eBay today is launching a new program that aims to capitalize on the large number of older iPhones and other mobile devices poised to hit the resale market, thanks to the launch of the new iPhone 7 and iPhone 7 Plus models, announced last week. Called “Quick Sale,” the new program is powered by eBay Valet – the service where eBay pairs consumers with power sellers who handle the hassles involved with selling online for you, including taking photographs, writing the listing, handling payments and shipping the product to the buyer, among other things.
Starting today, consumers who want to find out what their old phone is worth can head to the Quick Sale website to get a quote. They’ll then receive an offer that’s based on details like the device brand, model, carrier, capacity, color and condition. If you choose to accept the offer, you can print out a free shopping label, then send the phone in to eBay Valet. Once the phone is received and verified, you’ll receive payment for the device – ahead of its eventual sale.
This entire process from shipping to payment takes about 7-10 days, which isn’t all that “quick,” to be honest. That’s because Valets receive the device about 5 days after you send your device to eBay, and then take 2 days to inspect it before sending a payment.
Of course, you’ll make more money if you decide to sell your phone yourself, as eBay Valets take a commission on sales. What’s interesting about the Quick Sale site is that it shows you the difference between what an eBay Valet offers, and what you can expect to make if you sell the phone yourself. It even will guarantee a minimum price, offering to pay you back with an eBay coupon for the difference if the device sells for less.
Plus, you can’t sell just any old phone via the Valet service. The power sellers won’t accept phones that are in poor condition, older model phones, or those phones worth less than $100.
The new Quick Sale site will also direct users how to prepare the device for resale by offering information on how to wipe the phone and reset it to factory settings.
eBay notes that sales of older phones peak around the time of new iPhone launches. Last year, eBay sellers were earning an average of $508 for iPhone 6 and 6 Plus models, following the announcement of the new iPhone 6s. This year, eBay says sellers anticipate earning $350 to $600 for the iPhone 6 and above.
Sellers are currently pulling in an average of $358 for the iPhone 6, $438 for the iPhone 6 Plus, $532 for the iPhone 6s, and $601 for the iPhone 6s Plus, to give you an idea of what the phones would be worth if you decide to sell it yourself.
In addition, eBay says smartphones are sold on its site every 4 seconds, due to its large community of 164 million buyers.