We all have an old device (usually a mobile phone) that we want to get rid of. We can give it to someone we know or even throw it away. But why not recycle it in a more profitable way?
How much money can you make from a device?
The amount of cash you can get for a phone varies widely depending on the model, age, and condition it's in. Trade-ins typically top out at $300 or $400 for a top-of-the-line device, but a brand-new iPhone X could sell for much more — depending on the amount set by the seller and buyer (on eBay right now, prices range from $800 to over $1,000).
You will get more money if the phone is:
-In good condition
-“New”, approximately 1 to 2 years old
-High quality device
-Popular. iPhone and Samsung phones are in high demand
-With a suitable color (usually black or silver)
-Sold directly to a buyer
You won't be able to trade in phones that are still financed through your carrier.
Some tips that you will find useful:
- Before you start selling, search all your devices
If you are looking to sell an old phone, you might want to look at what other old devices you have, such as phones, cameras, consoles, and laptops. If there is a resale value, the total will increase.
- Decide whether you prefer cash, credit or foreign exchange
Before you start looking at which seller is offering you the best deal, you can narrow down your options. If cash is what you need, your options are limited to direct sales, like GameStop and EcoATM, which has physical kiosks in malls across America. You'll almost always get more money if you sell a phone directly to a buyer through Craigslist or eBay, but it takes longer and there's a higher risk that buyers will change their minds. It also helps to have the original packaging and all the cables that came with it. Prices vary depending on the phone, carrier, and condition.
- Find out how you get paid
Do you want cash, credit, or a gift? In most cases, it's the latter two. Best Buy and Apple will give you gift certificates to use at their retail stores. Carriers will deduct the transaction value from your next phone. EcoATM and selling directly to buyers will give you cash directly (though EcoATM will likely give you less money).
If you choose an online seller, you will have to wait a few weeks to get paid. After you pack the goods and ship them, the employees will check their condition before handing them over.
- Read the small print
You have to be careful when you start making a sale and see what's available each time. For example, Apple's phone trade-ins only apply to iPhone 5 and up, so if you have an older model, it won't sell.
You should also make sure you have reset the phone according to the seller's instructions, usually a factory reset, without a screen lock of any kind.
And make sure you already have another device when you hand over the phone you're trying to sell. Once you hand it over, you won't be able to get it back if something goes wrong.
- Never throw away old phones
Get rid of them by all means, but never by throwing them in the trash. You can recycle them and do good for the planet.
