Update: In the year since we posted this, we’ve decided to seek out the best partner and do the trade ins ourselves. After doing a lot of research, we’ve decided to work with Myphonesunlimited who consistently offer the best prices for iPhones, iPads and other Apple, Windows and Android devices. Go check them out.

 

Apple releases new iPhones every fall, guaranteeing that a massive number of old iPhones will be traded in or sold. The rush will dramatically change the market for used iPhones, so I wanted to help you stay ahead of the curve and get the best deal possible. Having just sold my own iPhone 6 Plus to upgrade to a newer model, I have some strong opinions about your smartest options.

Below, I’ve put together a guide to some of the iPhone selling and trade-in options you should consider. There’s no single “right” answer, since some options trade greater convenience for lower prices, and others have higher prices but greater risks or hassles. You can choose the one that’s best for your needs, but whatever you do, make your choice before iPhone values begin to fall…

If I was choosing between Gazelle and NextWorth, I’d be more likely to go with Gazelle. In one price check, NextWorth offered a meager $355 for the same iPhone 6 Plus that Gazelle offered $480 to purchase. For another scenario, selling an iPhone 6 to upgrade to a 6 Plus, NextWorth offered only $345 versus Gazelle’s $425. And when checking a fully-loaded, unlocked iPhone 5s, NextWorth offered the same amount ($185.00) as Gazelle. The difference is that Gazelle pays a premium for iPhones in great condition, and always takes the higher value of unlocked phones into account for pricing, which NextWorth doesn’t always do.

Higher Prices, More Hassles: Selling Your Phone With eBay or Craigslist

On the surface, eBay selling prices for iPhones look excellent: you may see Buy It Now prices for Completed Items that are $100 or $200 higher than Gazelle’s or NextWorth’s trade-in offers. But those numbers mask a collection of hidden costs: eBay will take 10% of your final selling price, plus an additional 4% PayPal fee, and then PayPal will hold the funds until days after your buyer receives your phone. This is the price you pay for guaranteed safe transactions between two strangers. If your iPhone sells for $600, you can expect to pocket $516 after eBay and PayPal fees, and get paid around 10 days after you sell the phone. Packaging materials, insurance and signature confirmation will cost you another $10 or so, bringing your price down to $506. Meanwhile, Gazelle’s trade-in value for the same phone may be $450 to $470.

Craigslist is the option for people who are willing to take on additional risk — and deal with a smaller audience — to avoid eBay’s fees. You still have to compose an ad, but there are fewer fields to fill out, and the listings are much simpler. Moreover, unlike eBay, which is an international marketplace, Craigslist’s ads are locally focused: they’re primarily seen by (plenty of) people who live relatively close to you. Where eBay has structure, including formalized “best offer” negotiating software and a payment processing system, Craigslist leaves you to haggle on price with potential buyers via email, then meet up in person — preferably following Craiglist’s anti-scam rules — to exchange cash for your phone.

I’ve had mixed experiences with Craiglist, but overall, they’ve been positive. You probably won’t get as high a price for your iPhone as on eBay, and you’ll need to protect yourself against getting scammed during the payment process, but if the deal works out, you can pocket more than selling the same item on eBay. If you live in a place where Craigslist scams or crime in general are well-documented, I’d strongly suggest going with eBay or a trade-in option instead.

Low Prices, High Convenience: Selling Your iPhone to Apple, Best Buy, or Target

If price isn’t as important to you as convenience, there are other options that pay out relatively little but make the trade-in process as easy as showing up at a store.

Apple uses a company called Brightstar to offer Apple Store gift cards under a trade-in program called “iPhone Recycle.” When I checked prices today, Brightstar wasn’t buying iPhone 6 or 6 Plus models, and only offered $165 for the same fully-loaded, unlocked iPhone 5s that Gazelle and NextWorth would pay $185 to purchase — not a great price. But Brightstar was willing to pay a little more than Gazelle ($20 versus $12) for a really old iPhone 4, and only $2 less than NextWorth for the same phone. At prices that low, you’re probably best off just keeping the phone for a rainy day, or giving it away to a family member. If you really want the Apple Store gift card, though, it’s an option, and you can just walk into the Apple Store and trade your phone in right there.

Best Buy’s trade-in values are somewhat lower than Gazelle’s, but with the convenience of being able to walk right into a nearby retail store and get a electronic gift card on the spot for your iPhone. During my research, the iPhone 6 Plus came up at $385, the iPhone 6 at $365, and the iPhone 5s at $165. If you don’t mind getting paid in Best Buy store credit rather than cash, you’ll get a bit more credit than NextWorth would offer.

Target uses NextWorth’s services for trade-ins, with two caveats: Target’s trade-in prices may vary between NextWorth’s online quotes, and you get paid in Target gift cards. In my checks, you’ll get less going through Target than NextWorth, which is especially unfortunate since you’re getting store credit instead of cash. For instance, an iPhone 5s that fetched $185 at NextWorth was offered only $150 via Target. But again, you may prefer the convenience of just walking into a store and walking out with money to spend.

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