NEW YORK (TheStreet) - Apple (AAPL) has done it again. Crowds lined up at Apple stores across the world to wait for their new iPhone 6 and 6 Plus, which officially launched on Friday. But what if you have an older model and are looking to trade it in? Is it too late?
Not at all. "This is probably the perfect time to do it," said uSell co-founder and COO Nik Raman.
Plenty of electronics retailers, carriers and e-commerce sites are looking to buy your phone. Here are five places that where you can sell or trade in your older iPhone model for some decent return.
Best Buy (BBY) is offering guaranteed minimum trade-in credit of $300 for any working iPhone 5s and $125 for any working iPhone 4s between Sept. 19, 2014 and Sept. 27, 2014. Customers trading in an iPhone 5 will receive standard trade-in value, which is up to $300 for a 16GB model in good condition, the company said.
Customers choose their phone models and carriers and then find offers. Customers choose their offer and can lock in a deal for up to 30 days. For instance, an iPhone 5s 16GB on Verizon fetches for $264, with multiple offers than can go as high as $292.
Ramdan notes that carrier does matter and that Verizon phones typically sell for more than AT&T phones because the latter carrier's phones "are hard to unlock."
Older models typically depreciate as much as 20% in the seven weeks following a new iPhone announcement, Ramdan noted. There's a 5% depreciation rate in the first week itself.
"It's still not too late," he said. "This is probably the perfect time to do it."
Glyde.com, a peer-to-peer marketplace where users sell their phone to another individual in return for cash. Users receive a suggested price that results in a quick sale and packaging to ship the phone. Glyde manages the sale and handles all money transfers. The site accepts all four carriers - Verizon, AT&T, Sprint, and T-Mobile, but similar to USell, prices will vary depending on your carrier.
Since there are a myriad of combinations between phone model, gigabyte size and carrier, prices may vary. For example, an iPhone 5s 16GB on Verizon will go for $306, but that same phone on T-Mobile goes for $292.
The company quoted "up-to pricing" for various models.
iPhone 5s: Make up to $352
iPhone 5C: Make up to $272
iPhone 5: Make up to $259
iPhone 4S: Make up to $175
iPhone 4: Make up to $65
This weekend only, GameStop (GME) is offering a trade in program for iPhones. In conjunction with the launch of the new iPhone, from Friday, Sept. 19 through Sunday, Sept. 21, the gaming retailer is hosting a "Trade-In Weekend," where consumers can sell their phones at any 4,200 GameStop locations or online.
Customers can receive up to $300 in store credit through GameStop's trade in program so long as the phone is in good condition.