HOUSTON – The iPhone 6 is officially here. Thousands of Houstonians lined up in the rain to get one Friday. That means a lot of older phones are sitting around gathering dust, but there are ways to quickly turn that old smartphone into cash.
Bill Hendrix owns a cellphone trade-in business and said he has seen it before: A new phone model is launched and hours later his store is swamped with customers.
"We're going to get hit with a flood of people," Hendrix said. "People will literally walk in, stumble over the curb, almost go through the glass because they're playing with their new phone."
Hendrix specializes in buying and selling used phones and the No. 1 question he gets asked is "What is my phone worth?" The answer is, it depends.
"The phones themselves have turned into a commodity. It's all based upon supply and demand, which changes and fluctuates your entire price," Hendrix explained.
Hendrix said prices change daily, but he usually pays out between $40 and $100 for most used phones.
"If it's cracked it's going to decrease the value. If it's scratched it's going to decrease the value," he said.
Whether it's an LG, iPhone, Samsung or Sony, condition and carrier are the two biggest determining factors. Phones registered with AT&T or T-Mobile have the biggest resale value because they can be transferred to other providers.
"It's the carrier, because that's what people want. Because of the versatility that is available in these phones and those two carriers happen to have it," said Hendrix. "They're the ones everyone wants."
Hendrix has this advice to get the most for your used phone:
1. Clean it and fully charge the battery.
2. Remove the phone from your account.
3. Bring in a copy of your account to prove nothing is owed on it.
4. For security, do a factory reset, remembering to remove the SD and SIM cards on Samsung phones.
And lastly, do your research and deal with a reputable buyer. If you're dealing online, be wary of the fine print.
"I've never known one person, ever, to send in a phone to an online store and get what it actually was quoted," Hendrix warned.
Even if you decide it's just not worth it to sell your old phone, you should never just throw it away. Out-of-date phones can be recycled. Click here to visit the city of Houston's electronics recycling program.