Apple’s latest iPhones, the iPhone 6 and iPhone 6 Plus are now available to buy.
If you’re an iPhone owner looking to upgrade, selling your old handset is a great way to make a bit of cash to put towards a new phone.
iPhones tend to hold their value pretty well, so even the oldest model can be worth some money.
Here’s our guide on selling your iPhone.
Do your research
Before you do anything, find out how much your iPhone is worth. That way you’ve got a realistic idea of how much you might get for it.
eBay is always a good starting point, watch the listings and see how much things go for. There’s usually a flurry of sales activity before a new iPhone comes out.
Computer Exchange (or CEX) is also worth checking out. This nationwide chain buys and sells iPhones and offers different prices depending on their condition.
Phone recycling websites are a third option, check out several to find typical prices. Consumer information site Money Saving Expert has a comparison tool that’s worth checking out. Prices vary dramatically from company to company, and remember that the price quoted is the maximum price – if there is any cosmetic damage you may get less money.
Pick the right selling method
Each method of selling has advantages and disadvantages.
Selling on eBay often makes more money, but it can be more hassle. You’ve got to wait for someone to pay, package it up and then await feedback. The majority of people are honest, but you could get an unscrupulous buyer who causes difficulties. Certainly never send your iPhone until you have received payment.
Selling to CEX might not garner you as much money as eBay, but there’s little chance of post-buyer agro and the turnover can be quicker.
You need proof of address to set up a CEX account, and once that’s sorted, you leave the iPhone with a store for testing, the time period of which will vary from store to store.
When you go to pick up the phone you’ll be given values for store credit and cash (the former is higher) – if it’s too low you don’t have to accept it.
There are a number of companies that will recycle your mobile for cash, such asFonebank, Envirofone and Mazuma Mobile, as well as the mobile networks such as EE. This method is probably the easiest solution, but can net you less money.
Fill in a form online, package the device up, send it off and wait for a cheque, voucher or balance transfer.
It can be tempting to choose the company which offers the most money, but as we’ve mentioned, in reality you may get far less. Some companies are more reputable than others, so always check online forums such as Money Saving Expert to read reviews from other customers.
Back up and erase
You’ll get more money if your iPhone is boxed and comes with the original accessories. If you haven’t kept the box (and many people won’t), at the very least make sure you’ve got a charging cable.
Give the iPhone a good polish for any photos, particularly if you are selling on eBay.
Make sure your content is backed up first using iCloud. Head to General – iCloud – Storage and Backup and turn iCloud Backup to on. Your phone needs to be plugged in and connected to wi-fi to do this.
If you’ve got iOS 8, go to Settings – iCloud – Backup, make sure iCloud Backup is flicked to On and tap Back up now.
If you are using iTunes on a PC or Mac, plug your iPhone in, click on it when it appears at the top to bring up the Summary screen and select Back up now.
Crucially make sure you wipe its memory before sending it anywhere, otherwise a complete stranger could soon be playing your apps and looking at your holiday snaps. Head to Settings – General – Reset – Erase All Content and Settings.
If your iPhone is damaged, don’t just throw it away get it repaired by us.
However, if your iPhone works, but the hardware has been damaged – such as a broken Home button, it’s often worth paying to fix it before you sell it because you’ll get more money for a working phone.
For example Fonebank will pay up to £100 for a damaged 16GB iPhone 5S or up to £230 for a working model.
Repairs UK, however, charges £59.99 to repair an iPhone 5S screen or £29.99 for a power button replacement. So you’ll get more money if you fix it first.
If you are sending your iPhone to a buyer or phone recycling service by post, always ensure the value of the item is covered in case of loss or damage.
Royal Mail Special Delivery is suitable for items up to £500 in value, and if your iPhone is worth more consider using a courier service.
Some phone recycling services offer free postage, but don’t take risks just to save a few pounds. Special Delivery costs around £7-£9, which is a small price for peace of mind.