Each year, thousands of people around the world wake when the moon is up to go stand in line. No, not for Black Friday shopping or Hamilton tickets (although that happens too), but to be one of the first to own the newest iPhone. Is this unnecessary? Yup, especially with the ability to pre-order. What about fanatical or, dare we say, overkill? Eh, possibly, but people will do crazy things for love. And if there’s one thing that Apple fans love, it’s a new iPhone. But, what is it about these prisms of Gorilla Glass and metal that inspire so much devotion? In a word, quality.
With their sleek design, premium components, and innovative technology, people can’t help but come back for more. This, along with Apple providing continued access to software updates for even older-model iPhones, all adds up to yet another perk for Apple fans: blissfully high resale values. Sure, merely taking your new phone out of its box will topple its value. Even taking that into account, however, iPhones only depreciate around 43% in the first year. By contrasting that with brands like Google and Huawei which respectively lose around 67% and 74% of their value annually, it’s plain to see that iPhones are the superior choice if you’re looking to capitalize on the resale value when trading in.
For all of you out there wondering what your iPhone X is worth (ready to trade in for that new iPhone 12, perhaps?), you’re in luck. Even though it’s pushing three years old, this generation of iPhone still hangs on to respectable resale values.
So, about how much can you expect to get for your old iPhone X right now? Keep reading to find out.
Thanks to its new notch and the disappearance of the home button, the iPhone X was considered a gamble when it was unveiled on September 12, 2017. However, it won people over with its powerful TrueDepth camera and eye-popping Super Retina display. Of course, this “future of the smartphone” came with a price to match, starting out at a hefty $999.
With another iPhone reveal fast approaching, you’re probably pondering an upgrade and wondering how much your iPhone X is worth. In general, your iPhone X’s resale value will depend on several factors:
|•||Condition – Dings, dents, cracked back glass, or (gasp!) functional damage: Needless to say, they’ll all cost you. Even simple scratches can lower your buyback payout by an average of 23%.|
|•||Carrier – Verizon customers, rejoice! All Verizon phones are automatically unlocked 60 days after purchase. For everyone else, however, be prepared to see your resale value decrease by 24-51% depending on which network you use.|
|•||Payment – For trade-in programs with multiple payment options, you’ll generally get more by choosing store credit instead of cash.|
|•||Storage size – When it comes to your iPhone X’s resale value, bigger is always better. And by better, we mean more money.|
Taking these factors into account, an iPhone X is worth between $140 and $295 depending on which buyback option you choose. Note that these resale values are for a good condition, 64GB iPhone X on the Verizon network.
Of course, your specific offer will change based on your own phone’s specifications. For example, a similar iPhone X would be worth a big, fat $0 at Best Buy if it doesn’t turn on. In contrast, an iPhone X that has never been activated would fetch $345 at GadgetGone.
Ready to trade in and trade up? Not so fast. The buyback program you go with can make or break your resale value. In fact, depending on your iPhone, you could be looking at possibly two times as much money. So, while going home $140 richer after stopping by your local ecoATM sounds more than fair, you might change your tune once you see that sending your phone to GadgetGone could net you $295. Similarly, $255 in store credit is all well and good, but what if you actually need that cash in-hand?
Simply put, no matter if you’re ready for an upgrade or need to make a quick buck, you should first take some time to shop around. As tempting as it might be to only look at your carrier, Apple Trade In, or big-box retailers like Best Buy, we encourage you to think outside the box. Buyback sites like GadgetGone or non-traditional options like ecoATM, Amazon, and GameStop can offer better payouts or more convenience than other well-known options. To maximize your trade-in, look for special promotions or options that allow you to price match (like GadgetGone).
With a bit of time and research, you’re sure to get the most money possible for your old iPhone X.
To get you started, we made note of the current resale values at some popular trade-in options. The amounts below are specifically for a good condition, 64GB iPhone X on the Verizon network. Again, your specific offer will vary according to your iPhone’s storage size, condition, and carrier.
|Verizon Device Trade-In Program (PayPal or store credit)||$263|
|T-Mobile Trade-In Program (store credit)||$255|
|Sprint Buyback (store credit)||$207|
|AT&T Trade-In Program (store credit)||$207|
|Best Buy Trade-In (store credit)||$200|
|Apple Trade In (store credit)||$260|
Daydreaming about all the money you’ll save on your new iPhone? Don’t get too excited. Resale values are constantly in flux, but especially so in the 24 hours following an iPhone unveiling. Normally, you can expect your potential buyback price to sink at least 30%. This year, however, that depreciation rate could double if Apple announces its first 5G-enabled iPhone.
In short, strike while the iron is hot. You might ask, “but what about all my research?” Well dear reader, in this case, you really can have your cake and eat it too. Many trade-in programs will lock in your offer for you for several days (our price-lock period is 14 days). And since quotes are obligation-free, you’ll be able to both claim your iPhone’s currently high resale value and comparison shop for the best offer. It’s a win-win situation.
It’s also important that we mention another thing that can alter your iPhone X’s trade-in value: its condition. Specifically, once your phone is received, it will be inspected both by hand and with software for any cosmetic or underlying issues. If the results of the evaluation aren’t in line with the condition that was given for your device at the time of the quote, your final offer will be adjusted accordingly. Why? Aside from people looking at things they love through rose-colored glasses, experts just know what to look for. So, don’t be caught off guard if that $255 you were expecting turns into $200 because of wear and tear.
Speaking from experience, we know how frustrating that can be. That’s why we (and many other trade-in programs) will gladly send your iPhone back to you with zero hassle for free (or, with certain buyback options, for a small shipping fee) if you’re not completely happy with your final offer. Keep in mind, however, that with certain companies (*ahem* Verizon), once you’ve shipped it, it’s gone for good and you won’t be seeing any compensation for your troubles.
In other words, do your research.
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