Once you have decided that you want to upgrade your iPhone, you can either do this immediately or wait for the opportune moment to sell it. Each year, we have observed from our data that locking in a price prior to the announcement of the latest iPhone series will ensure that you will get the best price possible when selling your iPhone.
This is of course assuming that the usual price tracking trends have occurred. This year, as it goes without saying at this point; it has been a totally unique year for market trends across the board, which meant that some pricing trends did not adhere to our expectations. However, by and large, prices have steadily increased over the summer months following the drop caused by the lockdown, which then made August the best month to sell your device at the time. In September however, some devices are performing better than expected.
We have found that in September 2020, it could be the best time ever to sell certain iPhone models due to some of the changes that we have seen. For some iPhone models, trade-in prices have increased in September alongside the annual hike in offers before the much-anticipated launch of the new iPhone 12 in a week’s time. Read on to find out more.
Unfortunately, we do not have only good news to give you, but we can at least get the bad news out of the way first. Despite the iPhone 11 and iPhone 11 Pro only being released last year, and these devices being some of the most state-of-the-art iPhones available on the market, there has been a significant drop in these prices between August and September, which is unfortunate for iPhone 11 and iPhone 11 Pro users seeking an upgrade already to one of the models in the brand-new iPhone 12 series.
The models that have been the most severely impacted are the iPhone 11 64GB, the iPhone 11 128GB, and the iPhone 11 Pro 512GB. Last year’s iPhone 11 devices have already lost within the region of £30-£59. We anticipate that the trade-in prices for the iPhone 11 range will drop by an additional £50 after the iPhone 12 launch, and even further by up to £100 by the end of September.
The iPhone XS and XS Max range that was released in 2018 had a similar trajectory to the more recent iPhone 11 series. So far, the iPhone XS 64GB model has dropped by £6 compared to August, and the 256GB variant’s trade-in price lost £4 this month. The 512GB variant lost the most this month as it dropped by 8% (£35).
We are seeing the iPhone XS Max models undergoing a slight decrease in value. Both the 64GB and 256GB variants have decreased by £8 on average, except for the 512GB variant which increased by £4 this September.
Looking at the iPhone 8 and 8 Plus models, the prices have decreased across the board by 2% so far, with only the iPhone 8 Plus’ price increasing in September by £4.
The iPhone 7 Plus models are facing slight drops already, which is similar to the iPhone 8 Plus devices. The biggest decrease in value is £12 for the iPhone 7 Plus 256GB.
While September has not been a good month for the iPhone 11 and iPhone 11 Pro models, there has been a significant increase for the iPhone XR models. The iPhone XR 128GB increased by roughly £18, while the iPhone XR 256GB increased by £27.
There was also a surprising trend for the iPhone 7, which is a model that is now four years old. The iPhone 7 32GB had an increase of 7% (£8), while the iPhone 7 128GB only had a tiny increase (but still, this is certainly better than nothing and demonstrates how well the iPhone 7 has managed to retain its value).
The iPhone SE's (1st Generation) recycling price has also increased in September, and the owners of the original SE with 16GB and 128GB internal storage capacities can earn between 7% (£2) and 10% (£5) more for their devices.
You should ensure that you lock in the best price for your iPhone by taking advantage of the information that you have gleaned from our price tracking data when you sell your iPhone with Compare and Recycle.
Note: Prices mentioned in this article were correct at the time of writing on 11/09/2020.
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