(Pocket-lint) - Now is the best time to trade-in or sell your iPhone. Why? Because prices will soon fall due to the next iPhone launch on 14 September. The best thing you can do is confirm a trade-in price now to ensure you get the best price you can.
Prices offered are about to fall
CompareMyMobile reckons you have four days grace following a new iPhone launch to sell or upgrade in order to get the best value.
The trade-in site says that in the week leading up to an Apple Event and in the four days following the event, the value of iPhones don't really depreciate but that subsequently prices significantly declined.
MusicMagpie says that the launch of the new iPhone brings with it about a 23 per cent drop in value of existing iPhone models over the following months. That could see a £140 reduction in value for an iPhone 12 Pro if you delay in trading it in.
The company offers a 21-day guarantee on trade-in prices, so you can secure your rate before the new model is released and you buy the new phone.
What can you expect to get for your old iPhone?
Compare and Recycle suggests that the iPhone 12 range lost on average 41 per cent off its retail value, in just one year. That works out to an eye watering £620 loss for the iPhone 12 Pro Max 512GB. The company's price tracking data revealed that the iPhone 12 mini 64GB depreciated the most since launch, losing 47 per cent. Among the iPhone 11 series however, the iPhone 11 64GB and 128GB models are the clear winners after 2 years as they have retained 45 per cent of their original retail price.
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