What the Tech? Trading in Old Phones
(ABC 6 News) -A few years ago you paid hundreds of dollars on a new smartphone. That shiny iPhone or
Android device cost you $800 or more back then.
Just like an automobile, the value of a phone or other electronic device drops significantly the
moment you take it out of the store.
If you’re thinking about trading in your old phone for a new one, here’s what you need to know to
get the most value for a perfectly fine but old smartphone.
Carriers and manufacturers like Apple offer trade-in credits, but these aren’t always the best
deals. Let’s explore some alternative options to maximize your returns.
Carrier Trade-Ins: Not Always the Best Deal
Carrier trade-in deals can be tempting, but they might not put the most cash in your pocket. For
example, if you spent $800 on a phone a few years ago, you’d want to recoup as much of that
investment as possible. An iPhone 12 that costs $800 in 2020 is still worth $180 if you trade it in
for a new iPhone 16 at Apple.
Cash Offers from Reputable Companies
Several companies specialize in buying used devices for cash. Gazelle, a well-established
player, offers competitive prices and offered $129 for the iPhone 12. SellCell acts as a broker,
connecting you with buyers willing to pay top dollar. The same iPhone 12 could be traded in with
one of the companies on SellCell for $160 which is the best deal I found paying cash.
Broken Phones Still Have Value
Don’t despair if your phone is damaged. Companies like USell will buy broken phones, offering
a reasonable price depending on the extent of the damage. A broken iPhone 12 got an offer for $61.
Kiosks: Convenience at a Cost
Those mall kiosks offering instant cash for your phone might seem convenient, but they often
offer the lowest prices. The same iPhone 12 only brings $85 at the DIY kiosks.
Online Marketplaces: The Best Returns
For the highest potential return, consider selling your phone on Facebook Marketplace or
Craigslist. You’ll have to handle the sale yourself, but you’ll keep the full amount the buyer pays.
When I searched for a 64Gb iPhone 12, I found unlocked phones for sale for $340 on Craigslist
and $300 on Facebook. Note that the ads do not reflect what people are spending on older
phones, just what the owners are listing them for. Your experience may be better or worse.
Tips for Selling Your Device
- Reset to Factory Settings: Always wipe your device before selling it to protect your personal data.
- Meet in a Public Place: If you’re selling online, meet the buyer in a safe, public location. Many police stations have designated spaces in their parking lots for safe online exchanges.
- Check for Stolen Devices: When buying a used device, verify its legitimacy at a carrier store. I’ve been in a carrier’s store multiple times when someone brings in a smartphone they just purchased only to find out that it had been stolen and will not work.
Conclusion
When it’s time to part ways with your old phone, explore all your options to ensure you get the
best possible return on your investment.