With the release of the brand new iPhone 7 just around the corner, many of us will be contemplating trading in our old iPhones for the latest model. The unveiling is happening on September 7th, with an official release expected a week or two after.
As previous iPhone releases have shown, the trade-in price of older iPhones dramatically decreases in the weeks following the announcement of a new model. Older devices are expected to drop in price by at least 30% in the first few weeks after the iPhone 7 press event, if figures from the dates surrounding the iPhone 6S announcement are anything to go by.
There’s never been a better time to sell your iPhone than right now. In 2015, the average trade-in price of older iPhones fell by 31% after the iPhone 6S was confirmed in September, showing a slight recovery in the third week (roughly when the iPhone 6S was released) and then falling once again. This decline continued, and by the end of 2015, the average trade-in price of older models had decreased by a staggering 44%.
If trading in an old iPhone has been on your mind, this week is definitely the best time to do it. September 7th is almost guaranteed to be the announcement date, so make sure you act fast if you want to sell your iPhone. Currently, customers can trade-in 16GB models of the iPhone 6S for £305.00, iPhone 6 for £235.00 or the 5S for £96, with prices steadily going up as the storage increases.*
Gather up any old or broken iPhones that may be lying around the house, and make sure you beat the price drop before the iPhone 7 lands. To ensure you get the best price, we recommend trading them in as soon as you possibly can.
* Prices accurate as of 02/09/2016.