If you’re thinking of trading in your old iPhone, you might want to get a wiggle on, because offer prices are surging ahead of the launch of the much-anticipated iPhone 11 in September.
According to the latest iPhone Price Tracking Study by mobile phone comparison site Compare and Recycle, you can currently get over £450 for a second-hand iPhone X or XR.
Meanwhile, selling your one-year-old iPhone XS or XS Max could return you the highest value it has ever had, with the iPhone XS Max 64GB currently going for £641.
If you have an older iPhone, you can still get a decent amount, with second-hand iPhone 8 devices going for £278-370, and iPhone 7s for £132-168.
The value of the iPhone 6s has actually gone up, with merchants offering extra for all capacity models, and the iPhone 6s Plus 16GB increasing by 18% to £116 in the last month.
The iPhone SE models 32GB is also seeing an uplift of 25%, and might fluctuate just above £50 during the next few weeks, according to Compare and Recycle.
However, after Apple officially unveils its new iPhone line-up, there is expected to be a significant dip in what you can earn for older iPhones.
For example, the resale price of the iPhone X 256GB is expected to drop by £43.10 after the iPhone launch, and the value of various iPhone 8, 7 and 6 models will drop by around £25.
“The annual spike of iPhone resale prices across certain iPhone models has kicked off and Plus and Max models are holding their value much better than basic models,” said Matthew Moreton, Managing Director at Compare and Recycle.
“If you are determined to buy one of the new iterations of the iPhone, locking in a trade-in price before the release will help you save on your new iPhone.”
Last week a report by the Royal Society of Chemistry (RSC), revealed that there could be as many as 40 million electronic devices sitting unused in drawers and cupboards around the UK.
This includes mobile phones, computers, smart TVs, MP3 players and e-readers.
Of those surveyed, 82% said they have no plans to recycle or sell on their devices after they fall out of use.
When asked why they don’t recycle old devices, more than one in three (37%) said data and security fears made them uneasy, while a quarter said they prefer to sell them.
Almost a third (29%) also said they didn’t know where to go to recycle old tech.
How to get the best price for your iPhone when you sell it
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Plan your upgrades early and lock in a price on the day of or the day before the new models get announced to ensure the best deal.
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If you tend to upgrade your iPhone year after year, you should opt for smaller capacity models as the depreciation is lower.
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If you are going to keep your phone for longer, then choose a higher capacity model as they retain their value a lot more effectively.
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Make sure you wipe your phone before recycling it to prevent old data getting into the wrong hands.