How to get the most money for your old iPhone

With the impending launch of the iPhone 6 you might be wondering what to do with your old device. Don't let your old iPhone depreciate while it sits on a shelf, here's how to sell it for top dollar.

eBay sell your iPhone quote for an iPhone 5s: $559 - Jason O'Grady
(Screenshot: eBay Inc.)

All my Apple devices are on the family hand-me-down plan. This means that when I get a new iPhone, my previous one goes to my wife, hers goes to one of our kids, etc. Many people decide to sell their old iron to a friend or co-worker in need of a technology upgrade, but if you're not in one of these camps, there are plenty of ways to sell your old iPhone for cold hard cash.

Get the most money for your old iPhone by letting your fingers do the walking. It's easy to shop for offers the major sites that buy iPhones. Here are the quotes I received for an iPhone 5s (64GB, Gold, AT&T, unlocked) in "good" condition when I shopped around today, September 9, 2014 (in the hour before the Apple keynote):

*The eBay quote of "up to" $559 is a price recommendation and not the same as the others which offer guaranteed cash. eBay sell prices are theoretically obtainable by listing an iPhone with a Buy It Now price that falls within eBay's pricing guidelines.

If you're going to purchase an iPhone 6 – and sell your current iPhone – you should obtain a quote from one of the vendors above ASAP because it costs you nothing to lock in your trade-in price now. There's literally nothing to lose. Waiting, however, can cost you dearly. Last year noted that used iPhone prices drop 20 percent after an announcement.

If you're going to sell your old iPhone, lock in your offer price now. Amazon requests that you mail your device in within a week (although its policy allows up to 25 days), but Gazelle and NextWorth offer a more generous 30-day mail-in window.

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