How much is YOUR old iPhone worth? Apple increases trade-in values for some models by up to $80
Apple has increased the trade-in value of certain iPhone models by up to $80.
Some of the top tweaks include the iPhone 12 Pro Max, now worth $480 from $400, and iPhone 13 Pro Max is $650 – up from $570.
Apple hasn’t shared why a boost was added, but higher trade-in values could entice users to upgrade to the latest smartphone.
However, third-party sites will pay more than $100 for your outdated device.
Apple has increased the trade-in value on select iPhones, even as new as the iPhone 13 Pro
Apple’s trade-in program is a way to offset the cost of buying a new iPhone, which the tech giant says is then recycled — but not all models get a second chance at life.
The fine print of the program says that if phones are ‘in good condition,’ they go to a new owner.”
It is not clear what happens to damaged goods.
To trade in devices, users answer a few questions about the make, model, and condition and receive an estimated trade-in value.
“If you accept the trade-in estimate at the store, we’ll give you instant credit toward a purchase or a gift card that you can use at any time,” according to Apple’s website.
If you accept the trade-in estimate online when you buy a new Mac, iPhone, iPad or Apple Watch, we’ll arrange for you to send us your current device.
“As soon as we receive it, we will inspect it and verify its condition.
“If everything is correct, we’ll credit your original method of purchase and send you the remaining balance on an Apple Gift Card via email.”
The value depends on the condition of the iPhone when it is shipped in Apple’s trade-in program. Here is a list of all trade-in values
However, third-party sites will pay more than $100 for your outdated device
Apple’s page also notes that the process takes two to three weeks.
‘Recycling a device is much faster. Once we email you a prepaid shipping label, simply send your device to our recycling partner.
Users can also keep accessories like chargers when they trade in their iPhones.
Apple urges users to backup and wipe data from devices before sending transmission.
There are e-commerce buyers willing to pay more money for your old iPhones, TechRadar reports.
A company called ItsWorthMore is giving up to $696 for an iPhone 13 Pro, while Apple is offering up to $500.
And GadgetGone is tempting consumers with up to $711 for the same smartphone.
Second-hand devices are in demand amid inflation and lackluster new smartphone features.
Data shows 283 million used handsets were sold in the US last year, an 11.5 percent increase from 2021, and the market is expected to be worth $99 billion by 2026.
Sales of new smartphones fell in 2020 amid the onset of the coronavirus pandemic, but ever-increasing prices have kept customers at bay — an iPhone costs at least $100 more today than it did two years ago.
And Apple’s iPhones make up more than 80 percent of this “circular” economy, according to CCS Insight.
The International Data Corporation (IDC) claims that the increase in pre-owned smartphones is due in part to trade-in programs offered by Apple and other major smartphone companies.
To trade in devices, users answer a few questions about the make, model and condition and receive an estimated trade-in value
Smartphone sales began to decline two years ago when electronics manufacturers were forced to shut down due to lockdown restrictions.
China, the only source of iPhones, began lockdowns earlier than the rest of the world and kept them in place longer, slowing Apple’s production.
However, many users have noticed that each new iPhone is usually the same as the previous one.
And instead of spending more money, they stick with their current model or buy a used model to upgrade.
The iPhone 8, released in 2018, costs $599, but the latest device, which launched in September 2022, retails for $799 – and this is for the “affordable model” only.
Smartphones as a whole also seem to be losing their sparkle.
Consumers have had these little computers in their pockets for over a decade, and each year the devices seem no more revolutionary than the last.
A Redditor shared, “I remember about 6-7 years ago when we had the iPhone 4S. The iPhone 5 seemed revolutionary with its new 4′ screen. The following year, the 5S seemed revolutionary with its new Touch ID sensor (the 5C not so much).
Gone are the buttons and bulky bezels of early devices, replaced by technologies like facial recognition that most of us only dreamed about while watching sci-fi movies.
And while the current features are superior, they seem to have reached a stalemate – and many users have said smartphones are “downright boring.”
CCS Insight found that 1.3 billion phones will reach end-of-life for the first time in 2022, many of which will be resold on the second-hand market, ZDENT reports.
Apple is at the forefront of the “circular” economy, which CCS says is because “many phones from other brands have limited value in this industry and are often thrown away or passed on to family members.”