iphone 5 home button

As we prepare for Apple’s big media event on Sept. 9, many of us are wondering what to do with our old iPhone devices. You could give it to a family member, keep it as an emergency backup, or try to make a little money back off of your investment by selling it.

There are a number of ways you can sell your iPhone, whether it is on Ebay, Craiglist, or any number of gadget reseller websites. We’ve got a list of where you can get the most money for your much loved, but now outdated iPhone.

All of the examples below are based on a good condition, 16GB, Space Gray, AT&T iPhone 5, since many are likely to be upgrading out of a two-year contract. The amount of money you could receive for your model depends on a variety of factors, including size, condition, and whether it is factory unlocked.

Gazelle

Gazelle

Gazelle is a trustworthy online gadget-buying store. The company has made a name for itself as being convenient and simple to use. They don’t offer the most for your device, but they are also not picky with scratches, or even busted screens.

You can get an estimate right now for what your phone is worth, and even lock in the price so you can still receive that amount after the new model iPhone comes out. You have until Oct. 10 to ship the device. Gazelle will send you a box and even pay for the shipping. Right now, the base price for a 16GB iPhone 5 is $150, which is $50 less than what you bought it for brand new in 2012. You can even sell them a broken, non-working iPhone 5 for $70. Not bad for what is essentially a paperweight.

  • Base price for a 16GB Space Gray AT&T iPhone 5: $150 + $10 bonus when you use the link below
  • The good: you can lock the price in; free shipping
  • The bad: none
  • Check the value of your iPhone on Gazelle

NextWorth

NextWorth

NextWorth is another reputable source for selling your old electronic devices. Much like Gazelle, you can sell your iPhone for a reasonable market resell price with free shipping. They offer slightly less than Gazelle, but you can lock in the quote for longer; up to 30 days. Plus, you can bring your old device to a NextWorth store inside a participating Target and receive store credit on the spot. Shipping is free, and you will be able to lock the quote price for 30 days.

Right now, NextWorth is offering $$169 for a 16GB iPhone 5, which is only about $30 less than what it cost brand new two years ago. Not a bad exchange. Even a broken screen will get you $101 and a non-working device will yield $50.

Apple

Apple

Apple now has a recycle program where you can turn in your old iPhone (or iPad, or computer) in exchange for a gift card that can be used at any Apple retail or online store. The company uses PowerON to determine the estimated market value of your device based on its model and condition. Just like Gazelle and NextWorth, PowerON will provide packaging and shipping so you can send it off with little effort.

You would think that Apple’s offer would actually be fairly low, but right now, you can sell your 16GB iPhone 5 for $225, which is actually $25 more than what it cost two years ago, brand new. The catch is that you can only exchange it for an Apple retail gift card and you can’t lock in the price early. The moment Apple announces the next generation of iPhone on Sept. 5, the price of the iPhone 5 will likely plummet.

  • Base price for a 16GB Space Gray AT&T iPhone 5: $225
  • The good: higher price than most other services
  • The bad: you get an Apple gift card (not cash); quoted price can’t be locked in
  • Check the value of your iPhone at Apple

Glyde

Glyde

Glyde is a sort of “buy it now” auction house for electronics. The program will estimate what your device is worth and allow you to list it for free. They will send you the appropriate packaging and shipping labels, which are factored into the price. Glyde then takes a 12% cut of the first $100 and 8% off of the rest of the final sale for fees associated with the service, but only if your device sells. Right now, a very good condition 16GB iPhone 5 (very little wear, no engraving, Lightning cable and wall charger included) sells for $229, of which you can keep $203. That is still more than you paid for it, even with the service fees.

Similar to Apple, the catch here is that you can’t lock in the price. After Sept. 9, the price is likely to fall well below what it is priced at today.

  • Base price for a 16GB Space Gray AT&T iPhone 5: $203
  • The good: shipping included (at a fee), higher price offered
  • The bad: you can’t lock in the quoted price
  • Check the value of your iPhone at Glyde

Amazon

Amazon

Amazon really wants you to get rid of your iPhone and exchange it for one of their gadgets, like the Fire Phone. You could pretty much trade your 16 GB iPhone 5 for a 32 GB Amazon Fire Phone for the same amount of money. Right now, Amazon will buy your iPhone for $199 if it is “like new,” which is practically impossible with a two-year-old phone (they want it to be in re-giftable condition). However, you can still get $181 for an iPhone 5 in good condition. Even an “acceptable” iPhone is worth $143 to Amazon, but they won’t take non-working devices.

The catch here is that you can only exchange your iPhone for an Amazon gift card. I know you think you could easily spend that much on Amazon, but you’d be surprised at how difficult it is when you have so many possibilities. Another catch is that you can’t lock in the price, which means it will not be worth nearly as much after Sept. 9.

Craigslist

Craigslist

If you’ve collected an assortment of accessories that you think makes your iPhone 5 worth more than the market value for just the device, you may want to try selling it on Craigslist. The peer-based site offers a wide variety of prices and packages. The sky is the limit. You can set your own price based on what you see is the market value in your area and include any and all compatible accessories you think will help make yours stand out.

In my neighborhood, a 16 GB iPhone 5 is selling on Craigslist for around $250 – $300 on average. The price goes up for unlocked phones and accessory packages. Depending on what you want to sell, you could make a decent profit. However, your iPhone 5 is not going to be worth as much once the new models are announced, so you’d have to sell it before Sept. 9. Plus, selling on Craigslist can be a real hassle sometimes. People say they will meet you at a certain time, but stand you up. You’ll always get that guy who wants to haggle the price with you. It isn’t exactly convenient, but you can set your own price. For some, that may be worth it.

  • Base price for a 16GB Space Gray AT&T iPhone 5: depends on your area
  • The good: you set your own price; potentially get more from any other service listed here
  • The bad: you have to deal with Craigslist lowballers
  • Put your iPhone up for sale on Craigslist

Are you replacing your current iPhone with the newest model this year? Are you planning on selling your old one? If so, how do you plan to sell your iPhone?