How much is YOUR old iPhone worth? Apple increases trade-in values for some models by up to $80 – but some e-commerce buyers will pay more

Apple has increased the trade-in value on select iPhone models by up to $80.

Several highest adjustments include the iPhone 12 Pro Max, now worth $480 from $400, and iPhone 13 Pro Max is  $650 – up from $570.

Apple has not shared why a boost was added, but increased trade-in values could tempt users to upgrade to the latest smartphone.

However, third-party sites will pay over $100 for your outdated device.

Apple’s trade-in program is a way to offset the cost of purchasing a new iPhone, which the tech giant states is then recycled – but not all models get a second chance at life.

The program’s small print states that if phones are ‘in good shape’ will go to a new owner.’

It is not clear what happens to damaged goods. 

To trade in devices, users answer a few questions about the brand, model and condition and will receive an estimated trade-in value.

‘If you accept the trade-in estimate in the store, we’ll give you instant credit toward a purchase or a gift card you can use anytime,’ according to Apple’s website.

‘If you accept the trade-in estimate online when you purchase a new Mac, iPhone, iPad, or Apple Watch, we’ll arrange for you to send us your current device. 

‘Once we receive it, we’ll inspect it and verify its condition. 

‘If everything checks out, we’ll credit your original purchase method and send you any remaining balance on an Apple Gift Card via email.’

The value depends on the condition of the iPhone when it is shipped in Apple’s trade-in program. Here is a list of all the trade-in values 

However, third-party sites will pay over $100 for your outdated device

Apple’s page also notes that the process takes two to three weeks.

‘Recycling a device is much faster. As soon as we email you a prepaid shipping label, just send your device to our recycling partner,’ according to the company.

Users can also keep accessories like chargers when trading in their iPhones. 

Apple urges users to back up and erase data from devices before sending shipping. 

There are e-commerce buyers out there that will pay more money for your old iPhones, TechRadar reports.

A company called ItsWorthMore will give up to $696 for an iPhone 13 Pro, while Apple offers up to $500.

And GadgetGone is tempting consumers with up to $711 for the same smartphone.

There has been a demand for second-hand devices amid inflation and lackluster new smartphone features. 

Data shows that 283 million used handsets were sold in the US last year, an 11.5 percent increase from 2021, and the market is set to be worth $99 billion in 2026.

Sales of new smartphones slumped in 2020, amid the start of the coronavirus pandemic, but ever-increasing prices have kept customers at bay – an iPhone costs at least $100 more today than it did two years ago.

And Apple’s iPhones make up over 80 percent of this ‘circular’ economy, according to CCS Insight.

The International Data Corporation (IDC) claims the boom in second-hand smartphones is partially due to trade-in programs, which Apple and other major smartphone companies offer.

To trade in devices, users answer a few questions about the brand, model and condition and will receive an estimated trade-in value

Smartphone sales began to dive two years ago when electronics makers were forced to shutter due to lockdown restrictions.

China, the sole source of iPhones, started lockdowns before the rest of the world and kept them in place longer, which slowed Apple production.

However, many users have noticed that each new iPhone tends to be the same as the last.

And instead of forking over more money, they are either sticking with their current model or purchasing a used one to upgrade.

The iPhone 8, released in 2018, costs $599, but the latest device, which launched in September 2022, is on sale for $799 – and this is just for the ‘affordable model.’

Smartphones, as a whole, have also seemed to lose their sparkle.

Consumers have had these tiny computers in their pockets for more than a decade, and each year, the devices do not seem any more revolutionary than the previous.

One Redditor shared: ‘I remember about 6-7 years ago, when we had the iPhone 4S. The iPhone 5 seemed revolutionary with its new 4’ screen. The next year, the 5S seemed revolutionary with its new Touch ID sensor (the 5C not so much).

Gone are the buttons and bulky frames from early devices that have been replaced with technologies like facial recognition that most of us only dreamed about while watching science fiction films.

And while the current features are superior, they appear to have hit a stalemate – and many users have said smartphones ‘are downright boring.’

CCS Insight found that 1.3 billion phones will reach their first end-of-life in 2022, with many resold on the second-hand market, ZDENT reports.

Apple leads the pack in the ‘circular’ economy, which CCS notes is because ‘many phones from other brands have limited value in this industry and are often discarded or passed down to family members.’