That old smartphone sitting in your junk drawer may be worth some extra cash. But how much money can you really get for it? CNET found that 29% of US adults keep their old devices at home, while 24% trade them in. And even worse, 22% throw their devices in the trash — which is almost like throwing away free money.
The trade-in value for personal devices can change daily, and even by season or whether there are new models on the horizon. So if you have an old iPad or Apple Watch and you’re considering upgrading, it’s best to act fast for the best deal. You just need a game plan to get started.
There are some selling tips that can help you maximize your device’s trade-in value, regardless of when and where you sell it. Some factors, such as wear and tear, functionality, color, battery health and model, determine how much your device is worth. The better the phone’s condition, the more you may get back during a trade. But there’s more to trading in your device than the basics. Here’s what you need to know to get top dollar for your old devices.
Time out your trade-in
Knowing when to sell your device is most important. Trading in your device early rather than leaving it in a drawer for months can boost your trade-in value. While there may be downsides to waiting too long, you may get more money if you sell at certain times.
Consider trading in your device when a new model is about to be released. During this time, consumers may be comparing new and used devices. For example, if you’re selling your iPhone, you may wait until September when new iPhones have been revealed. The holidays are another peak season for those planning to buy devices, which could mean people are willing to pay slightly more for used devices that are cheaper than new ones.
Compare trade-in sites
Your cellphone provider might be offering a trade-in deal, but that doesn’t mean that’s the only place you can sell your device. Consider other retailers or refurbished sites, like Swappa or Back Market.
Swappa gives you two options. You can sell your device to a Swappa partner online for less work and for a set price based on the condition. Swappa’s other option lets you list and price your device yourself, but keep in mind, you’ll see other listings just like yours. That could mean a risk of selling at a lower price if you want to sell sooner. There are similar sites to compare and list your device, including Gizmogo, eBay Refurbished Program and Its Worth More.
You should compare offers from your cellphone provider and retailers, like Amazon, Apple, Target and Best Buy. However, you may receive a credit or gift card instead of cash.
Be honest about your device’s trade-in value
Before you get excited about the hundreds you could get back from selling your old device, research its value by checking refurbished sites to see how much it’s worth based on its condition. Inspect it for any dings, dents, scratches and functional issues to ensure it’s working properly and that you’re being fair about its condition.
Popular brands and models may yield a higher return than less common ones. And the newer the model, the more money you may get back. For example, the iPhone 14 Pro (128 GB) in good condition resells for $390 on Back Market, whereas the iPhone 12 costs $217 for the same condition and storage. Keep in mind that the newer the model, the more money you may get back.
Some devices may be too old to trade in for cash, so recycling or donating them may be the best option.
Carefully consider secondhand sites
If you feel comfortable, you may consider selling on secondhand shopping websites, like Facebook Marketplace or OfferUp. You may be able to sell your device locally and negotiate the price to make more money — especially if you include accessories and chargers. But keep in mind online safety selling tips, such as meeting in a safe place and keeping transaction details on the selling platform. Make sure you verify the buyer’s information to avoid scams.
Take these steps before selling your personal tech
Before you get rid of your unwanted devices, make sure you’re protecting your personal data.
- Back up all of your files and personal information to cloud storage or an external hard drive.
- Try removing your SIM or SID card.
- Restore your device to its original condition by performing a factory reset to wipe all data.
