Used iPhone prices drop 20 percent after an announcement

Used iPhone prices drop 20 percent after an announcement

Summary: An online marketplace claims that proactive iPhone sellers can earn as much as $72 more by selling their old device (or at least arranging to) before Apple's media event on September 10.

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Earn an extra $72 if you sell your iPhone before September 10 - Jason O'Grady

Earlier this week I wrote about how prices for used iPhones and iPads plummet in the wake of a new product announcement. New information from uSell.com, a marketplace for used gadgets, quantifies the data even more. According to the company's research, proactive iPhone sellers can earn an extra $72 by selling them (or at least arranging to) before Apple's media event on September 10.

To measure the effect of a new iPhone model on the used iPhone market, uSell.com examined hundreds of used iPhone sales on its platform following the 2012 iPhone 5 launch. Notable findings include:

  • 1 week after a new iPhone launch, old iPhones lose about 5% in value.
  • 2 weeks after launch, old iPhones depreciate about 12%.
  • By weeks 3 and 4, old phones are worth about 20% less.

By locking in a sale price before an upcoming iPhone launch (many platforms like uSell.com, NextWorth and Gazelle offer 30-day price guarantees) you can substantially increase the value of your old iPhone.

  • iPhone 5:  Potentially worth $72 more (compared to 3 weeks after launch)
  • iPhone 4S:  Worth $46 more
  • iPhone 4:  Worth $29 more

The pro tip is to lock in your quote with one of the big three above before September 10, but wait to ship your old iPhone until day 29 or 30. Hopefully you'll have your new iPhone 5S or 5C by then.

Topics: Apple, iPhone, Smartphones

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6 comments
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  • But apple doesn't pre announce anything

    This is the big difference. No one has ANY idea when the next iphone will come out. It could be tomorrow. It could be 5 years from now. /s
    toddbottom3
  • Gambling...

    All that glitters is not gold...especially any product from apple.
    OwlllllllNet
  • Even more than that...

    It used to be that 2 Generations of iPhones held their value well... Now, you can find iPhone 4s for most carriers for $200 on Craigslist (sure there will be some higher priced but, they're not moving). and the iPhone 5 seems to be around $400 so even that is low for past Apple products.
    slickjim
  • apple is hoping to dent the second hand market with the iphone cheap (5C)

    All these second hand sales means no cash for Apple so they are hoping to kill off selling generation -1 devices and steal some of the second hand market but they also risk canibalizing the premium line as well since we all know everybody loves a bargain, if only in appearance (see the article explaining how the low cost units end up costing as much as the premium line.
    greywolf7
  • Used iPhone prices drop 20 percent after an announcement

    Yah think that NO ONE want's them at any price, because they're overpriced to start with.....yah think?
    Over and Out
  • uSell promo for proactive phone sellers

    Thanks for including us in your article, Jason! As a perk to all the proactive iPhone sellers on ZDNet, we're giving an extra $10 back on any phone sold for $30 or more through uSell.com, up until the announcement date of September 10. Just use the code ZDNET10 on the checkout page.

    -Jenn, uSell.com
    usell.com