I sent in my iPhone 4s 64G, which was in perfect condition (no scratches, dings, cracks, perfect working order, etc.), and I even hand polished my fingerprints off of it prior to putting it into the envelope to send it to Verizon.
I sent in my phone to Verizon October 4, 2013 and have not received my "gift card" to date, so I decided to check the status today December 7, 2013. The current status shows that my phone appraised at $220 was adjusted to $151.01. The Adjustment Reason field is BLANK. Therefore, Verizon dropped $70 off my appraisal for no reason. I feel like Verizon pulled a fast one on me and I feel like a fool for being tricked by this scam. I could have gotten more than $150 if I'd sold it online and I would have received cash and not a gift card.
Verizon has some serious explaining to do if they intend to keep my business going forward. I currently spend almost $400/month on Verizon Services. What bean counter decided that saving $70 was worth losing $400/month in business???