Apple’s highly anticipated iPhone 15 has just been unveiled, causing excitement among gadget fans.
Many will be keen to get their hands on one, but from £799 the new technology will cost you a pretty penny.
One in ten Brits say they are willing to spend €799 for the new iPhone 15, according to research by the trade-in website Mazuma.
If that sounds too expensive, trading in or selling your existing phone can help reduce costs.
But how much can you get for an old phone, and where is the best place to sell it?
Apple’s iPhone 15 costs £799, but if you trade in an old phone you can get anything between £85 and £675 for it – meaning you can bag the new iPhone for just £125.
Where can you sell a used phone?
There are some tech resale companies that will buy your old phone even if it is old or damaged, but you will get less if it is.
In fact, someone could pay as little as £125 for the brand new iPhone 15 if they had an iPhone 14 in optimal condition to trade in, Mazuma said, as it could be worth up to £625. However, an older or damaged model can only be sold for £85.
A new launch can cause older models to quickly lose value, so time is of the essence for those looking for the best price.
Sites where you can sell phones include Music Magpie, We Buy Any Phone, Mazuma and Envirofone. You can also list your old iPhone on eBay or Facebook Marketplace and handle the sale yourself.
How much does an old iPhone or Samsung cost?
The most popular phones in Britain among all adults are the Samsung Galaxy S10+ and the iPhone 12 according to You Gov.
We’ve looked at how much you can get when you trade in one of these phones on various sites and retailers.
How much you get when you trade in a phone with one of the trade-in websites depends on whether your phone is connected to a network or ‘unlocked’, i.e. not linked to a specific carrier and can be used on any network .
Apple
If you buy an iPhone 15 directly from Apple, there is an option to trade in an older iPhone to get cash back from the iPhone 15.
You can get up to £230 if you trade in a 256GB iPhone 12, or if you have a newer model iPhone you can get up to £460 off the iPhone 15.
We buy every phone
If you were to trade in an iPhone 12 – which was in good condition and still had the box it came in – you’d get £337.
A newer iPhone 14 would retail for as much as £541.
Despite the name, the site doesn’t have an option to sell a Samsung Galaxy S10+, but a Samsung Galaxy S23 in good condition would fetch £384 for a trade-in.
If you have an old device lying around, We Buy Any Phone will give you an extra €5 for a second phone if it costs more than €50.
MusicMagpie
Music Magpie is offering up to £335 for an iPhone 12 if it’s unlocked. If the phone is connected to a network, you can get between €232 and €255. For an iPhone 14 this rises to £500.
You can trade in a Samsung Galaxy S10+ for between £89 and £105, depending on whether it’s networked or unlocked.
You can also buy a Music Magpie phone on Ebay.
Envirofone
If you sell an iPhone 12 on Envirofone, you can earn up to $325 if it’s unlocked, or $305 if it’s connected to a network. A newer iPhone 14 would be priced at £500, meaning you could get the new iPhone 15 for £299.
You can get up to £75 for a Samsung Galaxy S10+, while the Galaxy S23 can get up to £500.
Envirofone does not charge different prices for a locked or unlocked phone.
Mazuma
Mazuma will give you up to £315 for an iPhone 12, depending on the condition it’s in and whether it’s unlocked. This drops to £305 if connected to a network.
If you were to trade in an iPhone 14 Pro Max, 128GB, unlocked and in excellent condition, it would be worth £675 at Mazuma, meaning you could get the iPhone 15 for £125.
A Samsung Galaxy S10+ would set you back up to £95 unlocked and £85 if connected to a network. While the more expensive Samsung Galaxy S23 could be worth up to £450 for a trade-in if unlocked or £440 with a network.
eBay and Facebook Marketplace
On the online marketplaces Ebay and Facebook Marketplace you can list your old phone and determine your asking price.
You may get more for it than a tech resale company, but it comes with more hassle as you have to create the listing and find a buyer yourself, as well as pay seller fees.
Unlike selling to a resale website, you will also need to make sure that you erase all your data from the phone yourself.
You should be very wary of a wave of cell phone scams on the Facebook marketplace if you buy a phone there.
Craig Smith, managing director of trade-in website Mazuma, said: ‘The large number of Brits looking to upgrade their phones this month equates to a significant number of phones becoming unwanted.
‘Rather than letting them collect dust and lose value in the back of a drawer, consumers can make big money by safely trading in their old, unwanted devices. This is not only good for their wallets, but also for the planet, ensuring that all data is erased safely and effectively.”
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