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How to Calculate the Resale Value of Your iPhone

Apple devices, like the Apple iPhone, have become some of the most sought-after handheld electronics on the market. Demand increases and the available pool of old devices grows larger with each iteration of new devices. Many cell phone companies have a trade-in program that allows customers to upgrade when they bring in their old devices. 

Many customers do not necessarily want a brand-new iPhone model. Thankfully, there is a huge market for used or refurbished phones in good condition. Whether you’re shopping at a large online marketplace like eBay or Amazon or looking for a good Apple trade-in center at a phone retailer near you, there are plenty of used cell phone options. 

This article highlights the resale value of iPhone devices, offers insights on how to get the best price for your used device, and provides details on how to get the best price for your old phone when you are ready to sell.

Do iPhones have a good resale value?

The good news is that iPhones tend to hold their value for a long time. However, it is worth noting that the further back you go in iterations, the less money you should expect to receive for your used device. For example, an iPhone 5 is hardly worth anything — even in mint condition — simply because the technology has progressed greatly since that iteration. 

Sellers can expect a higher return on an old device beginning at roughly the iPhone 7 and iPhone 8 iterations. For example, an iPhone 7 in mint condition can go for around $77, an iPhone 7 Plus for about $141, and an iPhone 8 for $135. Naturally, the newer the phone and the better the condition, the greater your chances of receiving a healthy sum. 

It’s always advisable to research your device’s True Market Value (TMV) before listing it for sale or taking it to a trade-in program. This way, you will have a general idea of what the old phone should be worth before negotiating for a new one.

What is a good price for a used iPhone? 

Like everything else sold in used condition, iPhone worth is determined by a range of factors. What is the phone’s condition? Does it have scratches or cracks? What accessories, such as cases and chargers, are available with it? How old is the device? As previously mentioned, the newer the iPhone, the more you can expect to pay or receive for it. 

Here is a short breakdown of some newer iPhone models and the typical pricing you can expect for each model:

Type of iPhone Mint Good Damaged
iPhone XR $236.25     $204.75     $151
iPhone XS Max     $315 $285 $201
iPhone 11 Pro $430 $390 $251
iPhone 11 Pro Max     $540 $480 $331
iPhone 12 $510 $425 $261
iPhone 12 Mini $435 $385 $221
iPhone 12 Pro $700 $645 $391
iPhone 12Pro Max     $785 $710 $471
iPhone 13 $740 $670 $471
iPhone 13 Pro $1,070     $980 $711
iPhone 13Pro Max     $1,180     $1,131     $821

It’s important to keep in mind that pricing will vary by sale venue and the specific rules each platform has for its trade-in or recycle program. Every sales center may not honor the same guidelines, so it’s important to read up on the rules for the place or program you intend to utilize.

On what does the resale value of an iPhone depend?

It’s crucial to know what other factors can impact the resale value of your old phone before conducting your iPhone trade or sale. There are a few standard considerations to pay attention to as you plan to acquire a new device. The following sections provide details on the most common benchmarks used for iPhone valuation.

Model of phone 

Mac products are always hot property in tech. Nothing seems to grab the public’s attention more than a new iPhone. With that in mind, the sale of your old device will partly be determined by how old it is. 

The latest models of iPhones are worth more than older models. One key element is whether the iPhone in question is compatible with the latest iOS. iPhones that are too old to run the newest software or communicate with the latest networks tend not to be worth very much in the resale market.

Network carrier 

Every network carrier has its own iPhone trade-in program. If you are on AT&T, you might have different resale opportunities than if you are on Verizon or T-Mobile. Carriers run trade-in specials, have buy-back events, or offer other promotional sales that may impact the resale value of your old phone. 

One thing that is universal across all carriers is that an unlocked iPhone will be worth more. An unlocked device is one that has been opened to various carriers. These are desirable in the resale market because they are more versatile and it’s easier for buyers to get the phone situated on a new network. Remember that prepaid devices are linked to a specific carrier, so these will not typically arrive to a new owner unlocked.

Storage capacity 

Storage is a big consideration for most cell phone users. There are several established iPhone storage tiers, including 64 GB, 128 GB, 256 GB, and even 512 GB. The amount of storage available on your old phone will certainly raise or lower its resale value. 

Likewise, when buying a used phone, consider the other devices it will be linked to. Do you have an iPad, iPod, Apple Watch, MacBook, or iMac that will be sharing data or files with this phone? If so, this may call for a larger storage capacity and a higher-priced new device.

Condition 

Of course, the actual physical condition of any iPhone (even the latest model) will bear a huge part in determining that phone’s resale value. Even small dents, scratches, or other damage can deduct value. 

Here is the basic breakdown of what the term for each iPhone condition truly means:

How to check the resale value of an iPhone

You can know what you’re walking into with your iPhone resale by doing a little bit of homework ahead of time. Checking up on the TMK and visiting a few reliable sources for information helps you know what your iPhone should be worth. The following sections provide details on where to go for reliable information on your old phone’s value.

Look on Apple’s trade-in page 

Fortunately, Apple has thought of everything when it comes to selling your old phone. You can visit the Apple trade-in page and get a real-time quote on your old phone's worth. You can also bring the device into any Apple store and receive the same service. If you decide to upgrade, you can do it right there and receive store credit for your phone the same day. If you choose to do it via the website, you will need to mail your old device in.

Get a quote from a used phone seller 

Getting a quick and accurate quote on the worth of your old device is easy with most used-phone sellers. Most cell phone resale companies will offer you a quote immediately when you answer a few basic questions about your device. Here are a few of the most popular used phone sellers to check out:

Get a device certification report from Phonecheck 

Phonecheck is here to help when it’s time for a new iPhone. Our device certification report will help you assess the condition of your phone and give you an accurate resale value. Providing certification at the time of your sale or trade-in immediately increases the trust between buyer and seller and allows you to get rid of your old phone faster.

What is the best way to sell my iPhone?

The most important part of selling your old phone is doing the research ahead of time to find out what it should be worth. Finding the highest possible value for your phone before selling it ensures that you do not fall victim to predatory or underhanded offers, and allows you to plan for the new device you want. 

One of the best ways to ensure that you are getting a safe, honest deal is to include a Phonecheck certification in your transaction. With a Phonecheck certification, you can sell your phone with confidence and speed. A certification report positively impacts trust between yourself and the buyer. Avoid costly hidden problems by purchasing a history report on phonecheck.com for about the cost of a cup of coffee.

Get the highest resale value for your iPhone with Phonecheck

Phonecheck is here to make your iPhone trade-in or sale as smooth as possible. Don't buy a used device without a Phonecheck Certified History Report. This report will ensure the highest possible value for your old phone and let both you and the buyer conduct the sale transaction with confidence.

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