Are you keeping your old iPhone?
Used iPhones are flooding eBay and Craigslist, according to a USA Today report, and retailers are also on the hunt for recent models as Apple Inc. gets ready to unveil what many believe will be its newest iPhone on Wednesday.
USA Today says there are more than 6,000 of the used iPhone 4 models on sale on eBay and around 4,000 of the used iPhone 4S. A 64-gig, AT&T-issued 4S, for example, was reportedly selling for as much as $480 on eBay. The going price depends on the number of gigs and working condition. Original packaging also helps.
NetWorth, which buys back used phones and values their worth, says requests for quotes have increased 610 percent from Aug. 17 to Sept. 6, compared with the same period before the iPhone 4S was unveiled in 2011.
Many owners of the iPhone 4, which was introduced in 2011, didn’t upgrade to the 4S when it debuted because they didn’t feel there was much a difference between the old and new model.
The newest iPhone, however, is expected to look different and come with a few new bells and whistles, fueling a higher interest among consumers who want to upgrade.
T-Mobile said it will make a stronger bid for used iPhones from AT&T, one of several carriers offering the smartphone. USA Today also reports that retailers like Best Buy and Target are also getting in on the iPhone buyback bandwagon, and Apple will issue gift cards for the value of iPhones returned in good working condition.
Are you ready to cash in and upgrade?