The annual iPhone frenzy is under way, with the iPhone 5s and 5c going on sale this morning. As always, there’s breathless reporting on the lines outside Apple Stores: 1,400 people were counted on Manhattan’s Fifth Avenue, allegedly a near-doubling of last year’s Midtown line. New for this year’s iPhone refresh is the added intrigue of dueling models, prompting new questions: Is Apple manipulating supply to drive people towards the 5c? Can anyone find a golden iPhone?
Another incentive for the iPhone-seeking hordes: big, new buyers for their aging devices. Apple (AAPL) Stores and Wal-Mart (WMT) are launching programs to buy back old phones, alongside the existing players in the resale market. Looking to upgrade? Here’s what you’ll get for older phones—although you may have to wait a while before you get your hands on a new one.
Prices below are for 16 GB iPhones in good working condition and compatible with Verizon’s network.
Trade-In Value: iPhone 5 — $285 | iPhone 4s — $150
Payment Method: Apple gift card
Trade-in Value: A customer service representative at an Apple Store couldn’t give a range for in-store iPhones trade-ins, citing the factors that go into the evaluation.
Payment Method: Credit toward a new iPhone with a contract
Trade-In Value: iPhone 5 — $300| iPhone 4s — $162.50
Payment Method: Wal-Mart gift card
Wal-Mart (In Person)
Trade-In Value: Like Apple, Wal-Mart couldn’t give price quotes on what it would pay for used devices.
Payment Method: Credit toward a new phone with a contract
Trade-In Value: iPhone 5 — $310 | iPhone 4s $160
Payment Method: Cash
Trade-In Value: iPhone 5 — $305 | iPhone 4s — $155
Payment Method: Cash
