People Are Unloading Their Second-Rate Tech Gadgets For Apple Watch

With Apple Watch shipments just around the corner, a new second-hand market for smartwatches is beginning to surface. It's a market that didn't exist in 2014, despite 6.8 million smartwatches sold across the world, according to independent research firm Smartwatch Group. But with Apple set to release Apple Watch, consumers are looking to sell their Pebbles, Galaxy Gear and Moto 360 smart watches, and trade-in companies are looking to cash in.

NextWorth Solutions started taking smart watches on April 10, the same day pre-orders started for Apple Watch. The timing was not coincidental. "We didn't introduce it sooner because wearables didn't have a flagship behind them," said Jeff Trachsel, chief marketing officer of NextWorth Solutions. "But with Apple Watch launching, the timing is right."

By getting in early on smart watches, NextWorth is trying to establish itself over better-known Gazelle and Usell, which do a brisk business in old smartphones. They join Amazon, which is also buying smart watches as part of a trade-in program. In just a weekend, wearables have become Nextworth's second-largest category to smart phones.

"In the time we've launched, wearables have been our number two category behind iPhones," Trachsel said. "We think it's a pretty remarkable start. [Demand has] held over the weekend and early into the week."

Of the smartwatches traded in, the Pebble accounted for two-thirds, while the last third was split between the Moto 360 and Samsung's Galaxy Gears, he added.

Whether or not that continues has yet to be seen. But if you're planning on ditching your smartwatch for an Apple Watch, here’s a closer overview of where you can trade it in and what prices you can expect.

NextWorth

After answering four questions regarding your smartwatch’s condition, NextWorth is quick to offer price quotes on a number of smartwatches. And after shipping your device to them, payment can come in the form of a prepaid bank card, check, PayPal or Target gift card. The company also has a partnership with select Target stores if you prefer to trade-in your device in person. However, when done through that method, payment is only issued in as Target store credit.

Motorola Moto 360: $126 (steel band), $107 (leather strap)
Samsung Gear 2: $107
Samsung Gear Fit: $37
Pebble Steel: $81
Pebble: $26

Amazon

The ecommerce giant offers another avenue to trade-in your smartwatch, which also includes free shipping to their warehouse. However, unlike some other options Amazon only gives out its store gift cards in exchange.

Motorola Moto 360: $121 (steel band), $100 (leather strap)
Samsung Gear 2: $102
Samsung Gear Fit: $26.50
Pebble Steel: $70.55
Pebble: $21

BuyBackWorld

This trade-in company takes a similar approach to other websites, offering a quote online for many smartwatches. Once BuyBackWorld receive your device and the trade-in is approved, payments can be issued in form of a check or through PayPal.

Motorola Moto 360: $100 (steel band), $77 (leather strap)
Samsung Gear 2: $60
Samsung Gear Fit: $26.50
Pebble Steel: $70.55
Pebble: $21

Best Buy

If you’re uncomfortable with sending your device through the mail, Best Buy also offers in-store trade-ins for smartwatch. But payment is also only in the form of a Best Buy gift card and prices aren’t nearly as competitive as some of the other companies.

Motorola Moto 360: $40 (steel band)
Samsung Gear 2: $40
Samsung Gear Fit: $25
Pebble Steel: $35
Pebble: $10

Swappa

If you’re not in a rush, you can also choose to sell your watch on the open market through marketplaces such as Swappa, which cater to buying and selling lightly used mobile devices, including smartwatches. But unlike other websites, which pay out as soon as they get your devices, payment only comes when a buyer purchases your smartwatch and you ship it out.

Motorola Moto 360: $145-280
Samsung Gear 2 Neo: $140-145
Samsung Gear Fit: $60
Pebble Steel: $140-160
Pebble: $65-70

Caveats

If you sell your smartwatch, there a couple caveats that need to be taken into consideration. Even if a company quotes a certain price, they may provide a lower price when it arrives in their warehouse, especially if they decide it’s in worse shape than described. In addition, you may need to tack on the price on an iPhone if you’re switching to Apple Watch, since it’s only compatible with iPhone 5 and above.

But you can also defray the cost to switch by trading-in or selling your Android smartphone at a wider variety of places, including Gazelle, Nextworth and even the Apple Store if you so choose.