How to get money for your old iPhone, smartphone

CHICAGO (WLS) -- Apple is expected to release sales numbers Monday after the release of the iPhone 6 and iPhone 6 Plus. Judging by lines and a record number of preorders, the numbers will be big.

The market for old cell phones is booming, and some users are looking to trade in their current hardware. If you bought a new phone over the weekend - or plan to do so later - we have help.

Tech expert Brad Spirrison is managing editor of Appolicious, Inc. He explained how to get money for your old phone.

Who's Buying old iPhones/Smartphones?
Major Carriers (Verizon, T-Mobile, Sprint, AT&T)
-Most aggressive as they are competing for cellular business. Much more so than in previous releases
-$300+ back toward new phone. These prices will likely hold for longer.

E-Commerce Sites (Prices dependent on market, but falling quickly)
-eBay best for cash, Amazon best for gift card.
-Craig's List
-Smaller consumer tech focused sites:
www.usell.com
www.ecoatm.com
www.gazelle.com
www.nextworth.com

Apple
-In my experience offers the least. Has to be in or close to mint condition. Gift card, no cash.

Before you sell
-Erase All Data on the Phone (Settings/General/Reset/Erase All Content and Settings)
-Back up pictures, videos, etc. you want to save (iCloud, computer, online storage services)
-Contact your carrier about transferring device to new owner

Don't wait!
-Two weeks after launch, old iPhones lose 11 percent. 6 weeks close to 20
-You won't get much for models older than 4S (new operating system won't work)
-App, music and other iTunes purchases will be honored at no extra cost on new devices.
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