How To Get The Most For Your Old IPhone

With Apple expected to release the iPhone 5. in September, fans are wondering what they can get for their current iPhones. Here's a guide.

Of course those with an iPhone 4S, which debuted last October, will reap far more for their devices than older versions, which will take the sting out of the penalty for breaking their contracts early with AT&T or Verizon Wireless. But prices for all recent models vary greatly, and it pays to shop around.

IPhone 4S buyers who signed a two-year service agreement are still under contract, which has significant implications for those who want to upgrade. AT&T charges a $325 early-termination fee for iPhone owners, minus $10 for each month of service completed. Verizon Wireless' fee is $350.

Apple's Offer

That aside, the iPhone 4S has significant resale value. Assuming the device is mint, Apple will give you a $285 to $345 store card, depending on storage capacity, for your 4S.

Apple’s prices drop considerably for the iPhone 4 and 3GS. The 4 nets $185 to $155, and the 3GS is worth $105 to $80.

Sell on EBay

People also can sell their phones on eBay, where an unlocked iPhone 4S 64 GB model is fetching as much as $950. Other models with less capacity are selling for $200 to $400 less.

EBay prices for the iPhone 4 range $340 to $540 for an unlocked phone. IPhone 3GS’s run $140 to $400 for an unlocked model.

Buy-Back Sites

If trading on eBay is too much of a hassle, there are sites willing to pay cash for iPhones. Gazelle will pay $287 to $313 for the iPhone 4S configured for AT&T. Verizon Wireless and Sprint phones are a few dollars less. Prices for the iPhone 4 range $141 to $165 and the iPhone 3GS runs $53 to $70.

NextWorth buys iPhones for $10 to $20 more than Gazelle.

USell, an aggregator, lists sites that buy and what they are paying. For example, USell recently reported that a 64 GB iPhone 4S can fetch $321 on Trade2save and $152 on GizmoTrader.

Buy And Sell At RadioShack

Finally, RadioShack sells iPhones and takes trade-ins. Depending on storage capacity, the retailer pays as much as $300 for the iPhone 4S, $180 for the iPhone 4 and $82 for the iPhone 3GS.