When Should I Sell My iPhone 4 to Upgrade to the iPhone 5?

I was more than happy to pay for my iPhone 4, but decided that there weren’t enough new features in the iPhone 4 S so I passed on that upgrade. Now, the new iPhone is coming out (not technically the 5th generation iPhone, so it’s simply ‘the new iPhone’) and I am eligible for an upgrade at a reduced cost, so I’m planning on taking advantage.

The last time I upgraded my iPhone, I was able to make quite a bit of money from it. I sold my iPhone 3G S on Craigslist for about $300 and used that money to pay for the price of the discounted iPhone, $200.

Now that I know I’m going to upgrade, I need to decide what to do with my current iPhone 4. My phone is in amazing condition, I’ve had a case and a screen protector on it at all times, so it is literally scratch-free. Here are my options:

  • Do what I did last time and sell it after I get the new phone.
  • Sell it now for a higher price, but live without an iPhone for a few weeks.

It sounds really inviting to maximize how much I’ll get back by selling it now, but not having an iPhone for more than an hour defeats the whole purpose of having an iPhone to begin with. I want it with me at all times.

Since this isn’t only one update old (many people will be selling the iPhone 4 S when they upgrade to the new iPhone, so I’ll be competing with them trying to sell an older produce.

Right now, I think I could get $300 for my phone, while if I wait, I’m guessing I’ll be able to sell it for about $250. I assume that the new phone will cost $200 like all the old ones, so really it’s a difference between $50 and $100 in profit.

Either way I’m coming out ahead and just the thought of not having an iPhone makes me a little anxious, so hopefully I’ll be able to pocket $50 and upgrade to a new phone as well.

Readers, are you upgrading to the new iPhone? What would you do if you were in my position?

5 Responses to When Should I Sell My iPhone 4 to Upgrade to the iPhone 5?

  1. Michelle says:

    My phone right now isn’t the greatest, and I am holding out for the 5. If I were you, I think I’d get the 5 as well :)

  2. I have a samsung galaxy 2 Skyrocket and am plenty happy with it. I’ve never been much of an Apple fan though. Sounds like you should definitely wait to sell your phone until you get a new one even if it does cost you a few bucks.

  3. Jason Price says:

    Daniel, I too am an iPhone lover. I have the older iPhone 4 and couldn’t think about parting with it while waiting on the iPhone 5 to come out. Seems smart to make some money back by selling it but guess Apple has me as I’ll just wait until I replace my current version with a new one before I sell.

  4. Darrell says:

    I already booked a quote from Gazelle.com last week. It was $350 for my 64GB AT&T iPhone 4S. Now it’s $313. You have until October 1st to return it and no obligation. Prices are dropping like a rock.

  5. Robert says:

    It is true that new iPhone 5 has some classy features, but upgrading 4S to 5 isn’t something good. By the time, you upgrade and start using it for few months, there would be another iPhone 6 model. I didn’t mean here not to upgrade, but somehow I don’t like that concept.

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