Apple Announces Less Money for iPhone Buybacks

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Apple Announces Less Money for iPhone Buybacks

July 9, 2014 No comments

Apple is giving you less money for your iPhone buybacks.

iPhone buybacksIf you’re looking to sell your iPhone for a hefty profit, you’ll likely be sorely disappointed by Apple’s latest move. The mobile device powerhouse recently dropped in-store trade-in values for its iPhone Reuse and Recycling Program in the U.S. and Canada. As much as $45 was trimmed from the buyback value of older iPhone models, such as the iPhone 5.

For people keen to recycle their old iPhones, Apple’s new pricing limit for iPhones is $225. Formerly, the uppermost trade-in value was about $270. Sorry, sellers. You just got whacked with a $35 plunge.

There’s an interesting wrinkle to this new pricing policy. While in-store payouts have dropped, people selling iPhones are fetching higher prices at Apple’s online Reuse and Recycling site. For instance, if you’re recycling an iPhone 5 in decent condition, the online destination can drop up to $255 into your pocket. This is not unusual. The site is showing a substantial number of buybacks at this price point. So why the difference between online and in-store rates? Overhead could be one reason. Somebody has to help cover those in-store costs. And guess who’s been elected.

If you want to sell your iPhone 5s to Apple, you’ll be waiting a few months. The company is not yet accepting trade-ins for this model. Rumor has it that Apple will open its doors to the 5s sometime this fall.

What a difference a few years makes. Way back in August of 2012, people who wanted to trade in their old iPhones could receive as much as $345 for an iPhone 4s through Apple’s ‘Reuse and Recycling’ program.

Of course, you do have other choices. And when you do decide, “I want to sell my iPhone or recycle my iPhone”, be sure to choose the leader in iPhone buybacks, restoration and recycling - ePelican. Contact ePelican today to find out how you can get the most cash and the most satisfaction out of selling or recycling your old phone.

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