It’s almost time for Apple to unveil their much anticipated iPhone 8. The devices is set to be a radical overhaul in both design and features–and it’s rumored to have the price tag to prove it. Sources say the iPhone 8 could cost as much as $1,000. But if you haven’t been saving your pennies yet, there’s still time to get some cash before Apple announces the iPhone 8 next week. That is, of course, by selling your currency iPhone (or Android, for you switchers out there).
Thankfully there’s a number of ways you can get rid of your old smartphone now so you have the cash to splash on the latest and greatest from Cupertino. Below we look at the four best options for you.
Trade-in Sites Including Gazelle and Mazuma
There are a number of trade-in sites that have sprung up in recent years catering to people who want to quickly offload their new iPhone in the most hassle-free way. The two best-known trade-in sites are Gazelle and Mazuma. However, each site operates a bit differently.
At Gazelle’s main selling point is that it’s a relatively hassle-free experience. You tell them what phone you have, its condition, and they give you the price they’ll pay. If you accept the offer you ship them your iPhone, they’ll check it out, then they’ll either cut you a check, pay you via PayPal or via Amazon gift cards. Plus, you can lock in their offer today and not have to ship your phone to them until October 22, which means you can keep using it until you can actually get your hands on that iPhone 8.
Right now Gazelle is offering $375 for an iPhone 7 256GB (Unlocked). They’ll give you $350 for the 128GB model and $315 for the 32GB model. All prices are for phones in “flawless” condition. If you’ve got an iPhone 7 Plus (Unlocked), Gazelle will give you $420 for the 256GB model, $390 for the 128GB, and $350 for the 32GB model (all in “flawless” condition).
If you’re in the U.K. Mazuma will give you the better price for your phone, however. For an unlocked iPhone 7 256GB they’ll give you £380, for the 128GB model you’ll get £350, and for the 32GB model you’ll get £320 (all in “working” condition). If you’ve got an iPhone 7 Plus (Unlocked), Mazuma will give you £460 for the 256GB model, £400 for the 128GB, and £360 for the 32GB model (all in “working” condition). You then mail them your phone and once they receive and check it, they’ll pay you the money by cheque or bank transfer.
If convenience isn’t that important to you, you can get a lot more selling your device through Amazon’s Seller Central. You’ll need to create a free seller account, but then you just list your iPhone for sale and confirm its condition. You set the price you want the buyer to pay. When someone buys your iPhone Amazon will send you an email. You’ll then need to package the phone yourself and take it to the post office to post it.
The main advantage of Amazon is that you can set the price. Amazon will end up taking about 10% in fees, but you still get a much better deal for your iPhone than you’d get trading it in. However there are some drawbacks: first, Amazon holds your funds for 14 days to make sure you actually deliver the iPhone to the buyer. This means if you need the cash quickly, Amazon isn’t the place to sell. Second, Amazon’s seller policies state that the seller is responsible for being able to prove the device was actually delivered to the buyer. For that reason it’s always good to pay extra for signed and tracked delivery–if you don’t–and the buyer says he didn’t receive the phone–Amazon will side with the buyer and you’ll be out your iPhone and the cash.
eBay is the oldie but goldie. Everyone knows how eBay works: people can bid for your iPhone or you can set a buy it now price. These two methods virtually ensure you’ll get a better price for your iPhone on eBay than at a trade in site, but there are some drawbacks too.
On eBay you’ll need to take pictures of your phone and upload them yourself. You’ll also be competing with hundreds if not thousands of other sellers. And just as with Amazon you must package and ensure the iPhone is delivered safely. But there’s one other drawback: when eBay and PayPal fees are taken into account you’ll end up losing almost 15% of your selling price in fees.
For those that don’t want to use a middleman site, Gumtree is the way to go. On Gumtree you just create a classified ad. Unlike trade-in sites and Amazon or eBay Gumtree doesn’t help with the financial transaction at all. You’ll place your ad, someone will respond. Hopefully that someone is honest and not a serial killer who will show up in your agreed meeting place and shimmy you in the throat with broken rebar.
I half-jest, but there are some very unscrupulous buyers and sellers on Gumtree, so it’s always best to proceed with a sale with caution. Most people won’t have problems, but just remember to agree to meet in a very public, well lit place and only accept cash.
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