of the money you paid. You will be better selling it to a friend or online.
Buying your gadgets – Be aware! From our experiences, the company CEX DO NOT check if the gadgets they are selling are stolen or not! And when selling to CEX they DO NOT check the item against any Police databases or other means of checking a serial number to find out if it is “legal”.
Hiding behind a computer – If you complain about an offer they are giving you for your gadget the counter assistent will say “this is what the computer says”, every time! You cannot bargain with them because they base all “legal theft and deception” on a computer telling them how technology is valued. You will not be able, on the spot, to request a second opinion or even have a shop manager make any final decisions on the offer, why? “because the computer tells them how to deal”!
Personally we strongly advise NOT to enter any CEX store, be it for buying or selling. If you have gadgets to sell you have two options. One, keep it for the future (as mentioned in a recent article) and let it gain value over time before selling Or option two. There are many online places you can set a price and get a better deal for selling your gadgets, eBay is the perfect example.
The company CEX appears to have expanded on the not knowing of the public (legal abuse). This article was written as a friendly warning to those “innocent” members of the public thinking about buying or selling gadgets. To attempt to protect them from those operating companies based on “legal theft”.
UPDATE – From The Daily Telegraph – Hackers have broken into the systems of gaming store CEX and stolen the details of two million customers, including personal information and some financial data. CEX, which sells second hand electronics and video games, said it was contacting two million customers of its WeBuy.com online shop who could potentially have been affected by the cyber attack. The information stolen included names, addresses, email addresses and some phone numbers, as well as a small number of encrypted credit card details.