With the pandemic being followed by inflation and a potential recession in the making, people are being far more cash conscious in 2023.
Charity shops, for instance, are seeing a rise in sales, but a drop in donations, especially direct money gifts. People instead are keeping hold of their cash, and even finding ways to make money from their old belongings.
Side gigs and second jobs are the new normal for millions of people in the US and other countries. Up to 45% of Americans reported having a side hustle in 2022, according to Zippia, and these roles vary from drop shipping to Uber eats to online gigs. For instance, eBay saw growth during the pandemic as people looked to make cash out of whatever they could sell.
Yet, many individuals don’t realize that they might possess unused items of value at home that they could sell. We’re talking about gadget, of course.
Who buys old iPhones online?
It isn’t only old, unused iPhones that can be sold online. Used ones are still very desirable and may have more value than comparable devices from other mobile brands.
Apple will willingly accept your old iPhone for either recycling and/or to apply the credit toward a newer model you buy. But there are independent third-party businesses that are motivated to buy Apple iPhones and other brands.
They are known as phone traders, and they tend to concentrate on purchasing well-known brands of mobile devices, and sometimes other electronics too. Using sites like Buyback Boss is just one of the many ways you could sell an iPhone from the comfort of your couch. Let’s discuss all your options in this regard.
How do companies that buy old phones work?
The first thing to acknowledge is that you won’t get the full purchase value back, and you may get a better price elsewhere. But for many, these firms offer convenience.
An online mobile phone buyer will run you through a series of questions to ascertain the brand, model, condition, and age of the phone. Then you will receive an estimated offer. Next, you send in the phone, the company confirms the offer, and you choose to accept or pass. You then either receive payment or your phone back.
What are the other ways to sell old iPhones online?
There are two main reasons why people don’t sell their old iPhones. One is because they are handy for use as backup devices. The owners might have a bunch of contacts, photos, and games that haven’t been transferred yet.
The second reason is that a suitable offer isn’t made. The user feels that their iPhone is worth more than the current valuations offered by some companies who buy pre-used cell phones.
You have other options for selling old iPhones online in this case.
Sell it yourself
Look up companies that buy phones first, and see what offers you get. This will give you some indication of your expected starting price point. Remember, any business buying pre-used phones will be looking for a profit, therefore you have some room to push the price up if selling directly to a buyer.
Seek out reputable selling channels such as Amazon or eBay. You can list your old phone at a set price, and if you’re patient you might get what you asked for it.
Auction the iPhone
This is riskier than listing your device for a fixed price as you might not hit the amount you desire unless you set a reserve price. You might find that you have to relist the iPhone more than once, and even then, it might not sell. Online auction catalogs are full of mobile phones, and scams are rife in this arena. Therefore, you may have problems selling your iPhone if you are a new user with no reputation to back you.
Craigslist and classifieds online
Buyers tend to be very wary of expensive items on classifieds as there are limited ways to clarify if the listings are genuine. But you can definitely try your luck here.
Use Apple Trade-In
As already mentioned above, you can return your used iPhone to Apple in-store or by mail. You might receive credit that can be used to purchase a newer model, or you can ask for an Apple gift card instead.
The only disadvantage here really is that you will not receive actual cash, and you are limited by what you can do with your credit or gift card.
How much is your old iPhone even worth?
This is a worthwhile question as your older model may not be in any demand now, unless it’s unsealed. Companies that buy back phones tend to not to purchase models older than the iPhone 7 or 6.
This means that your iPhone 4S is unlikely to be wanted by a business that buys Apple products. However, a private sale might see you get between $30 and $60, if you are lucky.
Why do iPhones get recycled?
There is value in the components of your iPhone. One of the reasons that companies buy up seemingly useless old phones, and Apple is happy for you to return your phone for recycling, has to do with what lies inside the casing.
Several precious minerals and metals are used in the construction of iPhones, including gold. There are about 0.018 to 0.034 grams of gold in an iPhone. Alongside this, there is a similar amount of silver, a minuscule amount of platinum, and a small amount of palladium.
While these four metals are the most precious in the world, other materials can also be extracted while recycling them. Your iPhone contains aluminum and copper too.
Is your iPhone likely to go up in value or drop if you keep it?
It would be nice to think that if you hung onto your used iPhone, it will rise in value. Some of the older Apple computers have sold for hundreds of thousands at auction.
However, your iPhone isn’t rare, unless you have the Stuart Hughes Diamond Rose. In fact, Apple has shipped over 2 billion iPhones till date.
Why sell your old electronics if they aren’t worth much?
When considering the cost of repairing a broken iPhone, it may make more sense to recycle it. You won’t make money, but you will help the environment to a degree.
Similar reasons make selling old electronics a good idea. Your old phone or Atari console might not be worth much, but if you sell them, you will be doing something helpful for the planet.
It was estimated that over billions of cell phones ended up in landfills in 2022. These phones don’t biodegrade, and the old batteries leach dangerous chemicals into the earth. Even if you don’t make much cash from selling it, at least your phone is either getting some extra usage or being recycled.
You can choose from a number of options when it comes to selling an old iPhone. Select a company that is motivated to buy old cell phones, or try to auction it yourself.
You can use Amazon or eBay to sell the iPhone, or send it in for the Apple Trade-In program. Whatever you do, try to avoid sending it to landfill if possible.