How to get the most money quick when you sell your iPhone in 2018
Online buyback stores are the best places to sell used iPhones, according to a new Flipsy.com report that compares iPhone selling options for a variety of metrics.
Key findings include:
- Online buyback stores offer the best balance of price, convenience, payout times and trust, requiring minimal effort to receive a high price for used iPhones
- iPhone values depreciate at a rate of 35% over one year, 50% over two years and 73% over three years
- iPhone depreciation accelerates once a new flagship is launched, underscoring the importance of price locks in the wake of the iPhone XR, XS and XS Max release
Flipsy.com studied iPhone selling options to compare total payout, payout type (cash or credit), time to sell, time to receive payout, guaranteed sales, shipping policies, convenience and trust. Grades were assigned based on the results of the study, as follows:
- Online buyback stores: A
- Local buyback stores: B
- Online marketplaces: B
- Carriers: C
- Kiosks: C
“Once you consider all the factors that go into selling a used iPhone, it’s clear that online buyback stores offer the best balance for people who want more money and fast cash,” said Flipsy.com Chief Technology Officer Morgan MacArthur. “Carriers and kiosks pay less, and through online marketplaces might pay a little more, they take a lot of work to eek out what might amount to an extra $20 or $50. These devices are worth hundreds of dollars, and most people prefer a quick, easy and guaranteed sale. They can get that from online buyback stores.”
Flipsy.com offers free tools to help people get more money for their iPhones, including:
- Instant buyback offer comparisons from Trust Verified Stores
- An iPhone blue book
- Extended 45-day price locks (through Oct. 31, 2018): lock in a high price today, then wait up to 45 days to sell
