Gazelle locking in iPhone trade-in prices through August 31

Consumer electronics trade-in site has extended its 30-day price lock program to help customers get the new iPhone 5. If you trade-in your iPhone to Gazelle by August 31 you'll have until October 1 to send it in.

Gazelle locking-in iPhone trade-in prices through August 31 - Jason O'Grady

If you're planning on purchasing the next iPhone (which is rumored to be announced on September 12 ) and haven't found a home yet for your current iPhone, listen up. 

Gazelle, the nation’s leading high-end consumer electronics trade-in site, will buy your old gadgets so that you can have cash to buy new gadgets. (Our own Matt Miller just sold his old original iPhone to Gazelle and Jason Perlow used the service last year while lusting after an iPad 2).

The problem is that the rumored iPhone launch date is just that, a rumor. The other problem is that prices of current gadgets drop precipitously in the weeks and days leading up to the launch of a hot new gadget. The average selling price of an original iPad dropped about 25 percent (as much as $100) on eBay between February and April 2011 after the iPad 2 was announced and went on sale. 

The iPhone 4 or 4S in your pocket is literally depreciating by the minute, like the moment you drive a new car off the dealer's lot. 

A new Gazelle program allows you to take full advantage of the highly-anticipated iPhone 5 without taking a 25 percent hit in the process. If you pledge to trade-in your current iPhone to Gazelle before August 31 you'll have until October 1 to send in your phone. This allows you to get pre-launch values for your used iPhone while continuing to use it until the new model is available (rumored to be September 21.)

To take advantage of the extended price lock, simply go to, select “iPhone,” tell us what model and carrier you have, and the condition of your phone. We’ll quote you a price and send you shipping materials for free. If we get your old iPhone by October 1, we’ll send you cash.

This is the first time Gazelle has extended its normally 30-day price guarantee, and, according to CNET, there are no plans to repeat this offer for iPad sellers. "People can do without their iPad or tablet for a month, two months," Scarsella said. "People don't want to be without their phone."

At press time, an iPhone 4S 32GB in good condition on AT&T was getting $300 on Gazelle, while an iPhone 4 32GB in good condition was fetching $180. These are certain to drop after the end of the month. If you're definitely going to upgrade to the new iPhone and haven't already found a home for your current model (i.e. with a spouse or family member), it makes sense to lock in a good price now -- while you still can.

What are you going to do with your current iPhone when the new model comes out?

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