Tuesday, October 4, 2011

Upgrading to iPhone 4S? Advice on Selling Your Old iPhone

Now that iPhone 4S has officially been announced, you’re likely clamoring to get your hands the A5 powered smartphone, but if your iPhone 4 or 3GS is still working perfectly, you might be wondering what to do with it.  If you don’t have a teenager or spouse to pass it down to, your best option is to sell it and here’s how!

First, you need to figure out how much your phone is worth.  PriceAdvice.com can help you with that.  From the homepage, search for your model iPhone.  A listing of current used iPhones for sale will appear along with the average selling price for the model.  Use that price as a barometer for how much you can get for your iPhone.      

From there, you have several options in regards to selling it.  You can sell it online at various websites or trade it in at a much lower price.  Here all the top methods for making some money off your old phone.

Sell via eBay: eBay is undoubtly the largest site for used products with over 276 million registered users worldwide, so by posting on eBay you have the potential to reach a very large audience.  Of course, there are fees associated with selling and they break down as follows:  $0.10-$2.00 insertion fee and then 9% of the final sales price up to $100.  There are additional fees for reserve prices, additional photos and other upgrades.  Note that the fees are different if you opt for a fixed price format listing.

Sell via Amazon: While Amazon is the largest U.S. internet retailer, they don’t generate quite the traffic of eBay for used goods.  However, they offer an easy to list service with no listing fee.  The fees for selling smartphones on Amazon are as follows:  $0.99 fixed closing fee, $0.45-$0.65 + $.05/lb. variable closing fee, and 8% of the sales price.

Sell via Craigslist:  With no listing fees and the ability to post multiple photos, Craigslist is an easy no-cost choice.  Of course, you are limited to selling in your local area only or posting the same ad across each city they service and hope that someone wants to do transactions across the web.  You’ll also need to make time to meet with buyers, so think about how much your time is worth.

Sell via Oodle:  Another site with no listing fees and a large user base, Oodle posts your ad to their marketplace which uploads it to hundreds of other websites like Facebook, Walmart and Twitter, reaching over 20 million people each month.   While you can reach a national audience with Oodle, they do recommend that you deal locally, as they offer no assistance with transactions or payment. 

Sell via Message Boards:  There are tons of tech forums out there that have sections dedicated to those wanting to buy or sell used gadgets.  This is another avenue for sale.  The downsides are that they probably don’t receive the same amount of traffic as eBay, Amazon, Craiglist or Oodle, you’ll need to manage the exchange of goods for money on your own, and you’ll have no protection from scammers.

Trade In:  There are many sites out there that offer trade-in options for your iPhone, however, the amount they offer is usually much lower than what you could get if you sell it yourself.  They set their price offers and there is no negotiating.  If you want to get more money out of your phone, then sell it yourself.

So now that you know how much your old phone is worth and your options for selling it, you can put that money towards the purchase of your new iPhone 4S.

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