7 On Your Side: How to cut the price of the new iPhone in half

Nina Pineda Image
Wednesday, September 13, 2017
7 On Your Side: Selling your old iPhone
Nina Pineda has tips you need to know if you're going to sell your old phone ahead of the iPhone X release

NEW YORK (WABC) -- With its all-screen front, sharpest ever retina display, plus a fun ani-emoji feature, the iPhone X starts at $999. But you can get your hands on the latest and greatest gadget for less, by first checking the phone in your hand already.

First - we tried to get the best price on my Iphone 7, starting with an in-store visit to Game Stop to have it examined.

Newer phones with more memory mean more value. Next, condition is key. Despite slight scratches, one an iPhone 7 fetched $400.

Then, try and beat that offer, online. You could sell to the highest bidder on eBay or take the highest offer on any number of websites. Just deal with a reputable one.

"I think it's always good to do some online shopping compare and choose the one your trust the most," said YanYan Ji, Gazelle.com. Ji says beware of quotes which promise trade-in values way over others.

Gazelle offered $360 for 7 On Your Side's phone if condition is flawless, $325 in good condition.

She advises resellers to be honest when assessing their device, and make sure you have the option to reject the buyer's offer and get your tech returned.

"If you say no, I want my phone, we're happy to send your phone back," Ji said.

You can also sell directly to someone. Facebook Marketplace connects you to buyers in your social network. Letgo finds buyers in your neighborhood. Just make sure to meet in a safe public place for the exchange.

Before parting with your phone, do some housekeeping to protect your personal info.

"Always do a factory reset. Disconnect "Find My iPhone" and disconnect from the cloud," Ji said.

And the most important tip, when you decide to sell your phone, don't delay.

"Don't wait don't, put it in your drawer, the longer you wait the value will only decrease," Ji said.

Some more big takeaways: It pays to be patient, the tech cycle is so fast, look into buying older - and cheaper - models. The iPhone 6S goes for about $450, less than half the new iPhone X.

Check out refurbished phones. It can be a little risky, so make sure you get a warranty. Apple typically has a one-year warranty. Some phone carriers warranties last just 90 days.

You can also donate your old phone for recycling. You won't get money but you will help the environment. Always make sure you wipe your phone clean before parting ways.