Apple is now allowing trade ins of old iPhones at its retail stores, something other electronics retailers have already been doing, and customers can get from between US$ 150 to US$ 250 per device.
Apple Gets in on iPhone Reseller Market
Anyone who's ever pondered buying an iPhone has no doubt scoured Craigslist and other outlets for a perhaps better deal on an older model, but the prices are always still pretty high. They're like little Honda's the way they keep their value, and now Apple is cashing in on people selling their old phone to free up some cash to buy the next one on line.
In this case, that's likely to be the upcoming iPhone that is rumored to launch Sept. 10. US mobile phone plans being what they are, there's no simple way to really figure out if it's the best deal to return an old iPhone at the Apple store rather than hock it online. The only way cash in at the Apple store is to re up with a new iPhone and a new two year mobile plan.
If that's not an option, but people still want to get rid of their old iPhones, at least the Apple store is willing to recycle them. Furthermore, Apple won't be reselling refurbished iPhones, although it currently does the same thing for Macs.
New iPhone Required
There are a few restrictions on the program, with the most important one being the buy back credit can only be used on a new iPhone, not other devices or gift cards. There is rebate program online from Apple, and that is in exchange for Apple gift cards, but the phone has to be sent in through the mail.
Additionally, phones must be powered on in the store to prove they work, cannot be water damaged, and must be currently connected to a wireless contract. Once an Apple store employee appraises the phone, a value will be determined, and if the resale price is higher than the price of a new phone, the difference will be paid in a gift card.
While many iPhone users already regularly update their phones for new iPhones, at least this deal will get them thinking about getting the next iteration now instead of waiting until the holidays.