How Much Is an iPhone 12 Worth? Quite a Bit, Actually

If you’ve been yearning to get an iPhone 13 upgrade, you might be asking yourself at some point, “How much is an iPhone 12 worth?”

Considering that the iPhone 12 isn’t even that old, there are a lot of people out there that still enjoy them. And why not? Apple’s technology has significant value, thanks to consistent iOS updates and great features. And even with a newer model on the market, there’s still a lot to like about iPhone 12 and its counterparts.

That said, if you are in the mood for a trade-in, there’s something you have to keep in mind. You’ll get a great deal of value behind it, but not a massive amount. That’s because iPhones tend to lose about 43% of their value within the first six months of release. (That said, they fare much better than Android phones, with brands like LG and Huawei depreciating around 56% and 74% on average annually, respectively.)

Believe it or not, the iPhone 12 still gets a decent amount of money on trade-in.

As for the value you can get to offset the price towards an iPhone 13 – or just pocket some cold, hard cash if you’ve picked one up already – there’s a lot to look over. Since you’re here reading this, we can only assume that you’re curious about what it could be.

Read on to find out just what you can get for your iPhone 12!

 

Contents

 

  • How Much Is an iPhone 12 Worth?
  • Take Some Time and Shop Around
  • iPhone 12 Resale Value Comparison Chart
  • iPhone 12 Values Can Change On a Dime

 

How Much Is an iPhone 12 Worth?

Released on October 13, 2020, the iPhone 11 series was met with much excitement thanks to its Super Retina XDR OLED panel, a huge step up in the original. It also utilized a MagSafe Apple14 Bionic system, improving video performance overall. This new tech didn’t affect the price too badly, however, as the general iPhone 12 sold for around $699 with 64GB of storage. As you might expect, the price increased depending on the model and memory capacity.

As Apple has now moved on to the superior iPhone 13, you might think that the iPhone 12 isn’t worth as much. But, surprise, it is. That said, there are some things you’ll want to keep in mind before you sell it, namely with these key categories:

 

  • Condition – Cosmetic issues like cracks will set you back, as scratches could decrease your trade-in by an average of 23%, and that’s not including any damage that gets in the way of functioning. Check it properly first.
  • Carrier – If your iPhone 12 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. Definitely check the terms of your agreement.
  • Payment – You’re likely to get more for store credit than you are in cash, but you’re limited in terms of where you can spend it.
  • Storage size – The bigger the storage space, the bigger the payout. So higher end phones will definitely fetch a few more dollars.

Keep in mind that prices vary depending on the condition of the device, its storage size and if it’s locked to a carrier or not. But in general, you get the idea.

Overall, an iPhone 12 is still worth between $280 and $420. An iPhone 12 Mini can fetch between $205 and $420. If you have an iPhone 12 Pro, you can get between $340 and $578, while the iPhone 12 Pro Max will get between $395 and $715. These are all for a 128GB size device with Verizon service in good condition, so it could vary.

Keep in mind that offers can vary widely depending on the condition of your phone. For example, the same iPhone 12 from above will fetch you exactly $0 at Best Buy if it doesn’t turn on, while a never-been-activated iPhone 12 Pro Max will net $940 at GadgetGone.

 

Take enough time to research and you can score big with your iPhone 12.

Take Some Time and Shop Around

As you can see from the offers below (recently updated with 2022 estimates), where you decide to trade in your used iPhone 12 or corresponding model can result in getting more cash or credit back. Getting $280 in cash that same day from an ecoATM for a general unlocked iPhone 12 sounds great at first, but it loses some of its luster when you realize that you could have received much more from GadgetGone simply by waiting a few days.

Likewise, getting $300 in account credit from your carrier seems like a pretty great deal, but doesn’t do much good if you actually need cash.

As you check the market for either cash or credit, the big thing to watch for you is iPhone resale values with a wide variety of companies. Check everywhere – buyback sites, big-box retailers, your carrier, Apple Trade In, maybe even companies 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 (including us at GadgetGone) will even let you 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 from the iPhone 12. But enough talk – let’s look at prices!

You’ll get quite a bit for your iPhone 12.

iPhone 12 Resale Value Comparison Chart

To help you along, we rounded up the resale values at some of the most popular buyback options. Please note that the offers below are for a 256GB iPhone 12, iPhone 12 Mini and iPhone 12 Pro Max (the three best-selling models – they also take in the iPhone 12 Pro) in good condition on the Verizon network. Your offer will vary based on your iPhone’s storage size, condition, and carrier. 

iPhone 12 iPhone 12 Mini iPhone 12 Pro Max
GadgetGone (cash) $530 $435 $760
Amazon Trade-In (credit) $450 $413 $600
Best Buy Trade-In (credit) $450 $325 $700
ecoATM (cash) $305 $220 $435
GameStop Trade-In (credit) $535 $381 $745
Apple Trade In (store credit) $450 $350 $700
AT&T Trade-In Program (store credit) $400 $290 $530
T-Mobile Trade-In Program (store credit) $390 $340 $450
Verizon Device Trade-In Program (store credit) $400 $336 $535

It’s easy to see that some offers are better than others. But before you jump, check out our reviews of Amazon Trade-In, Best Buy Trade-In, ecoATM, GameStop Trade-In, Apple Trade In, AT&T Trade-In, T-Mobile Trade-In, and Verizon Device Trade-In and then make your decision.

iPhone 12 Values Can Change On a Dime

Keep in mind that iPhone device prices change regularly. iPhone 11 prices have dropped quite a bit over the past year; and once the iPhone 14 is eventually introduced, that means values for iPhone 12 and 13 will likely take a tumble.

Usually, 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, possibly even twice as much.)

So, yeah, if you see an unbeatable offer, you should go after it! Most buyback companies and trade-in programs will give you time to decide by locking in your quote (GadgetGone offers a lock-down offer for 14 days), so be sure to take advantage of this while resale values are still at a fundamental value.

Just remember one thing – it’s vital 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 $400 you were going to get drops to $375 because of “one little scratch” that you might have missed.

It can be frustrating, we know. Unfortunately, what may look like a mild blemish to you could be something major to someone else (especially Amazon, who outsources its phone examination to a third-party company). So make sure you look over your phone, check its operation and then take notes on any problems you might find.

There is good news. Most trade-in options will send your iPhone back to you free of charge, no questions asked, if you’re unhappy with the updated offer. Again, keep in mind we said “most.” We’re looking at you, Verizon

So take the time and do your research, and if you find an offer that really attracts you, go for it! You’ll get some good money from your iPhone 12, be it cash or credit, and then apply that to your new phone or maybe just take care of yourself for a bit. Either way, we hope this guide helped you out – and that you’ll consider GadgetGone’s reasonable prices for selling your goods!

Follow us on social media for more helpful tech tips, future special offers and behind-the-scenes GadgetGone goodness! (Plus, we have a dog!)

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Twitter: @GadgetGone

 

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Robert Workman
Published by
Robert Workman

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