Today, we learned a bit about Verizon’s trade-in program which is meant to entice users to switch carriers by “selling” their handset to Verizon for a lot less than it’s worth.
How much less? Well, we read that they are willing to pay a meager $212 for a 16GB iPhone 4. Which is normally purchased for $199 with a two year contract, or $599, sans-contract. Hardly seems like a deal at all. Sure, it’s a bit used, but it was still a major investment.
$212 you say? Wow. An 8GB iPhone 3G can fetch you near that much on Ebay:
That same phone will get you about enough to buy you and your significant other a meal at the Outback Steakhouse with the trade-in offer:
While a 16GB 3GS right now is going for much more than $212:
Let’s see what a similar 3GS will get you as a trade-in (Note: 16GB Model was no longer an option):
The same amount as a 3G. Well that’s a bit of a letdown for anyone looking to switch to Verizon.
What’s an iPhone 4 get you?
$212. But wait a second…That’s a 32GB iPhone. Let us get this straight: The iPhone 4 16GB is traded in at the same value as the 32GB? Just a little over $200? What’s Ebay have to say about this?
Okay, those are nice, but are people paying for it?
$560 for an iPhone 4 32GB. But lets even it out a little bit. In all fairness this is an item that’s being described as “New.”
Verizon is taking back a used phone.
Well it looks like an unlocked jailbroken 16GB iPhone 4 will pull in about $700. This may go up a bit, because we are sure that someone will throw in that last bid as they try to snatch it up for themselves. Still, that item has 15 bids on it, so someone is coming out of this with an extra $700 in their pocket, even if they decided to play it nice and pay for the shipping.
What’s our take?
Looks like trade-in programs are crap. Ebay buyers are always willing to shell out some cash for something they want. The nice part is knowing that you sold your iPhone to someone who wanted it rather than a company that just wanted to talk you out of your current cellular provider.