Compare and Recycle
20/08/2020

You Snooze, You Lose: Time To Get The Most Money For Your iPhone

four iphone mobile phones on a line chart background

In the most comprehensive price tracking study that we have ever created, updated again for 2023, we have looked at every iPhone recycling price since the iPhone 7 to understand what previous iPhone generations are worth now and how the iPhone 15 range may affect the value of older iPhones when you come to sell your iPhone.

  • Our data illustrates that the value of iPhones depreciates over time with the highest depreciation rate from the original retail price occurring within the iPhone’s first year on the market. The data that we have analysed discloses more about what happens to iPhone resale prices when a new generation of iPhone gets released.
  • An iPhone will lose upwards of 25% of its retail value the second you unbox it at launch date and up to 53% in the first year of ownership!
  • Looking at more recent releases, iPhone depreciation is spiking. Compared to iPhone 13 series, iPhone 14 lineup depreciated by 7% more in its first year.
  • A new trend is emerging where iPhone Pro models are depreciating slower than their non-pro counterparts from the same release.
  • The largest drops for older models occur as new iPhones are released or just prior to release/after the announcement. Trade-in prices drop slightly after the official announcement from Apple, then enter a period of fluctuation and drop by an average of 20% after the release.
  • Through the month of August and early September trade-in prices are traditionally at their highest hence it is the best time to sell your iPhone.
  • During the second year post-release, devices reach a plateau and depreciate much slower than during the years before and after.

A Deep Dive into the iPhone Depreciation Data: iPhone 7 to the iPhone 14 Pro Max

The iPhone 11 was the first flagship device from Apple that was released with a lower retail price than its predecessor, which has had a clear effect on the prices of previous models. The XS range had the sharpest drops after the iPhone 11 release, this was repeated in 2022 with the iPhone 13 release and its effect on previous releases.

The latest iPhone generation is set to lose the most around the launch date of the 2023 iPhones, our study estimates that iPhone 13 series value will drop at least £105, and most older iPhones will experience their biggest value loss of the year around the same time.

Price History of iPhone 11 to iPhone 14 Pro Max

iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max Depreciation - A Record-breaking First Year Depreciation

With four iPhones to choose from and multiple capacities in between that bring the total number of devices in this lineup to 14. The iPhone 14 lineup marked the end of Mini models, and the start of Plus iterations of the iPhone, but despite offering something extra in the Plus models for a higher retail price, this didn’t translate in higher value retention and during its first year on the market, the iPhone 14 series saw a value drop of 47.80% on average.

Depriciation data of iPhone 14 to iPhone 13 Pro Max based on resale price tracking

Straight off the bat, the iPhone 14 Plus had the biggest resale value drop during the first 6 months on the market, losing 51.07% or £533.75. Individually, the 512GB model of the iPhone 14 Plus has seen the worst depreciation losing £44 per month since launch.

Its first 12 months on the market, the iPhone 14 512GB saw a 50% drop in value or £497- that’s huge! Whilst the iPhone 14 Pro Max 1TB dropped a whopping £920 which is the worst depreciation among the whole iPhone 14 lineup and any iPhone ever, hitting a £76 drop each month.

The iPhone 14 lineup experienced a slight increase in value during June 2023 and has since slowly continued to drop in price but nothing in comparison to the first 6 months since the release. Like the iPhone 13 lineup, the iPhone 14 models have followed a similar depreciation trend where Pro and Pro Max 128GB and 256GB variants are experiencing a slower first-year deprecition, but higher storage capacity models are taking the hardest hit.

As a whole, the iPhone 14 series have depreciated the most, setting a new record of losing on average 47.80% or £601.32 off the retail price in the first 12 months on the market. With the value drop being this record high it’s becoming even more financially beneficial not to opt in for the latest releases and make the environmentally responsible choice of keeping your current iPhone for longer. If you're set to upgrade your iPhone, consider choosing a Pro or a Pro Max variants as they hold their value slightly better and exercise caution with Plus models.

Sell your Apple iPhone 14 nowGet up to £507.00!

iPhone 13 and iPhone 13 Mini Depreciation: Levelled Out Pricing

Depriciation data of iPhone 13 Mini to iPhone 13 Pro Max based on resale price tracking

The iPhone 13 range wasn't lucky either and continued to devalue by a further 22% on average after the iPhone 14 series release. The introduction of the iPhone 14, back in 2022, took an average of £85.71 off of the iPhone 13 models' value, with again the highest capacity model depreciating the most with a loss of up to £140.93.

Sell your Apple iPhone 13 Mini nowGet up to £400.00!Sell your Apple iPhone 13 nowGet up to £450.00!

iPhone 13 average trade-in price since its release

iPhone 13 Pro and iPhone 13 Pro Max Depreciation: A Steep Drop In Value

iPhone 13 Pro average trade-in price since its release

During the first 12 months on the market, the iPhone 13 Pro and iPhone 13 Pro Max both lost an average of 41% off their retail value. That works out at an eye watering amount of £620 for the 512GB Pro Max, in just one year. The iPhone 14 series brought a further loss of £114.74 on average to the entire Pro range of the iPhone 13. For the remainder of 2023 the resale value of iPhone 13 Pro Max has been floating between £600 - £750, with no increase in the run up to September. The iPhone 13 Pro models had significant losses in 2022 and we anticipate a further drop of at least £100 after the iPhone 15 series arrive.

iPhone 13 Pro Max average trade-in price since the release

Sell your Apple iPhone 13 Pro nowGet up to £531.00!Sell your Apple iPhone 13 Pro Max nowGet up to £531.00!

iPhone 12 and iPhone 12 Mini Depreciation: Reached Its Sweet Spot

iPhone 12 Mini average trade-in price since release

Sell your Apple iPhone 12 Mini nowGet up to £300.00!

In the first year the iPhone 12 and the iPhone 12 Mini have both lost an average of 44% off their retail price which was a record among the entry level models comparing to previous releases. The 2021 release has brought a value drop of 13% or £56 on average to the iPhone 12 Mini range, with the 256GB variant losing the most - £75.

The iPhone 12 range wasn’t protected from a 15% average drop in value after the iPhone 14 series release. The introduction of the iPhone 14, back in 2022, took an average of £134.64 off of the iPhone 12 models' value, with again the highest capacity model depreciating the most with a loss of £140.10. Pre iPhone 14, resale prices stabilised from January 2022 onwards, but 3 months after the new release have dropped in value which remained stable for now until the iPhone 15 series launch.

iPhone 12 average trade-in price since release

Sell your Apple iPhone 12 nowGet up to £351.00!

iPhone 12 Pro and iPhone 12 Pro Max Depreciation: Just About Holding Value

iPhone 12 Pro average trade-in price since release

Sell your Apple iPhone 12 Pro nowGet up to £400.00!

During the first 12 months on the market, the iPhone 12 Pro and iPhone 12 Pro Max both lost an average of 41% off their retail value. That works out at an eye watering amount of £620 for the 512GB Pro Max, in just one year. The iPhone 14 series brought a further loss of £249.91 on average to the entire Pro range of the iPhone 12. For the remainder of 2023 the resale value of iPhone 12 Pro Max has been floating between £400 - £500, with a slight increase of 4% on average in the run up to September. The iPhone 12 Pro models had significant losses in 2022 and we anticipate a further drop of at least £100 after the iPhone 15 series arrives.

iPhone 12 Pro Max average trade-in price since release.

Sell your Apple iPhone 12 Pro Max nowGet up to £500.00!

iPhone SE 2020 and 2022 Depreciation: Less Impacted by the Flagship Launches

iPhone SE (2020) average trade-in price since release

Apple releasing a truly budget iPhone has proved a really popular decision among iPhone users. On the resale market, there was huge fluctuation at launch with iPhone SE 2020 value determination, but has evened out by the end of 2021 and remained fairly stable in 2022-2023. As the graph above shows, the iPhone (2020) has been subjected to minimal value drop by new flagships coming to the market which has instead boosted the resale prices of the SE back to its early 2021 prices for a couple of months. During its second year on the market, the SE (2020) has depreciated by 30% and can be traded in for a price between £100 - £150 in the run up to iPhone 15 launch.

Interestingly, iPhone SE 2022 model's depreciation went in reverse after the launch of the iPhone 14 series gaining up to £40 during 3 motnhs post launch. Followed by a deep dive for the majority of 2023, the resale prices peaked back up, with only the 64GB variant going below £200 prior to iPhone 15 release.

We don't expect these iPhone models to drop in value as much as the more premium devices with the launch of the iPhone 15, so these resale prices are likely to remain consistent until Christmas.

Sell your Apple iPhone SE (2020) nowGet up to £91.50!Sell your Apple iPhone SE (2022) nowGet up to £191.50!

iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max Depreciation: Rough Start Led to Great Value Retention

The iPhone lineup that Apple unveiled back in September 2019 is an interesting one. Firstly, there were three iPhone models with a distinctive pricing strategy and consumer appeal. The iPhone 11 has not been considered to be a low-end iPhone compared to the iPhone XR or SE 2020 for example, but rather as a cheaper flagship model and a move from Apple to introduce a slightly more affordable flagship device to the masses. The iPhone 11 Pro and iPhone 11 Pro Max on the other hand offered more premium user experiences which many Apple users would choose as a more lavish option.

iPhone 11 average trade-in price since release

Following the launch of next generation iPhones, prices tend to drop suddenly in September, then fairly consistently drop for the following months. This is what we see happening to the iPhone 11 models after the iPhone 13 and iPhone 14 series announcements. Resale prices tend to level out across the new year and remain relatively unchanged until July. In the case of the four years old iPhone 11, only the high capacity models have been falling in value more than the entry 64GB. The iPhone 11 64GB is the clear winner after 4 years as it has retained 47.33% of its original retail price and those trading it in at the moment are enjoying a positive return.

Sell your Apple iPhone 11 nowGet up to £270.00!

iPhone 11 Pro average trade-in price since release

The iPhone 11 Pro 64GB prices have dropped dramatically with the release of the iPhone 14 series. September 2022 with the new iPhone 14 series lineup has taken on average £54.92 off of iPhone 11 Pro resale prices. We're seeing the offer prices increasing for only the Pro models with higher GB in the run up to the new iPhone launch 2023, which means current prices are as high as they will be for a short time.

Sell your Apple iPhone 11 Pro nowGet up to £350.00!

iPhone 11 Pro Max average trade-in price since release

The iPhone 11 Pro Max models have followed a similar depreciation pattern to the iPhone 11 Pro models. Overall, after four years the 11 Pro and Pro Max devices have dropped an average of 60.25% off their retail prices, losing only an additional 23.34% of value in the 4th year on the market. This again reinforces thinking that keeping your iPhone for at least two - three years and then recycling it is the optimal upgrade cycle to reduce the depreciation rate you experience.

Sell your Apple iPhone 11 Pro Max nowGet up to £370.00!

iPhone XS and iPhone XS Max Depreciation: Still Holding Value

iPhone XS average trade-in price since release

After that crazy first year, things have mellowed out a bit for the iPhone XS, and as we spoke about last year, they had some of the sharpest drops in 2020 due to the iPhone 11 range coming in at lower prices than the XS. We can see now that the pricing has mellowed out and has steadily decreased at less harsh rates.

This year, the devices have dropped a further 39% on 2022 prices, and have seen almost no upwards movement in the run up to the iPhone 15 flagship launch. However, some iPhone XS and iPhone XS Max models could still get around £180, not bad for a five year old iPhone.

Sell your Apple iPhone XS nowGet up to £140.00!

iPhone XS Max average trade-in price since release

Sell your Apple iPhone XS Max nowGet up to £155.00!

iPhone XR Depreciation: Still Very Desirable

Even though the XR has been positioned as a "cheap" iPhone at launch, five years down the line, it's staying on par flagship XS models in terms of resale value and can be traded in for up to £180. The iPhone XR is a prime example of value retention the longer you use your iPhone.

We spotted an interesting dynamic in XR resale price around the launch of the iPhone SE in 2022 which has dipped the XR's value for a period of 3 months, with the 256GB model experiencing the most instant drop and recovery. This is the first time such an impact of non-flagship iPhone release has happened on the value of older generation iPhone. Even since the launch of the iPhone 14, the iPhone XR 256GB has seen a tiny increase in value in comparison to the start of this year (£157) which is incredible.

iPhone XR average trade-in price since release

This can be explained by the fact that the SE 2022 has displaced the XR in Apple's portfolio, but nevertheless the XR is still a valuable device even after 5 years, floating above £150 resale price mark. You can find plenty of refurbished iPhones which is a great option to be a kid's first phone.

Sell your Apple iPhone XR nowGet up to £165.00!

iPhone X Depreciation: Very Little Difference in Capacities

The most interesting feature of the iPhone X resale pricing is how similar it is, with the difference between capacities being very incremental unlike other models. The fact that an iPhone from 2017 can still pocket you just above £100, is pretty impressive.

iPhone X average trade-in price since release

Sell your Apple iPhone X nowGet up to £115.00!

Last year, the iPhone 8 was surpassed by iPhone 11 in terms of the most frequently traded in device at Compare and Recycle, but nevertheless both iPhone 8 models have only lost an additional 4.5% in value compared to 2022 and can still earn their owners £96 on average.

The iPhone 8 has now been superseded by the iPhone SE 2020 and SE 2022 but has still managed to maintain quite a respectable trade-in price. Unlike last year, the 64GB iPhone 8 lost a few extra pounds in the run up to the iPhone 15 launch which will mark the end of OS support, so if you're still rocking an iPhone 8, now is a great time to upgrade.

iPhone 8 and iPhone 8 Plus average trade-in price since release

Sell your Apple iPhone 8 nowGet up to £70.00!Sell your Apple iPhone 8 Plus nowGet up to £71.00!

iPhone 7 and iPhone 7 Plus: Still Worth a Few Quid

Older iPhones have traditionally retained their value well, and with the news iOS 16 support is the last update supported by iPhone 7 models, this year might be your last chance to scoop a great upgrade and a decent price for your old smartphone.

iPhone 7 average trade-in price since release

You can still fetch between £18 and £50 for your old iPhone 7, mainly due to Apple’s commitment to longevity and keeping the phone supported for 5 years. Despite the iPhone 7 models not being supported by Apple anymore, it can pocket you a significant amount, so if you have one lying around then it’s worth cashing it in earning something to go towards your next iPhone.

Sell your Apple iPhone 7 nowGet up to £17.00!Sell your Apple iPhone 7 Plus nowGet up to £31.00!

iPhone 7 Plus average trade-in price since release

Summary

If you want to buy one of the new iterations of the iPhone (either one of the most recent Apple devices or the latest iPhone 15 when it comes out in September 2023), then ensure that you follow the steps below:

  • Lock in a price before the announcement to ensure the highest pay out for your old iPhone. If you are looking to trade in your older iPhone and upgrade to one of the iPhones that Apple is currently offering, then you can do so until beginning of September as the demand for older iPhones among recyclers is at its highest and recyclers will be willing to pay extra for a working iPhone in good cosmetic condition.

  • For those of you who tend to upgrade year after year, you ought to keep your eyes peeled for the announcement date and place your trade-in order on the launch day by the latest.

  • Lower capacity versions depreciate at a lower rate in the first year, so if you're a frequent upgrader, consider opting in for the lowest capacity model.

  • Higher capacity, premium models hold their value for two or more years. If you are planning to upgrade to one of the iPhone 15 models, our data tells us that the higher capacity models retain their value better over time, so you will benefit more by paying a slightly higher price for a brand new iPhone with a higher capacity and will get more cash when you decide to sell it after 2-3 years of use. But still think about the environmental impact of a high capacity iPhone.

  • Make sure you follow our step-by-step guide to completely remove your personal data from your phone before selling it.

Antonia

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