How to sell my iPhone for cash?
You’ve probably had your iPhone with you for a long time, and got a couple of other phones, an iPod and an old tablet stashed away in the closet. Find out if they are in a decent working condition, because, if they are, someone, somewhere in the world will happily pay good money for them.
Trade-in sites like Stopoint.com act as a middle layer, that connects those who want to sell their old electronics for money to those who want to buy them. It’s a big, growing industry. According to Gartner, the market for refurbished phones was worth $7 billion in 2014 and is projected to be worth $14 billion by 2017 - this is HUGE.
So, can you take advantage of the large second hand market for old electronics and make money from it? You are sure, as long as you know where to sell. You can sell at traditional platforms such as eBay and Craigslist, but there is no guarantee that you will find a buyer here, as there are literally millions of products on sale on these sites - which means your old electronics can get lost in the crowd. It is particularly difficult to make an impression on eBay. Plus, you are required to pay a seller fee and a fee for the listing, which cuts into
your profit margin.
That’s why trade-in programs such as Stopoint.com are so popular. When you sell to a trade-in program, you can be sure that your old electronics will be bought, as long as it is in a decent working condition and matches your description of it. There are no back and forth conversations with the buyer, and the whole thing is pretty much hassle free.
Okay! So where should I sell my iPhone 5s?
Let’s look at some of the popular trade-in sites where you can sell your old iPhone 5S and other tech gadgets for cash.
Gazelle - Gazelle is one of the most popular trade-in programs that has been in business since 2006. Gazelle mainly buys Apple products sends money by PayPal or Amazon Gift Cards, depending on your choice. But here’s the problem - Gazelle takes 7 to 10 days to send your payment by PayPal, which is really quite slow. You want your money faster.
Amazon Trade-In - Amazon has a decent trade-in program, and pays good money too. But they don’t give you cash - you will be paid in the form of Amazon Gift Cards and can use the money to buy stuff on Amazon. So if it’s cash that you are looking for, Amazon is not the place to sell your old electronics.
It’s the same with trade-in programs offered by other major retailers such as Best Buy, Target and Wal-Mart. You will be paid in store credits, and not in cash.
Swappa - Swappa is a popular site for selling old electronics, which is similar to eBay but has no listing fees. However, Swappa is a victim of its own popularity, there are millions of products on sale at Swappa; so it is very hard for your stuff to get noticed in the crowd.
Stopoint.com - Stopoint.com is a young startup that has a trade-in program that is very similar in operation to Gazelle, except that Stopoint.com offers a Price Match Guarantee, where you are guaranteed to get a higher price for your electronics than what you would get from any other trade-in program on the internet.
While Gazelle takes 7 to 10 days to send your payment, Stopoint.com takes less than 24 hours (after receiving your old electronics) to send the payment by PayPal. You don’t have to pay for the shipping either - it’s free, as you will be sent a prepaid FedEx shipping label.