How to Check iPhone Trade-In Value

With the annual release of new iPhone models, older ones quickly become outdated, making them ideal candidates for trade-in as an old device. However, the quality of such devices is still pretty high, and so is customer demand. Therefore, customers can trade in pre-owned iPhones and get a good deal. But how to estimate the value of second-hand Apple phones? In this article, we will help you to set the right price for an old iPhone.

Not all iPhone models are profitable for used device businesses. Read our blog post on obsolete and vintage iPhones to increase the profitability of your inventory.

What is the Trade-In Value for an iPhone?

The iPhone's trade-in value depends on several factors, some of which are subjective, leading to inconsistent and often controversial pricing.

The crucial factors are the phone's model and age. The demand for iPhones hugely depends on these parameters, affecting the overall trade-in price.

Device condition is also a factor to consider. If an iPhone is in poor cosmetic and functional condition, you'll need to invest time and money to make it attractive to customers. It means a longer turnover rate and lower profits. At the same time, old iPhone models in good condition can still make a good trade-in deal.

The trade-in price varies the most depending on the buyer. Apple Store offers a trade-in program that allows customers to sell old phones in exchange for a discount on a new device or a gift card. For example, a trade-in credit from selling an old iPhone SE can be used to purchase a new Apple Watch. Although this service can be convenient for clients, its prices are way lower compared to those offered by third parties. 

It creates an opportunity for other businesses to make good deals on trading in pre-owned iPhones. You just need to provide higher prices than Apple Trade-In while ensuring consistent device testing and grading.

Reeva, the unique device processing robot, is the best option for your store. It entices more customers to your store and performs testing, grading, pricing, and wiping in less than five minutes! Moreover, you can set pricing parameters yourself using flexible price calculators.

But if you want to set pricing algorithms correctly, you need to know the prices of other trade-in providers. We have collected data from our clients' deals to see at what prices pre-owned iPhones are usually traded.

iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max

These iPhone models were released in 2019 and are now less popular in the new device market. However, their reliability keeps pre-owned options in high demand. Although it doesn't differ significantly from its predecessor, the iPhone XR, the iPhone 11 has several hardware improvements.

These models are based on the A13 Bionic chip, which offers faster performance and reduces power consumption. Moreover, the iPhone 11 has more profound cameras, including an automatic night mode, an ultra-wide camera, a Deep Fusion feature, etc.

In the table, we have collected minimal, maximal, and average estimated trade-in prices for iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max, depending on their storage options and buyers. 

How to Optimize iPhone Trade-In Deals?

As you can see in the tables, prices on Apple devices vary significantly, depending on the factors mentioned above. Therefore, it is crucial to accurately estimate device trade-in value to make your deals profitable. How can you perform testing and grading before purchasing a device? We have collected a list of options to help you get the most out of the buyback deals:

• Perform IMEI checks. It will show whether the device has been blocked, stolen, lost or has financial debt.
• Choose consistent and easy-to-implement grading solutions. Manual grading is always subjective and has a high risk of human errors and fraud. Thus, use software or robotic testing to estimate devices effectively.
• Provide fair pricing. The prices you offer should be profitable for you while remaining attractive to customers.

Additionally, these steps should be done quickly. Performing all of the tests manually makes time-spending unpredictable and inconsistent.

Implement Reeva, the robot by NSYS Group, to process device purchases in less than 5 minutes! Reeva performs over 50 tests to detect over 100 hardware defects, accurately grades devices using an AI-powered solution, and estimates trade-in value based on your pricing matrix. Try robotic testing to boost your trade-ins!