Wal-Mart made headlines today by announcing a new trade-in program for smartphones, an event that coincided with the unveiling of Apple’s latest iPhone. But while the big box giant may have the largest brick-and-mortar trade-in program in the U.S., it doesn’t necessarily offer the best deals. Consider: In the best-case scenario, Wal-Mart will offer you $300 for your used smartphone. However, it can also offer you as little as $50. Plus, either way, consumers can only earn store credit that goes toward buying another smartphone — at Wal-Mart.
On eBay however, as several reporters have noted, you could potentially sell your smartphone for as much as $430 — in cash. Consumers will get returns that they can spend anywhere they like!
“If we look back a month ago today, at the number of listings we had for iPhone 5’s, we can say that we have seen a 44% uptick in the number of iPhone 5’s for sale on the platform,” said Jeff Somers, vice president of eBay North America marketplaces, in an interview with CNBC. “[Consumers] are getting their items ready for sale on eBay so that they can trade-up or take advantage of new opportunities to move into a new phone by selling their phone on eBay.”
And don’t forget that with My Gadgets, you can track the value of all the electronics you own, to help you determine the right time to sell.
Watch the Squawk on the Street segment including the interview with Somers: