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The Market Demand
One of the biggest factors in determining how fast your iPhone will sell and for how much is the market demand. Market demand on the iPhone is always high, however, it is much higher in bigger cities.
Bigger markets also mean more competition. It is very important to make your iPhone appear more presentable, appealing and ready for the market, to ensure the quickest sale and highest price. Consumers in the iPhone market do not typically look for carrier locked iPhone's. Anybody can sign up for a contract and receive a very cheap carrier locked iPhone.
The market for unlocked iPhone's is very high. Jailbroken iPhone's also do well as compared to non-jailbroken. To accomplish the unlock, it is necessary to jailbreak. Therefore, unlocking your iPhone before attempting to sell it will not only bring a much quicker sale, but expand your potential market and raise the price point.
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There are a few measures you can take before putting your iPhone on the market. Following these steps will greatly increase the profit potential of your iPhone. These basic tips apply for all models of the iPhone from the 2G and 3G all the way up to the iPhone 4.
- Condition your iPhone. Determine the fair condition of your iPhone. Are there scratches, dents or dings? Damage to the screen will especially harm the value of the iPhone.
- Replace broken parts. Replace any broken part on the iPhone. Headphone jacks, dock connectors, cameras, etc. Replacement iPhone parts can be purchased cheaply and will increase the value of the iPhone. Replace the screen if there are a large number of scratches.
- Update the firmware. Buyers will want the latest iPhone firmware. Update to the latest available firmware, which is still safe to jailbreak. Sometimes the latest firmware is not capable of being jailbroken upon release. Determine the highest version firmware which can be jailbroken and update.
- Jailbreak the iPhone. Jailbreak the iPhone to get the most for your money. Buyers look specifically for jailbroken iPhone's. The simple process will take less than an hour and can increase the value by as much as $100.
- Unlock the iPhone. Carrier locked phones are very hard to sell. Should you find a buyer who wants your AT&T locked iPhone, expect to get very little out of it. Unlocking the iPhone is a simple process once it is jailbroken, and will double the value (at least).
- Include software. Download a few games or any other type of app. Pre-loading the latest software will increase the value for potential buyers.
- Include extras. Including extras such as a travel charger, the original box and a case will increase the value. Selling everything as a package and listing it with extras can increase the price by as much as ten to fifteen percent.
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Finding The Perfect Market
Determining where to sell your iPhone can make a big difference to the price. Choosing a local market can be wise, if you live in a larger city or a semi-wealthy community. If your local community is not the ideal place to sell the iPhone, it may be wise to choose a much larger market via the internet.
Using an internet auction or marketing site is typically not free. They require a small commission fee which will cut into your profit.
However, it may still be beneficial if you need to sell the iPhone in a hurry and you may also get a slightly better price if your iPhone is in good condition. Choosing a local market first is usually best, fall back on the internet market.
- Craigslist. Post your iPhone on Craigslist for the largest city close to you. Always include pictures and note all the features included. Take extra care to mention it is jailbroken and unlocked (assuming you followed the above section). Ask a reasonable price and always set it about twenty-five dollars higher than what you actually hope to get out of the iPhone sale.
- eBay. This is probably the best place to sell anything, an iPhone included. The major advantage to eBay is the sheer size of the market. eBay is an almost guaranteed sale, however, the price may not be what you expect. Due to the large amount of competition on eBay, it is hard to put a high price point. You may still get a fair price if your iPhone is in good condition.
- Amazon. This is a market similar to eBay but with more price potential. Listing the iPhone as unlocked and jailbroken with extras, will fetch a fair price on Amazon. If your iPhone is in good condition, it will have much more potential on Amazon.
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The aforementioned sources are the best places to sell your iPhone. Following the simple tips outlined in this guide, you will increase the profit from your iPhone, while decreasing the time it takes to sell it.
Selling an iPhone sooner rather than later is always better. The iPhone 2G and 3G hold a much lesser value due to the lack of new features with firmware releases from Apple. The iPhone 3GS and iPhone 4 have the highest value, and as time goes on, the latest model will always be the most expensive.