Apple will unveil the iPhone 5S at its September 10th media event, and in this post we tell you the best places to sell or trade-in your used iPhone, so that you can use the extra cash towards your new iPhone 5S purchase.
NextWorth and Gazelle are the two most popular websites that exclusively deal with purchasing used gadgets. Although the two sites might not offer you the best resale price, they offer you a lot of convenience by letting you ship your iPhone for free and as an added advantage they even erase all personal data from the device. Another benefit of their trade-in program is that they let you lock-in your price 30 days in advance, so you don’t have to part with your iPhone right away.
You can get up to $320 for your 16GB iPhone 5 from these websites, with higher end models fetching even more.
Amazon offers great resale value for your used iPhones, the catch being that you’d be paid in Amazon.com gift cards rather than cash. You can get $375 in Amazon credits for your 16GB iPhone 5, and up to $307 for your 16GB iPhone 4S.
You can sell your phone directly to buyers on eBay, but you’ll have to make sure it’s in a good condition to convince the buyer to pay a good price. This means that it’s desirable to have the box and the accompanying accessories along with the device itself. A used iPhone 5 can fetch around $350 – $400 on eBay while a used iPhone 4S can fetch anywhere between $200 to $300.
Apple made a late entry to the trade-in market, with its Reuse and Recycle program, where the company discounts the purchase of a new iPhone when a customer trades-in an old one. The program is available only in Apple Stores in the U.S. and a 16GB iPhone 5 will fetch a lowly $250-$253 value.
The chart below compares the trade-in prices being offered by these companies, assuming that your iPhone is in a good state with its accessories intact. Note that the prices listed are for the black AT&T variant. Prices for other models with same capacity might vary.
Do you plan to upgrade to the iPhone 5S? If so, do you plan to lock-in the price for your iPhone now or do you plan to wait for Apple to launch the new iPhone before making that decision?