If this all sounds familiar, that’s because eBay has tried its hand at similar services in the past – repeatedly. In 2013, it shut down an older “Instant Sale” service that focused on ...

Today, eBay launched its new Instant Selling service, which allows users to trade in their old phones for an eBay voucher. The company is promising a higher return than its competitors.

eBay notes that sales of older phones peak around the time of new iPhone launches. Last year, eBay sellers were earning an average of $508 for iPhone 6 and 6 Plus models, following the ...

Customers can then choose how they receive the money from their traded-in device, either through an instant eBay coupon to go towards an upgrade, or receive payment directly to their bank account.

Ebay has opened a store in New York City that lets customers use their pre-owed luxury items as currency to buy authentic items from brands such as Gucci, Rolex and Van Clef & Arpels.

EBay was quick to note that the iPhone 7 ($288.00 at Visible) is launching on Friday, so selling your old phone via Quick Sale could help you pay for the new one.