If you’re buying the iPhone X and have an old iPhone to sell, it stands to reason you want to get the best deal possible. There are plenty of iPhone selling options, and each has its own pros and cons. They key to getting a great deal lies in understanding those differences. The good news is we’ve already done the legwork for you so you can make an educated decision about selling your iPhone – as you’ll see, it literally pays to compare your iPhone selling options.
Carriers like Verizon, AT&T, Sprint, and T-Mobile all offer iPhone trade-in programs. Carriers offer convenience, and they’re currently offering discounts for qualified iPhone trade-ins. However, payouts are in credit, not cash, typically applied as bill credit (though AT&T offers instant credit or a store promotion card).
There’s no guarantee your carrier will buy your phone, but if you have any of the last few generations of iPhones in good working and cosmetic condition they probably will. It’s worth noting that carriers to tend to pay around 30 percent less than dedicated trade-in/buyback companies, primarily because their programs are managed by third-party companies that need to take their cuts out of the sale.
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Local retailers and cell phone repair shops
Independent local retailers and cell phone repair shops often have iPhone trade-in programs. Because they’re local, you can get same-day cash payment for your old iPhone.
Some local retailers will pay more than carriers, though they still tend to pay less than the private market and trade-in/buyback companies. There’s no guarantee of sale, either, but if you do sell your iPhone you won’t need to wait for shipping to get paid.
You can use Flipsy.com to find local iPhone buyers that pay in cash or credit.
Online stores like Best Buy and the Apple Store offer store credit for used iPhones. Sales are guaranteed, though you’ll need to wait for shipping to get paid. Like carriers, online retailer programs are typically managed by third-party companies, so they tend to pay less than the private market and dedicated trade-in/buyback companies.
Local pawn shops
Local pawn shops are good options if you’re desperate for fast cash, but they tend to pay less than any other option. There are no shipping delays, however; and though there is no guarantee of sale, you can put cash in your pocket today by selling to local pawn shops.
Local kiosks (ecoATM)
Kiosks like ecoATM likewise offer instant cash payments and no shipping delays; however, they tend to pay less than any option except pawn shops. Some might find kiosks a convenient option, but the process can take 10 minutes or more because live operators must verify your identity before completing your transaction.
Peer-to-peer selling platforms like Craigslist, Ebay, Facebook Marketplace, and apps like LetGo and OfferUp make it relatively easy to sell your old iPhone directly to end users. The private market pays more than other options and it pays in cash.
Even though the private market pays the most, there are some potential drawbacks including no guarantee of sale, shipping delays, and hassles like no-shows and scams. Another scenario is the Ebay buyer who claims your phone didn’t arrive in the condition described, in which case Ebay would likely side with the buyer and cause customer support issues or a return.
If you want to sell via the private market, make sure you’re getting a good deal by checking iPhone blue book values on Flipsy.com.
Dedicated trade-in/buyback companies
Dedicated trade-in and buyback companies pay more than any option except the private market. Cash payments are available, and sales are guaranteed. Though you must wait for shipping, sales are conducted quickly and payments are typically delivered within a few business days.
Trade-in companies also offer price locks, which let you lock in your price now but wait up to 30 days to sell your iPhone. This can be important as values for old iPhone models drop 15 to 25 percent in the weeks surrounding a new flagship release.
You can instantly compare real-time iPhone trade-in/buyback offers from the top-paying online stores on Flipsy.com, which also displays price lock information and historical pricing data for each iPhone model.
Article by Brian Morris