Now might be a good time to sell that iPhone
With the release of the iPhone 5s and possibly the 5C just around the corner (September 10th), it might be a good time to think about selling that old iPhone. Read on to find out what the best options are for you and who will give you the best deal on that phone.
So, to reach the largest possible sample, I’m going to be using my near and dear black iPhone 5 16GB model that I purchased via At&t during last years release. If like me, you want to sell a similar iPhone, you’ve got plenty of places to do so. I’ve checked out the most popular ones and polled prices as of today, to see what I can get and who will give me the easiest sale for the most money. There are basically three ways to sell your phone off, pre-sale companies like Gazelle, Amazon, or NextWorth are all good examples. Then there are places like Amazon, Glyde, or USell which will set you up with somebody that wants to buy your device. Finally, there’s the old-tried-and-true Craigslist/eBay combination.
I’ve listed each option below, and what they offer for our example Black iPhone 5 16GB model on At&t that has some slight wear on the edges, but a good screen and back. We’re also including box and adapter+cable if asked on any of the sites.
Apple accepts this online and in store, a great and easy sell if you just want to go and get an Apple giftcard to buy that next iPhone or other Apple product.
Lock In Offer: $305
It’s good to note that this is cash that will come to you in a variety of forms (whatever you choose). Paypal, check, or Amazon gift card with some sources like Paypal incurring a transaction fee. This offer is good for up to 30 days after you get your non-binding “quote” so it might be wise to lock this one in early because if you don’t prices might go down. They’ll send you a box the day you make the quote and if you choose to take up their offer you just put your device in the box and drop it off at a shipping location.
Amazon.com Gift Card: $328.25
Amazon requires you to mail in the item yourself, but they pay for the shipping. It’s important to note that the offer is redeemed in the form of an Amazon.com gift card rather than a Paypal payment or check. There’s also no way to lock in this deal.
If you choose to go the sell used route, you can most likely get around $399-$415, but remember that Amazon will take it’s cut which can sometimes be hefty.
With Glyde you can choose your price with a slider. At the current time, “Market Price” is $368.00 but Glyde takes it’s own cut; in this case a transaction fee of $33.40 and a mailer cost of $3. If somebody buys your device for the price you listed, you put it in the mailer and send it out. You can find out more about their fees here. The payment process is interesting: “Once an item is delivered, the buyer has a two-day period in which to evaluate and accept the item. If there are no issues with the item, your proceeds will be deposited into your Glyde account. The deposit will appear in your Glyde account 2-3 days after delivery”. You can get this money directly into your bank account or with a check for a $2 fee.
NextWorth has a unique system because like Gazelle, it offers a 30 day lock-in price guarantee. On top of that, however, they also allow you to take your device to participating Target stores. They pay in the form of Paypal, check, or Target giftcard.
Usell gives you a list of places that you can sell your phone and for how much. The issue with this site is that they drag you to another, and the rates aren’t that great compared to the other sites I’ve listed.
All in all, it’s best to sell your device before the next iPhone comes out if you do indeed plan to sell. Right now is a good time to lock in those offers in places like Gazelle and Nextworth, and still list it in other markets like Amazon’s used market because you don’t have to commit to Gazelle or Nextworth. From the rundown above, Apple seems to be the winner for easiest money. It’s $336, just $4 short of NextWorth and if you’re buying an iPhone from Apple you’d be all set. If you want to squeeze out a little more for your buck, we’d suggest Amazon’s used market. You could sell your iPhone for around $400 and still get close to $370 after Amazon takes it’s cut. Craigslist will vary from region to region so use your judgement, but it’s by far the most risky and you could run into picky buyers that will want to haggle and lower your price down. You’ll most likely end up selling for close to what Amazon’s used market is. No matter which way you choose, here’s to hoping you get a small subsidy towards that next smartphone purchase or other gadget.