One of the easiest ways to pay for the iPhone 5 is to sell the iPhone 4 or iPhone 4S to a trade in service like Gazelle, NextWorth and others for a fast payment without meeting a stranger in the McDonald’s parking lot.
The iPhone 4 and iPhone 4S trade in prices remain steady over the past week, but are down as much as $60 since August 10th, and we expect prices to drop significantly when the new iPhone is announced at special event tomorrow.
Anthony Scarsella, Chief Gadget Officer at Gazelle.com tells GottaBeMobile that, iPhone trade in prices are, “definitely going to drop”, after the announcement. Scarsella recommends locking in an iPhone trade in price today before the drop starts. The chart below shows the predicted price drop for iPhone 4S trade in value after the iPhone 5 announcement.
In the past 30 days Gazelle served up 1.2 million iPhone price offers, five times more than the 30-day period ahead of the iPhone 4S announcement. Gazelle also reports a 600% increase in iPhone trade ins accepted compared to 30 days before the iPhone 4S.
iPhones aren’t the only item users are trading in ahead of the iPhone 5 announcement. Scarsella tells us that BlackBerry trades are up 30% over last week with the BlackBerry Torch 9800 up 100% in that same timeframe.
The following deals will change tomorrow after the announcement, and likely drop another 10% or more by the September 21st iPhone 5 release date.
All deals offer the ability to lock in a price for 7 or more days, with Gazelle and NextWorth offering lock in protection well after the iPhone 5 release date.
iPhone 4S and iPhone 4 Trade in Prices
The following prices show the trade in price for the base model and the highest capacity model on AT&T at the trade in sites. The Verizon and Sprint iPhones typically receive a slightly smaller trade in value.
Gazelle – Up to $400
The best deal for users that want fast cash for an old iPhone.
- iPhone 4 Flawless - $149 to $160
- iPhone 4 Good - $134 to $146
- iPhone 4S Flawless - $305 to $400
- iPhone 4S Good - $277 to $290
Amazon – Up to $500
The best deal for users that spend a lot of money on Amazon, especially Amazon Prime members.
- iPhone 4 Flawless - $230 to $290
- iPhone 4 Good - $195 to $246
- iPhone 4S Flawless - $405 to $500
- iPhone 4S Good - $344 to $425
NextWorth – Up to $295
- iPhone 4 - $136 to $162
- iPhone 4S - $278 to $295
eBay Instant – Up to $400
The best bet for eBay fans who don’t want to risk the price dropping dramatically after the announcement.
- iPhone 4 - $163 to $308
- iPhone 4S - $294 to $400
Glyde – Up To $403
The best choice for users who are ok with a more traditional selling route.
- iPhone 4 Speed Sale - $141 to $165
- iPhone 4 Regular Sale - $214 to $248
- iPhone 4S Speed Sale - $255 to $313
- iPhone 4S Regular Sale - $34 to $403
Apple – Up To $345
Apple’s offer is OK, but users can’t trade in at the local store, and they won’t likely receive the gift card before the iPhone 5 release date.
- iPhone 4 Flawless - $155 to $185
- iPhone 4 Good - $105 to $135
- iPhone 4S Flawless - $285 to $345
- iPhone 4S Good - $235 to $295
The iPhone 4S and iPhone 4 offer the most value, but users can still trade in the iPhone 3GS for up to $78 in cash or up to $145 in Amazon credit. iPhone 3GS owners might see a better return selling on Craigslist or to a friend.
How iPhone Trade Ins Work
Unlike selling the iPhone on Craigslist or eBay, trading in the iPhone 4 or iPhone 4S to one of these companies is a quick and painless process. All of these companies will provide a shipping label and or box to send the iPhone in.
Once you have the iPhone 5, you box up the iPhone 4 or iPhone 4S and send it off. After about 7 to 10 business days you should receive confirmation of the condition and payment will start. For PayPal payments receipt is almost instant, in other cases the check will be mailed to you.
The video below explains the iPhone selling and trade in process.
Amazon offers the highest price and is definitely worth considering for anyone who uses Amazon on a regular basis. The short lock in means users will be cutting it close as Amazon requires the item to be postmarked within 7 days of making the trade. Users who lock in iPhone trade in prices on Amazon will need to send the iPhone in before the iPhone 5 release date.