Apple's iPhone 12 is coming soon. If you want the new iPhone selling your old iPhone could help you finance the purchase - but you better hurry!
For many iPhone owners at this time of year the following pattern repeats: the new iPhone is launched, the new model is purchased, the data is transferred from the old iPhone, and the old model is resold - usually via Ebay or buying service.
However, selling your iPhone right after an iPhone keynote is actually the wrong time to sell your iPhone because the prices tend to fall after the keynote. In fact secondhand price for the iPhone X and iPhone XR fell shortly before the iPhone 11 keynote in 2019 and then fell even more drastically for a few days after the presentation.
This price decrease is likely to be greater if Apple continues to sell that handset at a reduced price - if the price of a new version of the phone you are selling isn’t much more than what you are advertising your secondhand model for you probably won’t be able too sell it for as much as you would like.
Models that Apple is keeping on at a reduced price are particularly affected - for example, the used price of the iPhone XR fell sharply last year when Apple reduced the price of this model from £749/$749 to £629/$599.
If this year Apple keeps the iPhone 11 in its range sellers may experience the same consequences, since the reference price for the used price will be the current new price.
Selling an iPhone 8 or a new iPhone SE could also pose a problem: Apple is said to be planning to introduce a new, affordable iPhone 12 Mini - if there is a new entry-level iPhone this could reduce the used price of older entry-level models.
In contrast, the prices of the top models tends to be more stable. Apple is expected to withdraw the iPhone 11 Pro from the line up so the price of second-hand models are less likely to drop significantly - there will be increased demand for those phones if Apple is no longer selling them.
You may also have better luck selling an iPhone with a higher capacity storage - Apple tends to discontinue the high capacity models of the previous generation when it introduces new iPhone models. So if you were hoping to sell a 256GB iPhone 11 Pro or Max you will probably be able to get a decent price.
Don’t delay your sale though: on average iPhone steadily lose value month after month. So while selling your iPhone just after the launch of the new model might have little effect on the sales price, waiting half a year will means a big loss of value.
With all this in mind we suggest that if you want to get a new iPhone you should consider selling your current device prior to the launch. This way you will get the maximum amount of money possible for it.
The good news is that iPhones hold their price better than Androids, so if you plan to sell you should be able to make decent money.
Read all about what we know about the iPhone 12.
This article originally appeared on Macwelt. Translation by Karen Haslam.