Apple and its consumers are getting ready for the launch of the new iPhone 15 – rumored to be happening on September 12.
And experts are advising anyone eager to snap up the latest phone to trade in their old model now, as the closer it gets to launch day, the less they can expect to make.
Phone trading company Sellcell is predicting that trade-in prices will drop 16 percent post-launch of the new handset.
Envirofone is also chiming in, suggesting a 16 percent drop in trade-in value for the iPhone 14 Pro in the weeks leading up to the hotly anticipated release.
The average iPhone 14 Pro sells for around $820 at the moment, but post-launch, that could plummet by $130.
The iPhone 14 was released in stores in September 2022
Apple stores around the world continue to sell all versions of the iPhone 14 as they prepare for the highly anticipated release of the 15
In the past, older iPhones have lost between 60 percent and 65 percent of their original recommended retail price (RRP) by 28 days before the launch of a new model.
That means the ideal time to sell your old handset is before August 26.
After that, prices are expected to drop further.
And if you delay until October, the picture is even less pretty.
But while trading in an older model a month early might seem worrisome, it is important to note that you won’t be left without your phone.
Companies make an agreed trade-in price for a set amount of time – delaying the sale without losing trade-in value.
However, if you manage to break your handset in the meantime, the deal is off.
The trade-in values of iPhones vary depending on the version, and are subject to change
The iPhone 14 and iPhone 14 Plus originally sold for $799 and $899
The iPhone 15 is said to be bringing new features to the table, including USB-C charging and a titanium frame.
The Dynamic Island and the A16 chipset from the iPhone 14 Pro will also be part of the upcoming model.
A programmable action button has been added to replace the mute switch – a first for any version of an iPhone.
Buyers can also expect to see a periscope lens, which is a system that uses a prism and a series of lenses to increase the zoom capabilities without making the phone thicker.
That feature will be exclusive to the iPhone 15 Pro Max.
However, all those new bells and whistles come with a significant increase in prices – the iPhone 15 Pro Max is retailing for $1,299.
Other versions will include the 15 Plus, with a larger screen, and the faster 15 Pro.
