UPDATE: Due to the backorders of iPhone 5s delaying shipment for many who pre-ordered, Gazelle has extended the lock in period an addition 10 days. Users will now have until October 10th to send in their trade-ins and still receive their locked in value.
Online Trade-In Site will Give Highest Value until October 1st
By James DeRuvo (doddleNEWS)
Gazelle.com, the consumer electronics trade-in site that offers to pay for your old gadgetry is extending their 30-day lock in value to October 1st, giving wannabee iPhone 5 owners extra time to get their new Jesus phone. The trick is, you have to complete your trade in by August 31st. Here’s the breakdown…
Gazelle will rank the worth of your iPhone based on a few criteria which include the model, the carrier it’s tied to, what shape it’s in, if you have the original box and accessories, and even the manual. Then, it’ll give you a standard market place which will may go up or down depending on the verification of it’s condition. Gazelle locks in that price, too, so that if the market rate goes down, you don’t lose that value. The lock-in window is usually 30 days, but because of the rumored shipping date of the iPhone 5 is in mid September, Gazelle is extending that window to October 1st. But as stated, you have to lock in your trade-in by August 31st.
Once you’ve done that, Gazelle will send you a postage paid shipping container to send it in. After they’ve verified your details, they send you the check, an Amazon gift card, or even payment via PayPal. It’s that simple. And they’ll even offer a free data wipe so you don’t have to worry about your contacts and login information being co-opted. And here’s the real cool part. Gazelle has been known to send even more than the locked in rate if they find that it’s in better condition than you state.
Currently, the top market value of an 32 GB iPhone 4S with normal wear and tear is about $300, while an iPhone 4 is about $180. If Apple keeps to it’s tradition of not raising the price of a new model, then you can figure you’ll have plenty to cover the new iPhone 5 (with a two year contract) or pretty close to it. But you have to strike while the iron is hot. According to Scarsella, the peak for iPhone value has already happened. And as the price drops it could be as much as 20%-25% less or more. Scarsella says a 32GB 4S could end up only fetching $100 by the time the iPhone 5 is announced. So the longer you wait, the less it’s worth. So don’t “doddle.” (Editor’s Note: James told me this earlier, before he wrote it, and I locked in my price!)
But because of the extended window, you can continue to use your older iPhone until October 1st, by which you have to have sent it to them. And then it usually takes up to a week to send out your check, gift card or paypal payment. So it’s pretty quick. Then again, if everyone does it, you may want to add a week to that window just in case.
And Gazelle doesn’t do just iPhones. They do iPads, iPods, MacBooks, iMacs, and even other brand smartphones and tablets. But the extension window is only good on iPhones. “People can do without their iPad or tablet for a month, two months,” Scarsella said. “People don’t want to be without their phone.”