Maybe, depends on who you sell to, plus selling privately you need to include everything else like cases, chargers etc and box, with recycling you just literally send the phone after resetting it.
Whats your experience like sending into them?
I was considering sending in my S22 Ultra since webuyanyphone were offering over £400, but a quick look at their trust pilot suggests they don't take much care when testing phones. Reports of videos being sent of the wrong phone, damage appearing on the phone that wasn't there when they sent it etc. I'd be pretty irked if I sent my phone in that looks almost new, and they did something like that.
I was considering dropping the phone off at my local CEX but they've dropped the price now, and it turns out their highest tier also requies the box/cables etc. Which admittedly I do have the box, manuals etc. But I seem to be missing the useless short usb-c cable they sent. Which I guess is not surprising, I probably used it once then forgot about it, because it's too short to be functional for most use cases.