Trading your iPhone at the Apple store when buying a new one is going on for quite some time now. When purchasing a new iPhone online, you just have to select the iPhone you want to trade in, answer the question of whether the iPhone is in good condition or not, and Apple estimates the value of your current iPhone. Then, Apple shows you the price you have to pay after deducting the estimated value of the iPhone you’re trading in. Nothing new under the sun here. But the question that remains is Should you trade your iPhone in or should you just sell it on marketplace?
And does Apple profit from the iPhone you’ve traded in, or do they do it just for environmental reasons? Well before we answer these questions, let’s look at the whole process from the moment you trade your iPhone up until the moment it’s back in the market.
Is Apple the only company that accepts your old iPhone for a trade-in?
Let’s start by declaring that the iPhone trade-in program isn’t held by Apple only. Yes, Apple has its own trade-in program, but other phone makers, such as the U.S. Mobile Phones (USMP), and cellular carriers, are eager to receive your old iPhone as well. After all, they have the knowledge and tools to replace the components that aren’t working so well and breathe new life into your old iPhone.
These companies, who are responsible for refurbishing your old iPhone, make also sure to clean the iPhone from in and out, if needed delete old data that’s still on the iPhone with special software, and if any parts are loose they also make sure to secure them in their place.
After these initial steps, the iPhones are then sent to another department where the iPhones get a grade. This way they how much an iPhone is worth in the marketplace and what price tag they can put on it.
Eventually, they place the iPhone back in the box and seal it as if it’s a new iPhone.
Some of these iPhones are then sold to wholesalers and others are sold to individuals on (web)shops such as Amazon.com, Swappie.com (a company that operates mostly in Europe), and Backmarket.com.
This is how much your iPhone trade is worth
Okay, let me cut right to the chase. How to know how much your old iPhone is worth for a trade-in? Well, that depends on a few factors. The most important one is the model of the iPhone you want to trade in. So is the value of an iPhone 13 Pro Max way higher than one of an iPhone 6s.
It is possible that some trad-in programs will not accept your old iPhone. Apple for example accepts models up to the iPhone 6s. An iPhone older than this one, such as the iPhone 6, will not be accepted. This may vary from company to company though.
But phone companies look at more details to determine how much your iPhone is worth. The very first thing I do when receiving a secondhand iPhone is to look at whether the cameras are working or not. And since the new iPhone models have at least three cameras (one at the front, and two or three at the back), I place my finger on each of these cameras and test them individually.
I also check the battery health of the iPhone. I check whether the Mic and speakers work well, and whether its display is replaced or not. This last one can be tricky, but I’ve made a video about this whole topic. Check it out.
Should you trade your iPhone in or should you sell it on a marketplace?
After knowing what happens to iPhones that are traded in, let’s see whether it’s better for you to trade your iPhone in or to sell it on a marketplace. While it’s convenient to trade your old iPhone in, selling it on a marketplace can be more profitable. In the past, I’ve purchased and sold a lot of second-hand iPhones and I can tell you with confidence that selling it on a marketplace will leave you with more money in your pocket.
But don’t take my word for it. Let’s take a closer look at what you’re left with when selling your iPhone on a marketplace versus trade in it at let’s say Apple.
Let’s say you have an iPhone 13 Pro Max. The iPhone is in good condition, it’s unlocked, it has 256GB of internal storage, and all its components are working well.
But where should you sell your used iPhone?
So you’ve decided to sell your used iPhone on a marketplace before (or maybe after) buying a new one. Good choice. But the question that remains is where should sell your iPhone?
Well, there are several places where you can do so. Here is a list of online marketplaces where you can sell your iPhone without even seeing the buyer.
Some of these Marketplaces are only available to citizens of the US. Also, some of these marketplaces take a cut out of the final price. eBay for example, takes 12.9% plus $0.30 out of the final price you’ve agreed with the seller.
- Facebook Marketplace
How to know how much your iPhone is worth when selling it second-hand?
To determine the value of your iPhone when selling it second-hand, there are several factors to consider:
The first one is your iPhone’s Model and specifications: The value of your iPhone will depend on its model, storage capacity, and whether it’s unlocked or carrier-locked.
But buyers look obviously also to its Condition. The condition of your iPhone is a significant factor in determining its value. If it’s in excellent condition with no scratches or dents, it’ll fetch a higher price than if it has visible wear and tear.
The age of your iPhone is also a factor that comes into play/ The older the iPhone, the less it’s worth. Apple releases new iPhone models every year, and older models become less valuable as a result.
And finaly wehter there is a market demand for it or not. The market demand for a specific iPhone model also affects its value. If the model you’re selling is in high demand, you can expect a better price.
To get an estimate of how much your iPhone is worth, you can check online marketplaces such as eBay, Gazelle, or Swappa to see how much similar models are selling for. Additionally, you can check the trade-in values offered by Apple, carriers, and third-party resellers.
It’s important to note that the actual price you get for your iPhone will depend on the condition and market demand in your area.