Countering Apple's upcoming trade-in program, Best Buy offers 50% off iPhone 5 for Labor Day

Posted:
in iPhone edited January 2014
This weekend, Best Buy will offer 50 percent off Apple's iPhone 5, a Labor Day trade-in offer arriving as Apple is expected to announce its own trade-in program in the company's retail stores.



From Friday, Aug. 30 through Monday, Sept. 2, Best Buy customers bringing in a working iPhone 4 or 4S can get a 16-gigabyte or 32-gigabyte iPhone 5 for at least half off of its regular price. The deal is contingent upon the activation of a two-year contract.

Customers opting for the 16-gigabyte iPhone 5 will receive at least a $100 trade-in credit toward the purchase, knocking the on-contract cost down to $100 for an AT&T, Sprint, or Verizon model. Those opting for the 32-gigabyte model will receive at least a $150 credit, knocking the on-contract cost to $150.

While the promotion does set a minimum discount, it is possible for customers to get more for their trade-ins, depending on the condition of their phones. If a customer's iPhone 4 or iPhone 4S is worth more than the guaranteed credit, that customer will receive the additional amount in the form of a Best Buy gift card.

In order to take advantage of the offer, customers must be eligible for an upgrade with their carrier and agree to a new two-year contract. Phones traded in must be able to power on, and they must be free from water damage and screen cracks. The offer is not applicable for iPhone 5 64-gigabyte models, T-Mobile, or no-contract iPhones.

Best Buy's announcement comes as Apple is said to be preparing its own trade-in program based out of its hundreds of retail stores across the U.S. That program will see Apple retail employees inspecting phones and having customers fill out questionnaires before the phone is assigned a value. Customers will then be given a gift card worth the estimated value of the phone, and that card must be used toward the purchase of a new iPhone if the customer is eligible for an upgrade from a selected carrier.

Apple has yet to confirm that such a program is in the offing, but multiple reports have the iPhone maker already training employees in the particulars of the trade-in service, possibly for a rollout in some stores as soon as this weekend. Apple CEO Tim Cook has not publicly dismissed the possibility of such an offer, and he said it could happen due to the way iPhones retain their value.

"The reason that [a trade-in program] is so attractive around an iPhone," Cook said in July, "is that the residual value of an iPhone stays so high. That makes the trade-in programs a win-win from many points of view. But we haven't announced anything."

Best Buy's Labor Day offer is different from other trade-in services such as Gazelle, which pays customers for their devices in cash, or Amazon, which offers a gift card in exchange. In addition, some such as Gazelle are offering customers the ability to lock-in a price on their trade-in, and ship it by Oct. 15 ? after Apple's new iPhones are expected to be announced. A complete list of online offers can be found in the AppleInsider Trade-In Guide.

Comments

  • Reply 1 of 17
    herbapouherbapou Posts: 2,227member
    Absolute garbage. you can sell a 16g iphone 4s for $250 on kijiji here in Montreal and you will receive like 50+ emails a few minutes after placing the ad. You can complete the sales in less than 2 hours, get paid cash.

    I will wait and see what Apple offer for old iphones, but I have the feeling it will be half the price of the second hand market at best. And I dont want a contract, I will buy an unlock phone.
  • Reply 2 of 17


    I can confirm that.  I sold my unlocked iPhone 4 for almost $300.  Sold in 48hrs cash.

  • Reply 3 of 17
    bloggerblogbloggerblog Posts: 2,003member
    $100 off is not 50% off, it's more like 17% off.
  • Reply 4 of 17
    herbapouherbapou Posts: 2,227member

    Quote:

    Originally Posted by bloggerblog View Post



    $100 off is not 50% off, it's more like 17% off.


     


    Thats because americans think the subsidize price is the price of the phone. They buy there phone on contract and end up paying 2 times the price of buying an unlock phone and paying a lower monthly fee.

  • Reply 5 of 17


    How is these deal is 50% off? The iphone is $649.99 for the 16gb.  if these mean 50% off the phone will cost $325 off contract. Only Crazy people will trade and sign two years contract.

  • Reply 6 of 17


    Yes if the iphone 50 percents off, the phone will only cost 345 dollars off contract.

  • Reply 7 of 17
    2old4fun2old4fun Posts: 236member


    Problem is, in America you pay the same monthly for contract phone as for customer supplied phone.

  • Reply 8 of 17


    AI editors, please correct the embarrassingly silly headline (see, e.g., posts #4 and #6).

  • Reply 9 of 17

    Quote:

    Originally Posted by 2old4fun View Post


    Problem is, in America you pay the same monthly for contract phone as for customer supplied phone.



    Just shut up and bend over...


     


    /s

  • Reply 10 of 17


    Or if you don't want to deal with eBay - sell it on Gazelle.com and get up to $125-130 for an iP4.

  • Reply 11 of 17
    focherfocher Posts: 676member
    Let's see. First, I would have to suffer going to Best Buy. Second, they will give me a fraction of what I can get selling the phone on eBay (actually, I sold two iPhone 4s factory unlocked at a recent garage sale for $300 each). Finally, I also get to overpay by signing a 2 year contract with an overpriced carrier.

    What a deal!
  • Reply 12 of 17
    I agree with some of what you say here. But I%u2019d like to hear a little about some of the other reputable players in the cell phone trade in industry who are smaller outfits but still deliver a equally positive customer experience to the seller. iPhonesIntoCash.com (http://iphonesintocash.com/ -- pricing grid is right on the homepage) is a niche player who, with much lower overhead, is able to offer higher prices for old or even broken iPhones. $320 in cash (NOT a store credit or a gift card) for an old iPhone 5 is the most competitive price is the industry and it%u2019s simply about being leaner; so iPhonesIntoCash.com is able to pass along a greater savings to the customer.
  • Reply 13 of 17


    I agree with some of what you say here. But I’d like to hear a little about some of the other reputable players in the cell phone trade in industry who are smaller outfits but still deliver a equally positive customer experience to the seller. iPhonesIntoCash.com (http://iphonesintocash.com/ -- pricing grid is right on the homepage) is a niche player who, with much lower overhead, is able to offer higher prices for old or even broken iPhones. $320 in cash (NOT a store credit or a gift card) for an old iPhone 5 is the most competitive price is the industry and it’s simply about being leaner; so iPhonesIntoCash.com is able to pass along a greater savings to the customer.

  • Reply 14 of 17
    wigbywigby Posts: 692member


    i think i missed the sarcasm.


     


    anyway this offer completely misses the point of trade-in. apple's trade-in program will let customers trade-in old phones for the newest phone. Best Buy is letting me trade in an old phone for what? another old phone?

  • Reply 15 of 17
    ipenipen Posts: 410member

    Quote:

    Originally Posted by Kong Pheng Thao View Post


    How is these deal is 50% off? The iphone is $649.99 for the 16gb.  if these mean 50% off the phone will cost $325 off contract. Only Crazy people will trade and sign two years contract.



     


    Why only crazy people will sign 2 yr contract?  If I'm happy with my current carrier and I see myself still using cell phone for the next 2 years.  Why not sign the contract?  The contract price was really good for me.  4 iphones  $100 per month with 1400 min. to share.

  • Reply 16 of 17
    hmmhmm Posts: 3,405member

    Quote:

    Originally Posted by herbapou View Post



    Absolute garbage. you can sell a 16g iphone 4s for $250 on kijiji here in Montreal and you will receive like 50+ emails a few minutes after placing the ad. You can complete the sales in less than 2 hours, get paid cash.



    I will wait and see what Apple offer for old iphones, but I have the feeling it will be half the price of the second hand market at best. And I dont want a contract, I will buy an unlock phone.


    Trade-in programs never offer retail value. While this one seems underwhelming, you can just choose not to use it.


    Quote:

    Originally Posted by herbapou View Post


     


    Thats because americans think the subsidize price is the price of the phone. They buy there phone on contract and end up paying 2 times the price of buying an unlock phone and paying a lower monthly fee.





    That's ridiculous. I've never met anyone who thought of it that way, nor have I seen any statistics suggest it. If they are tied to a plan that costs the same amount either way, it may affect the way the value they place on the phone. It can also affect the demand for used devices.

  • Reply 17 of 17
    fallenjtfallenjt Posts: 4,018member


    "From Friday, Aug. 30 through Monday, Sept. 2, Best Buy customers bringing in a working iPhone 4 or 4S can get a 16-gigabyte or 32-gigabyte iPhone 5 for at least half off of its regular price. The deal is contingent upon the activation of a two-year contract."


     


    Best Buy must be out of their fking brain or they think consumers are stupid. A working iPhone 4s is over $200 on Gazelle or Apple stores. Here is the stake: you give Best Buy your $200ish iPhone 4s and buy their iPhone 5 at $100 + 2 years contract. So you end up spending >$300 for iPhone 5 with 2 years contract. Why don't you just use that $200 to buy iPhone 5s 2 weeks from now with contract?


     


    Sell it on Ebay. You may get over $400 for it.

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