Gazelle

Having recently upgraded my phone, I decided to see what I could get for trading in my old one. After listening to about 500 commercials for Gazelle.com on This Week in Tech, I was excited to see what fortune I could collect for my Samsung Galaxy S3. The phone is less than 2 years old, a popular model, and still in great condition.

So I went to Gazelle and punched in my information. Looks like the yacht is going to have to wait, based on the following quote that I received:

Five dollars!
For "Flawless" condition.

That's not even remotely worth the effort it would take to wipe the phone, package it up, and ship it. I'm better off keeping it and using it as a mini Wi-fi tablet.

Since they clearly only give decent money for new phones in great condition, the logical conclusion is that they probably make most of their money by being a clearinghouse for stolen phones.