MoneyMagpie

Sep 10

Why now is the best time to cash in on your old iPhone

The iPhone XS family is just around the corner and you might be waiting with bated breath to hear what new features it will or won’t have. The price you can get for your mobile phone towards the new version will heavily depend on how quick you act.

Apple is set to unveil its new product line up on Wednesday the 12th shaking up the market with its latest and greatest iPhone iteration and the announcement date means one thing – iPhone resale prices will enter their most volatile period and drop consistently for the next upcoming weeks.

Compare and Recycle – the UK’s independent mobile phone recycling price comparison site, looked at trends for the previous 6 years and history reveals Apple product announcement day will result in a sharp decrease in offer prices for all iPhones across the board.

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The study conducted by Compare and Recycle into iPhone prices shows that depreciation trends follow the same pattern year on year. Recycling companies are offering extra quids for the few weeks prior to annual Apple Event and high average price will maintain until the announcement date. Compare and Recycle order data tells us the largest drops come as new iPhones get released or just prior to release and if you are dead set on upgrading to a new iPhone or your contract is about to end, you have limited time to scoop a top price when trading-in your old iPhone.

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The iPhone release this year is rumoured to be on 21st of September and last year taught us that the ten days between launch and release is the time when resale prices enter a period of fluctuation with no chance of regaining the same heights prices were at prior to 12th of September.

Those of you who have an iPhone 6 can get the most for their iPhone. During the past months, the 128GB got favoured with the biggest price spike of £50 and you can earn up to £155 for iPhone 6 today.

Following a two-year upgrade cycle, average recycling prices for iPhone 7 models got treated with impressive spike and are floating above £250. The iPhone 7 Plus variants are currently worth more now and you can cash in on up to £388.

It’s too early to tell how much the new iPhones will affect the resale prices of previous iPhone generations, but we know for sure the current values won’t be retained for long. If you are planning to upgrade this iPhone release, don’t miss out and go lock in the best recycling price before the 12th to secure the biggest payout.

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