September 10 is the day Apple has set aside to launch the “new thing.” The only problem is the you still have the old thing. Of course, if that old thing were cash, life would be simpler as you consider spending some of your hard-earned money on Apple’s new thing.
So what’s the best way to generate some cash for your phone? Let’s look at a couple of options. I am going to be using a 16 GB AT& T iPhone 4s as our comparator in these cases.
A functional AT&T 16 gig iPhone4S in good condition is netting somewhere between $295 and $335 on Ebay right now. If you are already active on Ebay, have some good feedback and a little patience this is probably the most profitable way to sell an iPhone. If you have not dealt with Ebay before or you don’t want to hassle with it there are some other options.
Glyde is sort of Ebay light that specializes in electronics. They will not directly buy your phone but rather they match buyers and sellers through their marketplace. They manage the transaction and they send you a shipping box to pack your phone in and they estimate your phone will net you $216.
Monster had the highest quote that I found at $220 and they will hold your quote price for 21 days. They will supply the packaging if requested and will pay for the shipping. They will send you a check or PayPal for your phone.
Technollo had the second highest quote that I found for a buyout site at $215. They will supply the packaging if requested and will pay for the shipping. They will send you a check or PayPal for your phone.
Apple has its own program for trade-ins. A couple of drop menus and and they will start the process and send you a shipping envelope to send it back. Apple’s offer came in at $206 but the compay will only issue an Apple gift certificate.
Gazelle will give you $200 for that same 16 gig iPhone, but they have a very interesting twist. You can lock in a price today, but not deliver the phone to them until October 15, by which time they estimate you can have the new shiny iPhone in your hot little hands. This lets you have your phone and upgrade it, too. Gazelle will send you a check or do an electronic funds transfer.
Guzu is another electronics purchase site that will allow you to lock in a price and hold it for 30 days. They are currently quoting $200 for our example iPhone 4s. They will supply the packaging and will pay for the shipping. They will send you a check, gift certificate or PayPal. They will also plant a tree if you are looking for a really green trade-in option.
NextWorth is another electronics purchase site that will allow you to lock in a price and hold it for 30 days. They are currently quoting $197 for our example iPhone 4s. They will supply the packaging if requested and will pay for the shipping. They will send you a check, gift certificate or pay via PayPal.
Sell your cell had the lowest offer at $195. They will supply the packaging if requested and will pay for the shipping. They will send you a check.
Best Buy will take a range of phones at participating locations as a trade in on a new purchase. They are currently valuing the iPhone 4S at $220 but they will only issue this as a gift certificate for a purchase at Best Buy and you do have to go into the store to do so.
While Gamestop’s buy back value is not that high ($179 on our example phone) they will tender you $224 for in store credit. Of course you would have to be looking to upgrade your iPhone to a new Xbox One for that to make sense.
WalMart has their own buy back program, but they are launching a program based on you upgrading in store for a new 2 year agreement with your carrier or setting up on their prepaid program that starts on September 21st. Their current offer for our example phone in good condition is $205. It should be worth shopping their bonus as they typically are including an additional $50 gift card on offers like this.
Keep in mind all of these sites reserve the option to disagree with you about the condition of your phone and they will lower the offer if it is not up to their standards.
If you choose to use one of these options to turn an older iPhone into cash to assist your purchase of a new one you want to erase everything that is on your phone.
Doing so is simple:
- Launch “Settings” and tap on “General”
- Scroll to the bottom of General and tap on “Reset”
- Tap on “Erase All Content and Settings”
- Enter the iPhone passcode if one is set, and confirm the reset by tapping on “Erase iPhone”
- Then make sure to remove the SIM from your phone before you box it up and send it away.
Of course, the other thing to think about is the fact that a brand new iPhone means there are some previously loved ones on the market. The previous version will be a very good deal and do nearly everything we need it to do … for a lot less!