No ifs, ands, or buts about it: When it comes to resale value, iPhones are the indisputable victors. Sure, you can’t walk into your carrier to trade it in six months down the road and expect to get anything close to what you spent when you first bought it. Like driving a car off the lot, simply taking your new iPhone out of the box causes its trade-in value to plummet. In fact, iPhones tend to lose about 43% of their value in the first six months. However, that doesn’t come anywhere close to Android phones, with brands like LG and Huawei depreciating around 56% and 74% on average annually, respectively.
Fortunately, thanks to Apple’s continued support for and access to software updates for older iPhone models, there’s no better smartphone option for folks who plan to offset the cost of their upgrade by trading in their old device.
Since you’re here reading this, we can only assume that you’re either shopping around for buyback quotes or toying with the idea of trading in your iPhone 11 now that the iPhone 12 has been unveiled. Luckily for you, the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max are no exception to Apple’s high-resale-value rule.
So, just how much can you expect to get for your used iPhone 11 this fall? Read on to find out.
Following its launch on September 10, 2019, the iPhone 11 series was met with much excitement thanks to its dual- and triple-lens cameras (three cheers for Night mode and an improved Portrait mode). Plus, with a starting price point of $699 (or $999 and $1,099 for the iPhone 11 Pro and Pro Max, respectively), the iPhone 11 has been an excellent option for anyone looking to upgrade.
Now, with Apple’s announcement of the newest smartphone, many are ready to up their iPhone game once again and wondering just how much they can get for their current device. Aside from which version you have, your iPhone 11, iPhone 11 Pro, or iPhone 11 Pro Max’s resale value depends on a variety of factors including:
|•||Condition – Cosmetic issues like cracks will cost you (scratches could decrease your trade-in by an average of 23%), nevermind functional damage.|
|•||Carrier – If your iPhone 11 is locked to a specific carrier (with Verizon being the exception as all Verizon phones are automatically unlocked 60 days after purchase), your resale value could drop up to 24-51% depending on your wireless provider.|
|•||Payment – You’re likely to get more for store credit than you are in cash.|
|•||Storage size – The more GBs, the bigger the payout.|
With that being said, an iPhone 11 is worth between $205 and $350. Meanwhile, the resale value for an iPhone 11 Pro falls between $265 and $450. Finally, an iPhone 11 Pro Max is worth between $325 and $490. All of these price quotes are based on a 64GB iPhone in good condition on the Verizon network and are dependent on where you choose to trade in your device.
Keep in mind that your offer can vary widely depending on the condition of your phone. For example, the same iPhone 11 above will fetch you exactly $0 at Best Buy if it doesn’t turn on, while a never-been-activated iPhone 11 Pro Max will net $735 at GadgetGone.
As you can see from the range of offers above, where you decide to trade in your used iPhone 11, iPhone 11 Pro, or iPhone 11 Pro Max can make or break your buyback payout. Getting $205 in cash that same day from an ecoATM sounds great at first, but it loses some of its luster when you realize that you could have received twice that amount in cash from GadgetGone by waiting a few days. Likewise, getting $341 in account credit from your carrier seems like a pretty great deal, but what if you need that cash in-hand?
So, when you’re in the market to trade in and trade up, or if you just need to make a quick buck, the number one thing you can do is look up iPhone resale values with a wide variety of companies. Cast a wide net—buyback sites, big-box retailers, your carrier, Apple Trade In, maybe even a wildcard like GameStop, Amazon, or ecoATM. Keep an eye out for any promotions they might be running to maximize your trade-in. Plus, some buyback companies (like GadgetGone) will even allow you to price match if you find a better offer from a competitor.
With just a little bit of research, you can rest easy knowing you’re getting the most money possible for your old iPhone.
To give you a headstart, we rounded up the resale values at some of the most popular buyback options. Please note that the offers below are for an iPhone 11, iPhone 11 Pro, or iPhone 11 Pro Max with 64GB in good condition on the Verizon network. Your offer will vary based on your iPhone’s storage size, condition, and carrier.
|iPhone 11||iPhone 11 Pro||iPhone 11 Pro Max|
|Verizon Device Trade-In Program (PayPal or store credit)||$258||$399||$459|
|T-Mobile Trade-In Program (store credit)||$241||$381||$449|
|Sprint Buyback (store credit)||$241||$381||$449|
|AT&T Trade-In Program (store credit)||$250||$390||$450|
|Apple Trade In (store credit)||$350||$450||$490|
While all these resale values are well and good (we can see those dollar signs dancing in your eyes from all the way over here), they won’t stick around for long. In fact, when a new iPhone is announced, you can expect those numbers to drop by around 30% in the 24 hours following the launch (or more, in this case—possibly even twice as much—given that the iPhone 12 is Apple’s first 5G-enabled smartphone).
In other words, it’s time to strike while the iron is hot. Most buyback companies and trade-in programs will give you time to decide by locking in your quote (our price-lock period is 14 days), so be sure to take advantage of this while iPhone 11 resale values are still high.
And speaking of changing trade-in values, it is also important to note that all of these offers are subject to change once your device is received and evaluated. While you might think that your iPhone is in good condition, evaluators may feel differently. Don’t be surprised if that $350 you were expecting turns into something closer to $275 due to wear and tear.
Frustrating much? We feel your pain. Unfortunately, what may look like gentle use to you may actually be more on the heavy use side of things when viewed through the eyes of an expert. Thankfully, most trade-in options will send your iPhone back to you—for free, no questions asked—if you’re unhappy with the updated offer. Most, but not all (we’re looking at you, Verizon).
In other words, do your research.
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