Smart Spending

Options for Trading in Your iPhone

Now that the initial rush to purchase the new iPhone 5 has subsided, many people plan to say farewell to their old phone and trade it in for the sixth generation release.  Some iPhone owners sell their device on Craigslist or eBay. However, you now have a growing list of choices for trading in your iPhone and other electronic devices you no longer use.

Online Companies

There are a number of companies online that resell, refurbish and recycle. Totem purchases lots of dated, broken technological devices and reconditioning them, sell them to the segment of the consumer market looking for used products. This includes refurbished iPhones, other smart phone brands, and various technological devices.  Totem’ pays the tab for packaging and stage. It takes around seven days to complete the transaction. Totem offers a guaranteed price quote for your iPhone or other gadget. The company will recycle the device in accordance with acceptable environmental practices.

Another site you may want to look at is List the product on the website without paying an upfront cost. The company charges 12% on the first $100 of the sale amount and 8% on the balance. When your iPhone sells, Glyde sends a pre-addressed, pre-stamped packaging for which you pay anywhere from $1.00 – $3.50 and you mail off the old phone.  Once the buyer receives the item, the company deposits the money in your account. Search the Internet to find more companies like Glyde.

Apple Recycling Program

Trading your  iPhone with the Apple Recycling Program will not net you any cash but an Apple-only gift card instead. The advantage here is that you might obtain a higher resale price compared to selling to other buyers. The disadvantage, you can only redeem the gift at an Apple Online Store or Apple Retail Store

The program also accepts iPads, personal computers, or Macs. Send the item to Apple. Apple contracts with a third-party vendor who examines the item and rate if it can be reused. Apple pays only for devices it can refurbish. If Apple cannot reuse the iPhone, it promises to recycle the item responsibly and for free.

Selling your iPhone on eBay

If you decide to sell your iPhone on eBay, you have two methods: employ the standard, time consuming eBay auction process or use eBay Instant Sale, which is designed to help sellers get top value and save time. You simply go online and describe the condition of the iPhone or other device.  Print off a shipping label and mail the item to eBay.

The company receives the iPhone, evaluates its condition and puts the money in your PayPal account. If it determines the item does not have resale value, it recycles the phone.