Have you ever thought about the old iPhone sitting in your drawer might still be worth something? It’s easy to write off old iPhones once a new model comes out, but some of these devices are going for fantastic amounts of money. So whether you’re sitting on these old devices because you’re a tech enthusiast who can’t let them go or recently came into possession of them and are trying to figure out how you can monetize them, you never know the kind of hidden gold you might be sitting on. Continue to read to find out if your old Apple device is sitting on an untold fortune and how you can maximize the value you get from that resale.
Are Old iPhones Really Worth Anything?
Yes, old iPhones can still hold significant value depending on the model and condition of the device. Whether it be a collectible value, a resale value, or even recycling value, these devices aren’t just old out-of- date gadgets collecting dust. With that in mind, let’s breakdown why certain older iPhones might be worth a pretty penny:
Collectible Value
Apple’s brand has a very strong cult following, and there are certain devices that have turned into collectors’ items. For example, if you have a first-generation iPhone from 2007, consider yourself lucky if it’s an 8GB model that is factory-sealed and unused. Put that baby on eBay and get yourselves as much as $25,000. It’s the same deal with some of the old iPods like the 2001 classic models, which sellers had priced as high as $49,000 on resale sites.
Collectors are driving the demand for the discontinued Apple products tied to the Steve Jobs era and the early days of the company. If your old iPhone has historical significance or is in pristine condition, there are buyers out there willing to pay a premium for it.
Resale Value
Not every old iPhone will go for tens of thousands of dollars, but even a well-used device can still be worth hundreds. Depending on the model and its storage capacity, used iPhones in good condition routinely sell for nice sums on websites like eBay or Swappa. You might get less through trade-ins from carriers or retailers, but selling directly to buyers gets you the most money.
The important thing to getting a good price? Keep your iPhone in excellent condition. A phone with minimal wear and tear always attracts more buyers and higher offers.
Recycling Value
Even if your iPhone is broken, damaged, or completely outdated, it could still be worth something to recyclers. Many recycling programs will pay for old iPhones to harvest valuable parts and materials, including precious metals. While you won’t get rich from recycling, it is an eco-friendly way to make a little cash from a device you don’t want anymore.
In short, your old iPhone is as valuable as its model, condition and demand, but even aging devices can bring you a decent amount of cash if you look in the right direction for a buyer.
Why You Should Care About the Value of Old iPhones
Now that you know your old iPhone might still be something worth looking into, let’s get more into how you can assess the value of your device and where to sell it for the most money. Whether you’re trying to sell a rare vintage iPhone to a collector or just trying to get some cash out of your last device, a few things will help you get every penny you can. Read on to qualify your iPhone as “old” and learn what you need to do before you put it up for sale.
What is Considered Old for an iPhone?
Not every iPhone that is old is considered valuable, but knowing what makes an iPhone old will help you figure out if you might have something of value or not.
iPhone Obsolescence
Apple usually calls the iPhone obsolete when Apple has not been selling it for seven years. Once an iPhone reaches this point, Apple no longer offers hardware service or software updates. For reference, the iPhone 5s, shot out in 2013, will be officially deemed “obsolete” in 2024. That means Apple service providers can’t order parts to fix those devices, which have become harder to stumble on and sometimes more valuable to folks who like antique stuff.
Typical iPhone Lifespan
Most people use an iPhone for three to four years before they’re done with it. Generally, that’s because the batteries don’t last much longer than that. However, if you’re like some folks who prefer how an older iPhone looks and feels, you could hang onto that iPhone for up to seven years.
Factors Affecting Obsolescence
Beyond just age, things like battery life and software updates can influence how long an iPhone works and is valuable to someone. For instance, as iPhone models continue to go obsolete, they don’t run the latest iOS software anymore. When they don’t run the latest software, the device opens up to more security holes. Something that collector guy doesn’t want.
Steps to Unlock and Reset Your Old iPhone Before Selling
Before you sell your iPhone, you need to reset it so your stuff isn’t still on it. Here are the steps you must follow to wipe your old iPhone.
- Back Up Your iPhone: Start by backing up your data to iCloud or your computer using iTunes/Finder. Ensure all your important information, like photos, contacts, and messages, is saved.
- Transfer 2FA Accounts: Make sure to transfer any two-factor authentication (2FA) accounts, such as those on Google Authenticator, to your new device.
- Unpair Devices: Unpair any connected devices like your Apple Watch.
- Sign Out of iCloud and Apple ID: Go to Settings > [Your Name] > Sign Out. Do the same for the iTunes & App Store.
- Erase All Content and Settings: Head to Settings > General > Transfer or Reset iPhone > Erase All Content and Settings. Enter your passcode and Apple ID password to complete the process.
- Verify Removal from iCloud: Log into iCloud.com, go to “Find My iPhone,” and make sure the device is removed from your account.
Follow these steps, and you’ll do two things:
1. Make sure your stuff is safe.
2. Make sure the person you sell your phone to has what they need and your files aren’t still on there.
How Does the Condition of My iPhone Affect Its Resale Value?
The condition your phone is in is huge, as far as what someone will give you for it. How:
Mint Condition
Usually, if you have an iPhone in mint condition and no visible scratches/marks on it, you can sell for 20-30% more money because way more people want something like that versus something in good or fair shape.
If you also have the original impeccable packaging that an iPhone was shipped in, you can get way more than you think you can – because there are people who collect that stuff and want it in mint condition.
Good Condition
Having said that, iPhones with minor signs of wear and tear still hold value. You’re probably not going to get as much as you could for something in mint condition, but you’d be surprised at what people will pay for used iPhones or stuff like that.
Fair or Poor Condition
At the end of the day, let’s say you have devices that have noticeable dents, screen cracks, or weren’t fully functioning for one reason or another. Those are going to be more in the 50-60% of what a mint condition item could sell for.
You’d be surprised who still wants a device, even if the screen is cracked. The reason they want it is because they can still use it, or they can repair it, or hand something back to somebody that already had a cracked screen and needs another one.
Where Are the Best Places to Sell an Old iPhone?
Now your iPhone is ready to sell. So where should I sell it, you ask? Some of the best places to sell it are:
Online Buyback Stores
Sites like Gazelle, BuyBackWorld, and EcoATM will give you quick cash for your iPhone. You’ll get an instant quote, you ship your device to them for free, then get paid via check or PayPal. Super easy, but sometimes not the most money.
Digital Marketplaces
For the most money, sell directly to buyers through eBay, Swappa, Facebook Marketplace, or other direct-to-consumer resale platforms. More effort, but usually better return on your device.
In-Store Trade-Ins
You can also take advantage of trade-in programs offered at retailers like Best Buy and Amazon, which allow you to trade your old phone for a gift card or store credit. While this does generally result in a lower payout, it’s faster and easier than selling it on your own.
Conclusion
Old iPhones can still hold value, whether to collectors, resellers, or recyclers. The key to recouping the most value from your old iPhone is to know how much it’s actually worth, reset it back to the beginning, and list it on the site where you’ll receive the most return. So, before you put that old iPhone in a drawer somewhere and forget about it, think about the possibilities—you might be surprised to find out how much it’s actually worth.
