Making money off your old iPhone - Saving with 6abc

With the new iPhones now on the market, the rush is on to sell old phones.

Dan Ackerman, a senior editor at the tech website CNET, was searching for quotes to show what some websites are willing to pay you for your old phone.

He was able to get a few quotes for the 16-gigabyte AT&T models of the iPhone 5 and 5-S.

In "good" condition, Gazelle.com offers as much as $240 cash.

Usell.com offers up to $250 cash and Amazon will give as much as $283, but in the form of an Amazon gift card.

The highest offer came from Apple itself.

Their recycling program offers up to $310 as Apple gift card.

"You get the money pretty much right away and they handle all the billing and the shipping. So the convenience is worth it," Ackerman said.

So what should you look out for when trying to sell your phone?

"You can definitely get a little more if you put it on Craigslist or put it on eBay, there you're dealing directly with the buyer. And there's always a chance of fraud," Ackerman said.

Craigslist says it provides a number of tips to users to prevent fraud, including that you should always meet the buyer in a public place.

eBay says "nothing is more important than providing a safe, secure shopping experience." And it offers its users a money back guarantee and stands behind every transaction.

Also, don't wait too long to sell your phone. Usell says two weeks after a new phone launches, your old one loses 11-percent in value.

And it's not just iPhones. Most of these companies will all buy your other smartphones as well.

Just make sure to reset it and delete all of your data.