How Much is an iPhone 7 Worth? - Mobile Klinik

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How Much is an iPhone 7 Worth?

Cast your mind back to the world of 2016, when the iPhone 7 burst onto the scene, and you’ll remember how it captured the attention of tech enthusiasts with its cutting-edge design and innovative features. Today, however, you might find yourself wondering: “What is the value of an iPhone 7?” Whether this is your current model and you’re looking to upgrade, or you have one sitting at the back of your drawer, this article will provide insight into how much this device is worth. We’ll explore the factors influencing its value and whether it’s in demand and viable for prospective buyers wanting a wallet-friendly option.

Table of Contents

Is the iPhone 7 Still in Demand?

The iPhone 7, with its sleek aluminum body, lightning-fast processor, and impressive camera capabilities, was undoubtedly a crowd-pleaser when it first hit the market. Its arrival brought many exciting features, including a water-resistant design and the removal of the traditional headphone jack. But the burning question remains: Does this model still hold its appeal in today’s tech landscape?

While it may not command the same level of attention as the latest iPhone models, the iPhone 7 continues to have a dedicated fan base and holds its appeal for several reasons:

  • It has a compact size and familiar design that strikes a nostalgic chord with users who prefer a device that fits comfortably in one hand.
  • It has reliable performance and robust software support from Apple to ensure a smooth user experience, even years after its release.
  • It is more affordable than newer models.

Overall, while the iPhone 7 may not bask in the same light it once did, it’s still a popular option for those looking for budget-friendly devices that deliver practical functionality.

Used iPhone 7 Maximum Trade-in Values

Model
Very Good
Good
Acceptable

Model Apple iPhone 7 32 GB
Very Good
Good
Acceptable

Model Apple iPhone 7 128 GB
Very Good
Good
Acceptable

Model Apple iPhone 7 256 GB
Very Good
Good
Acceptable

* Price updated as of March 2024

How Do I Determine the Condition of My Phone?

When it comes to selling a pre-owned iPhone 7, knowing its condition is crucial in determining its value. When you get an online quote through Mobile Klinik, you’ll be required to place your device into one of the following three categories: Very Good, Good, and Acceptable. These conditions give a better idea of your phone’s worth.

  • Very Good: An iPhone 7 in Very Good condition is “like-new” and exhibits minimal signs of wear and tear. It also functions flawlessly, and the battery retains a significant portion of its original capacity. 
  • Good: Phones in this category show moderate signs of use but remain fully functional. There may be some minor scratches and wear, but these do not hinder user experience.
  • Acceptable: Devices in Acceptable condition have more significant wear, like visible scratches on the screen and body and more battery degradation. Despite its cosmetic flaws, it should still function properly. 

After you’ve obtained your quote online, visit us at your nearest Mobile Klinik store to confirm and finalize the value of your device.

What Was the iPhone 7 MSRP?

Upon its release in 2016, the manufacturer’s suggested retail price (MSRP) for the iPhone 7 in Canada was as follows:

  • iPhone 7 (32 GB): $899 (CAD)
  • iPhone 7 (128 GB): $1,029 (CAD)
  • iPhone 7 (256 GB): $1,159 (CAD)

Factors that Affect the Price of a Used iPhone 7

When getting an evaluation for your used iPhone 7, various factors determine its worth:

1. Storage Capacity

As shown above, iPhone 7 models with larger storage options, like 256 GB, tend to have higher resale values than those with lower capacities. This is because users today demand more storage space to accommodate their growing collection of apps, photos, videos, and other files.

2. Condition

The condition of your iPhone 7 plays a vital role in determining how much its worth. Devices in the Very Good category are considered in “excellent” condition, which will yield higher prices than those with visible scratches, dents, or other damaged components. Since these models are affordable options because of their age, buyers are willing to pay more for ones that appear well-maintained and function flawlessly.

3. Included Accessories

The inclusion of original accessories in the box or additional extras, like protective cases or screen protectors, can influence the resale value of your cell phone. If you offer the complete package, including the original charger, cable, earphones, and documentation, it shows prospective buyers that you were a responsible owner and took care of your device.

4. Market Demand

The overall demand for the iPhone 7 in the pre-owned market can influence its value. If there is a high demand for these models, prices will likely be more competitive. Factors contributing to market demand include its reputation, reliability, the current desirability of its features, and its affordability compared to newer iPhone models.

Where to Sell Your Used iPhone 7

Exploring different avenues can help you find the best marketplace for your needs when selling your used iPhone 7. Consider the following options:

  • Retailer Buy-Back Programs: Many reputable retailers offer the opportunity to sell or trade-in your used iPhone 7 for store credit or cash. Mobile Klinik, for example, has its own program to sell your device hassle-free. This provides you with the convenience of immediate compensation while ensuring your old device can live on with a new owner.
  • Carriers: If you’re ready to part ways with your phone, some mobile carriers will take your device off your hands in exchange for credit toward an upgraded plan and model.
  • Friends or Family: Spreading the word among your network that you’re selling your iPhone 7 is a great way to avoid the effort of putting up a listing. This way, you can ensure your device gets into the hands of someone you trust.

How do I Improve the Value of my iPhone 7?

If you’re looking to make the most of your iPhone 7’s value, there are several steps you can take to ensure you get the best possible price:

  • Keep it in Excellent Condition: Take good care of your device to maintain its condition. You can do this by using protective cases and screen protectors. Clean the phone regularly and handle it carefully to avoid accidental damage. As discussed, the better the condition, the higher the resale value.
  • Preserve the Original Packaging: If you still have the original packaging, including the box and accessories, keep these safe and in good condition. Many buyers appreciate having the complete package, and the original box can increase the perceived value of your iPhone 7.
  • Perform a Factory Reset: Before selling, factory reset your iPhone to erase all your personal data and return the device to its original settings. This step protects your privacy and security while presenting the phone as a fresh start for the new owner.
  • Provide detailed and honest descriptions: If you plan on creating your own listings, be transparent and accurate when describing the condition of your iPhone 7. Include high-quality photos showcasing the device from various angles, highlighting imperfections or special features. Honesty builds trust and helps you attract serious buyers.
  • Regular software updates: Keeping your iPhone current with the latest software updates is essential to improve performance and ensure access to new features and security measures. 
  • Research and Set a Competitive Price: Check online marketplaces and review completed listings to gauge the average selling price. Setting a fair but competitive price increases the chances of attracting potential buyers and expediting the sale.

Frequently Asked Questions

Do I need to unlock my iPhone 7 before selling it?

An unlocked phone allows buyers to use it with any carrier they want, which can increase its appeal. While Canada’s Wireless Code prohibits carriers from selling locked devices, this regulation didn’t come into effect until 2017. Therefore, it’s a good idea to check if your iPhone 7 is locked, especially if you bought it before this year. If you find that it is, carriers must unlock it for free.

When is the best time to sell an iPhone 7?

The best time to sell any phone is typically before the release of a new iPhone model. When Apple unveils new iPhones, it creates a surge of interest in the latest devices,  consequently decreasing the demand for older models. However, because the iPhone 7 is older, the demand may fluctuate less than it would for an iPhone 14, for example.

Is it worth selling my iPhone 7?

Deciding whether it’s worth selling your used phone depends on several factors:

  • Financial return: Once you understand how much you can earn from selling your iPhone 7, decide if this figure is worth it.
  • Potential upgrade: If you’re planning to upgrade to a new phone, selling your iPhone 7 can help cover a small portion of the cost.
  • Environmental considerations: Selling your used phone promotes a circular economy and reduces electronic waste. It allows someone else to use and benefit from the device, extending its lifespan and reducing the need for new phone production. If this is important to you, selling is worth it.
  • Time and effort: You can sell your iPhone 7 quickly through buy-back programs, which can avoid the hassle of posting your own ads, making the process better worth your time.

Ultimately, while there is still demand for pre-owned iPhone 7s, whether or not it’s worth selling depends on your individual circumstances and priorities. Need a second opinion? Get an online quote for your device’s trade-in value at Mobile Klinik and visit us in-store to discuss your decision.

 

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