I recently purchased an Apple Watch Series 4, which meant that I had an Apple Watch Series 2 that I was no longer using, and there is nobody in my family that would have a need for that device anytime soon. Thus, I decided to take advantage of the new Apple GiveBack program to trade in my old watch. My old device will be refurbished for someone else to buy, or perhaps it will be used for parts, but at least something useful will happen with it. Plus, Apple pays for many devices turned in through the program.
The program could not have been easier to use. Start by going to the Apple GiveBack page of the Apple website. Select the item you are giving back — iPhone, iPad, Mac, Apple Watch, etc. It doesn't even have to be an Apple product; Apple will also take items like smartphones made by other manufacturers. Then answer a few simple questions about the device, such as does it turn on and what condition is it in. Apple will then give you a quote of how much they will pay you for the device. For example, Apple will pay $100 for an iPhone 6s and $200 for an iPhone 7.
For some items, like the Apple Watch, Apple makes you enter the serial number of the device, a way to protect against fraud. You don't want someone stealing an Apple Watch from your wrist and then turning it in to Apple to get money. For my stainless steel 42 mm Apple Watch Series 2, Apple gave me a quote of $125.
I completed the online form on Apple's GiveBack webpage on October 2, 2018. Apple told me that I would hear from a company called Brightstar, and that company emailed that same day to let me know that it was sending me a box. On October 8, 2018, I received a cardboard box which was designed to hold in a secure fashion either an Apple Watch or an iPhone, along with a shipping label. There were very clear instructions on where to place my watch in the box to keep it safe during transport. (I didn't have to return a band; just the watch itself.)
I dropped that box off with UPS on October 9, and Brightstar received it on October 12. Brightstar took a few days to check out the condition of my watch, and then on October 16 sent me an email saying that everything looked good and that I would soon get a gift card. On October 19, I received an email with my $125 Apple Gift Card, with a button I could click to add it to the Wallet app on my iPhone.
The entire process was incredibly easy. I didn't have to worry about finding a buyer myself or dealing with an unsavory character on eBay looking to take my watch without paying me, or anything else like that.
Note that I also still have my original, first generation Apple Watch, The GiveBack program would only give me $25 for that one, and thus I decided to hang on to it. Many years for now, it should be interesting to compare that first generation Apple Watch with the Apple Watch Series 10 or whatever they are calling it in the future.
There are also some items that Apple won't pay you for, like an old iPod, but you can still use the GiveBack program to recycle it. Also, you have long been able to walk into an Apple Store to recycle many older devices. About a year ago I turned in an old iMac that wasn't working anymore to my local Apple Store. Apple wouldn't pay me anything for it because the screen no longer came on, but they were happy to take it and recycle it.
If you are have an Apple Watch (or other device) that you no longer need, I encourage you to take a look at the Apple GiveBack program. You can reduce clutter in your own house, turn in a device to be reused or recycled, and you may even receive a gift card to use towards your next Apple purchase.