Are you looking to sell your iPhone? Wondering if you should sell it now or wait a few months? Our advice to you is not to hesitate too long. You should consider selling it soon because Apple’s launch of the iPhone 12 is right around the corner.
Not only will Apple add a new phone to its lineup later this fall, but the company also will lower the price of existing phones. Your once precious iPhone will be significantly less valuable within the next few months.
When Should I Sell?
According to Swappa, pricing on Apple’s older iPhone models remain relatively steady until Apple announces a new phone.
Within a few days after the announcement, the value of an iPhone will begin to plummet.
The longer you wait after an iPhone announcement, the more money you will lose. The best time to sell is before an Apple press event, the worst time is right after the announcement.
To get the most money out of your iPhone, you should try to sell your existing phone within the next month or so.
Apple is expected to unveil the new iPhone sometime in October and may begin selling it sometime in November. If you sell your phone now, make sure you have a backup phone that you can use while you wait for the iPhone 12 to arrive.
If you are selling your existing phone to purchase a new one and don’t have a backup, you may have to wait until Apple has confirmed they are holding a press event. You’ll want to wait as long as possible as you don’t want to be without a phone for too long.
Private sales will net you the most on your old phone, but these prices also will be influenced by the announcement of the iPhone 12. Millions of people like you will be looking to sell their old phone and replace it with a new phone. Online markets, like eBay, Gazelle, and Swappa will be flooded with used iPhones for sale. This glut of phones and a price decrease by Apple will drive down the price of older iPhone models.
Trade-in values also may drop, but carriers and retailers may be a bit more generous, especially if early sales of the new iPhone are sluggish. These businesses want to sell phones and won’t mind taking your old phone in exchange for another two years of lease payments and cellular service.
Trade-in values typically are less than what you would get in a private sale, but they are certainly more convenient. You don’t have to deal with the hassle of meeting someone or collecting money. You also get to keep your existing phone and can immediately switch over to your new one.
How Much Is My Phone Worth?
There are many places to sell your iPhone and a handful of services that’ll buy your phone from you. You can check out the value of your existing phone from websites like Flipsy or SellCell. You should also look at resellers like Gazelle, which will quote you a price and allow you to lock-in that price until the new iPhone arrives. This lock-in plan lets you keep your existing iPhone as long as possible.