iPhone Trade In Value: How Much Is Your Phone Worth?

iPhone Trade In Value: How Much Is Your Phone Worth?

Posted by Mac Me an Offer Tech Team on Feb 28th 2024

An iPhone's trade-in value is influenced by several factors. If you're thinking of selling your iPhone 13 so you can buy the new iPhone 14 or wondering if your older Apple iPhone is still eligible for trade and what it's worth, you've come to the right place.

Several elements influence the resale value of iPhones, including their condition and where you sell. Learn the most important factors all trade-in companies will consider in assessing the worth of your Apple device. 

Understanding Depreciation

iPhones retain their value better than phones of other brands primarily due to Apple's incredible operating system support. An iPhone can support the latest iOS for up to six years, meaning users get the latest software upgrades without needing to buy new hardware. In comparison, most Android phones only support operating system updates for two years.

Additionally, while Android phones compete with several companies, the only competition for new iPhones is old ones.

Assessing Your iPhone's Condition Before Sale

Your iPhone's condition is the most significant factor in determining its value. Your phone's resale value will also increase or decrease depending on itsage, modeland other observable characteristics. For instance, scratches, cracksand other physical signs of depreciation or damage reduce the value of your phone, while a device in excellent working condition will be worth more.

Here are the primary factors affecting your phone's value.

The Age and Model of Your Phone

Your phone's age and model are major contributors to its value. Every year, new iPhone models are released, making oldermodels less valuable.

According to Apple's Product Environmental Report for iPhone 14 Pro, the company assumes only a three- or four-year period for power use by the first owner.

While many older iPhones can still run iOS, some apps will stop working if the operating system is too old. 

However, older iPhones can still retain value. Demand for vintage and discontinued phones is rising as collectors markets grow. Additionally, iPhone users who occasionally get frustrated with key modifications in the latest iPhone models may seek older models of iPhones. If they do, then there will be a demand for older models, and the value of your iPhone will likely increase.

Internal Storage Size

Your iPhone's internal storage affects its performance, which is why it also affects the price. In Android phones, RAM matters as much, if not more. However, iOS works differently. It can run with less RAM, and it can run faster because there is no downtime translating codes with its native operating system.

Apple's estimates for its trade-in program are pretty standard regardless of the storage size, butstorage size does affect the final trade-in value of your iPhone.

Models with higher internal storage capacity will fetch more than those with less.

Battery Health

Your phone's battery is essential for its functionality. If the device doesn't power on fully or dies after a few hours, it will be worth less. Similarly, notifications such as "Service Battery" or "Replace Now" that indicate poor battery health will decrease the value.

You can maintain your battery by optimizing your phone's settings. Adjusting the brightness automatically, using Wi-Fi rather than a cellular network and turning on Low Power Mode can all improve your battery life. Battery usage information is easily accessible in an iPhone's Settings.

Cosmetic Value

An iPhone's trade-in value can be affected by its cosmetic condition or general appearance.

Scratches and dents will lower your device's trade-in value, so if you intend to sell your phone, it's best to protect it from wear and tear by using a case, for example.

Genuine Repair Parts

Going to Apple repair centers for a phone repair can be more expensive, but it's also a fantastic strategy to keep the trade-in value of your iPhone high.

If Apple discovers that nongenuine parts were used in your iPhone, it will refuse to accept it for trade-in. Also, other stores may reduce the value. Conversely, if you've used AppleCare and any parts are still under warranty, providing this information and authenticating genuine Apple parts can increase the value.

Obviously, if your iPhone has never been repaired, the trade-in value of your phone will not be affected.

Working Condition

Apple accepts brokeniPhones for trade-in unless they've had third-party repairs. Other stores are also less likely to accept devices that don't work.

Damage to an iPhone that affects its operation, such as a cracked screen or low battery life, will significantly reduce how much you can get in exchange.

If the device has severe damage, you may not receive anything in return because its parts will only be recycled or reused in another device.

Carrier Unlocking

Whether your phone is tied to a particular cell carrier or unlocked also affects its resale value. An unlocked phone is likely going to be worth more since it's compatible with any carrier. You can check whether your iPhone is locked in the Settings. "No SIM restrictions" next to Carrier Lock means your phone is already unlocked. If your iPhone is locked into one carrier, contact your current carrier and request they unlock it.

Navigating Trade-In Options

You have two main options for reselling your iPhone — Apple's trade-in services or third-party resale markets.

Apple Trade-In Program

Apple publishes the trade-in value of old iPhones on its website. You can go to their website and exchange your old iPhone for a trade-in credit or store gift card. You must provide your own shipping label or drop off the device at an Apple Store.

Check out what they might offer for your iPhone below.

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Independent Resale Markets

Selling to an independent third-party reseller is often a better choice. You can get an estimate in minutes and receive your money quickly. Additionally, resellers may offer more money or credit than a manufacturer or carrier. If you want to upgrade, most companies also sell refurbished devices at lower prices, so you get more for your money.

Strategies to Maximize Your iPhone's Resale Value

If you'd rather have cash instead of Apple credit or a gift card, consider selling your iPhone to Mac Me an Offer. Mac Me an Offer pays cash in exchange for your iPhone, iPad, MacBook, iMac or Apple Watch.

Your best option is almost always to trade in your old iPhone to Mac Me an Offer. You can rest assured that we pay more than the competition, and you'll get your money sooner. The payment method is also very simple. After you ship your device, you can receive your payment by check or Zelle or get store credit at Mac of All Trades to purchase a new phone.

Our Certified Technicians can also reset your iPhone to factory settings, effectively securing and protecting your data and other personal information from the next owner.

Trading in your iPhone at Mac Me an Offer is pretty straightforward. Just use our online Estimator Tool, complete a form and receive an instant offer.

If you're satisfied with the offer, you can get a free shipping label and send your device immediately. Then you won't have to worry about finding a buyer anymore. Learn more about how to sell your used iPhone with Mac Me an Offer today!