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Phones

eBay wants to help you sell your old phone fast with Instant Selling

Unfortunately, it's not for cash.

An Ebay logo is seen on a mobile phone

You can get rid of your old phone in exchange for eBay vouchers.

SOPA Images

eBay will now let you sell your old phone in "a matter of minutes," but there's a small catch: You get paid in eBay vouchers.

Known as Instant Selling, the service could be useful if your previous phone is just gathering dust and you're bidding on some big-ticket item.

The e-commerce site says it offers returns that are up to 40 percent higher than other trade-in providers, which it says offer 40 to 50 percent off the average market selling price.

ebay-instant-selling-price-relization-daata-image
eBay

To use the service, you need to enter your device info -- including the model, color, condition, carrier and any accessories -- and it'll give you the trending price. We found that a used, unlocked Apple iPhone 5S in perfect condition with all the accessories would be expected to go for $77 -- not bad for a 5-year-old phone.

After listing it and accepting the conditions, you get your instant voucher and can ship your phone using a printable eBay shipping label.

"Millions of Americans have unused phones in their homes and simply don't realize how much their devices are worth, probably because trade-in values are typically so low," Alyssa Steele, eBay's vice president of hard goods, said in a statement.

"With Instant Selling, people can find out exactly how much their phone is worth, and sell their phone within a matter of minutes to immediately help fund the holidays, or maybe something off their personal wish list."

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