If your head has been turned by the latest leaks and information around the Apple camp about the iPhone 8, then you will probably be asking “when is the best time to sell my iPhone?”.
We have compiled the offer prices from over 30 recyclers to provide you with an accurate guideline of when is the best time to trade in your iPhone 7, iPhone 6S and even earlier models to get the most money for your old device.
The Compare and Recycle comparison engine allows all merchants to change their price in real time, so price fluctuations occur depending on demand and supply, but the similarities season to season are always consistent and the cross reference of over 30 recyclers provides reliable data.
This data will help you decide when is the best time to sell your mobile to get the best price.
The iPhone 6S Depreciation
The best way to anticipate how much your iPhone 7 will have depreciated by, is to look at previous trends.
The following graph is the monthly average price for the iPhone 6S in the months leading to and after the launch of the iPhone 7.
The month before iPhone 7 came out, the demand from the recyclers is high enough to drive recycling prices up. Many people like to hold onto their device in August to trade in for the new model in September so Merchants offer a higher price in August to keep their stock levels high.
Many people aren’t happy to sell their iPhone in August, so we look at when is the best time in September to request a pack to send your phone off.
The announcement was made on the 7th of September 2016 resulted in a sharp decrease in offer price. This coincides with the volume of people selling through the website, indicated by the green bars.
Immediately after the announcement the price enters its most volatile period with the most sudden drop off, affecting the smallest capacity iPhone 6S the most.
This volatility lasted all the way until the release of the iPhone 7, the prices were then met with a steady resale price for several days before it hits a more consistently slow fall in price for the months following.
The ten days between announcement and release can mean the difference of up £50 if you have the latest iPhone, so deciding quickly is the best course of action to ensure the biggest payout.
Previous models also follow this pattern, with an increase in the month before the announcement. August breaks the moving average with a sharp peak as more people hold onto their mobiles and are less inclined to sell before the new iPhone is released.
iPhone 7 Depreciation
The iPhone 8 is just around the corner and people are waiting with baited breath to hear what new features it will or won’t have. The price they can get for their mobile phone towards the new version will heavily depend on how quick they are to act.
We can see that, following the trend of previous models, the price offered in August is higher than that of the three months prior, and this average price will maintain until the announcement which is yet to be released by Apple.
Our advice is if you are getting the new iPhone 8, or even if you are looking to trade in your phone, then right now in August, demand is at its highest and recyclers are paying up to £50 extra for a working mobile in good condition.
The problem with this is that you will need to have a spare mobile phone in order to tide you over until you buy the new iPhone 8.
If you are waiting to see what the announcement brings but are on edging towards getting the iPhone 8 regardless, or you don’t have a spare phone to trade in August, then you should take advantage of the 14 day price lock-in and request a pack on the day before the announcement to maximise the price you can get in September.
Check our Sell your iPhone page to see the current offer prices of older iPhones.
All data has been taken from order and listing price of the specified mobile phone from the CompareandRecycle.co.uk website.