What Is An Order Book?
“I tried selling my phone on the secondhand market before. It was stressful and I didn’t get much money in the end, so why bother?”
Great question. By now, you may be aware of the benefit of trading in or selling your old mobile phone before you upgrade. Benefits include:
- Extra cash for you
- Less clutter in your house
- Helping the environment, by reducing e-waste in landfill
- Get money towards your next upgrade
You can do this (and probably have done this) in various ways. Including:
- Online p2p marketplaces like facebook or eBay
- Online refurbished retailers like Mazuma mobile
- Direct with the manufacturer or mobile provider when you upgrade
- High street exchange stores like CeX
The problem is, each channel seems to come with a catch. Selling to a person might make you more cash, but you need to navigate the terms of the sale, arrange shipping, get paid, and do all the comms stuff yourself. Selling or giving back to a retailer or manufacturer may be the easier option, but you’re beaten down on price and left wondering if you’ve been ripped off.
This is true for many marketplaces which are actually run to help businesses buy phones at the lowest possible cost, to sell back elsewhere at inflated prices.
We know it can be different...
That’s where Doji comes in.
We believe selling should be easy and you should get a fair deal for doing it. That’s why we give you all the benefits of selling to a retailer - by handling comms, organising the sale, verifying and guaranteeing the device - while making sure you get a fair deal on price by offering you real time market data.
And if price is a big factor for you, we do one better. Giving you total control via our online auction system which works like bidding on the stock market.
To help you navigate this function, here’s a breakdown of the most important bit - accessed via “Sell on Doji”.
What is an order book?
The Doji order book is an electronic list of buy and sell orders for the model you’ve selected, organised by price. It lists the number of units that others are bidding on or offering to sell at each price point.
That means you get to see it all - in real time. No secrets, no surprises.
How to use the Doji order book
On our platform there is pricing transparency and the order books on the product pages will show you all the relevant sales information - labelled ‘bids’ for buyers and ‘asks’ for sellers.
So, for a smooth transaction at the best possible price, the first place to look is doji.co.uk
How bids work on Doji
If you place a bid, this is the maximum price you’ve agreed to pay. It’s not necessarily the price you will pay (this system will be familiar if you’ve used the ‘auction’ feature on eBay). If someone’s selling at a price below your bid price and your offer is top of the list of bids, then you’ll pay that price.
For example - you want an iPhone 11 and you’re prepared to pay up to £500. You set a bid price of £500 which goes into the order book. If your offer is at the top (ranked by how much you’re willing to pay and first come/first serve) and someone is willing to sell at £450, then you’ll be matched and that’s the amount that you’ll pay.
Bargain, am I right? To get started, find your next phone on Doji
How to use this system to sell on Doji
If you set an asking price (an ‘ask’), then this is the lowest price you’ve agreed to sell at.
For example - you have an iPhone 7 to sell and want at least £80 in return. So, you set an ‘ask’ at £80. If someone is prepared to buy the phone for up to £85 and your order is the best match, then these orders would match and your selling price would be £85.
They got the price they wanted, you got even more than you expected. Who doesn’t love a win win? Sell your next phone on Doji.