The iPhone 5S releases on September 20th and the first thing on the minds of several users (of iPhone 5) is this: can I trade my iPhone 5 for an iPhone 5S?
Upgrading to the latest iPhone when you are in a contract has never been an easy task unless your contract is expiring right on time. Well, the service providers will disagree with that but we all know how complicated it can get.
But as CBSNews puts it, you can actually trade-in your iPhone 5 (if it's unlocked, the better) for a new iPhone 5S. Off-the-contract iPhone 5 will be an easier thing to deal with while turning-in your old iPhone 5 can prove to be costly and a little tedious what with all the formalities and rules of the carrier to deal with.
Where: Apple Store, Carriers, WalMart, Amazon, Best Buy.
Turning in your iPhone 5 to your carrier will fetch you anywhere from $250 to nothing depending on what time of the contract you are in. This depends and varies according to carriers and retailers.
Apple's own recycling program is a great place to look. An iPhone 5 can fetch as much as $300 but one has to note that Apple is dropping iPhone 5 line which could affect the price.
Selling it Elsewhere
Where: Flipsy, EcycleBest, Craigslist
If you own an unlocked iPhone 5, you are probably free to sell it anywhere and get the best price. While the fact that Apple's making iPhone 5 obsolete might reduce the value of the device, it should be countered by the number of people waiting to get their hands on an iPhone 5. The iPhone 5C, even though as good as iPhone 5, will never be sold for $300 or so till at least 2-3 months after its release.
We have our own favorite spots where you can sell your iPhone 5:
Depending on your negotiation and the condition of your iPhone 5, you might score as much as $400 for your device. You'll still be short by about $250.
Unlock and Sell
Where: Same as above
You can obviously unlock your iPhone 5 even if it's under-contract (unless it's not bought after January 2013). We can't point you to unlock methods but you know Google and you know YouTube and that's the key to finding out how to unlock your iPhone 5. We're not fans of the Library of Congress ruling on unlocking either.
You can sell your iPhone 5 in the sources mentioned above. It can fetch you up to $400-$500 depending on the condition of the iPhone 5.