How To Determine The Value Of A Used Refrigerator

If you're in the process of redoing your kitchen, a new refrigerator will likely be at the top of your list. Whether you want a new size, a more modern model or simply a new look to fit in with your updated kitchen aesthetic, replacing your old refrigerator can truly make a kitchen renovation. But there's often one question hanging over the refrigerator replacement issue — what's the value of your used fridge?

While it can seem as though there's no reason to save your old refrigerator, there's a good chance it still holds some value. On top of this, saving an older fridge from a landfill has obvious positive environmental impacts. Trying to sell your old refrigerator can be tricky, though, and determining the value of a used refrigerator is the first place to start.

According to UK White Goods, age is a large determining factor in terms of used refrigerator value. The depreciation of a fridge's value changes depending on how many years you've had it. A rule of thumb is that in the first year, the value halves, then it goes down by an additional 10 percent of its original price every following year.

Area Appliance Repair offers a slightly different calculation in terms of used fridge value. They claim you should determine the average lifespan of your appliance, then divide the initial cost by this number. You can then work out exactly how much your fridge is worth per year of its life. This number can be multiplied by the age of the refrigerator to determine its worth based on how long it has been used.

Some claim that simply working out the age of the refrigerator does not do enough to accurately work out its value. It's also important to consider the desirability of the model. Some fridges never go out of style, while others quickly become less popular in the kitchen appliance market.

Claims Page uses the desirability factor in its depreciation model. Their calculator takes into account the replacement cash value of a refrigerator, which is determined by the value of the fridge as new in the current market. If a certain brand or model of the fridge has dramatically dropped in desirability since your initial purchase, this is absolutely something you should consider when trying to work out its value when used.

Aside from age and model, there are some other factors to consider when pricing an older, used fridge. You need to check the fridge's condition, in particular its coldness, seal and smell. According to Compact Appliance, making sure all of these are as good as new is essential before trying to sell on your fridge. Other aspects, such as an out of fashion color or an inconvenient opening side, can usually be remedied by the next buyer.

If you can't sell your old fridge to a secondhand consumer, though, you could look into selling for parts. Pacific Gas & Electric, for example, will often pay consumers for an old refrigerator, provided it's in working condition. While this method will likely get you significantly less than its secondhand market value, it is still a great way to keep a used refrigerator out of a landfill.