Via Yahoo Finance

With millions of Britons sitting on unwanted smartphones and gadgets, there are potentially hundreds of pounds of old electronics lying around people’s homes – but anyone with an old iPhone may want to trade it in soon.

The price of old iPhones, including the iPhone XS and iPhone XS Max, are expected to peak shortly before the release of Apple’s anticipated iPhone XI (or iPhone 11, depending on what name Apple ultimately goes with).

Used iPhones immediately lose a large portion of their value when they are first sold. Afterwards, many old devices see small bumps in their price, in particularly just before the latest iPhone is released.

The best time to sell your old iPhone

According to research by Compare and Recycle, the largest drops in price happen as new models are released or just before release. 

Prices soften after a new phone is announced and then fall significantly after the release date.

After a dip through summer in June and July, prices rise again for most iPhone models in August every year, meaning that now is a great time to get a good price for your unwanted smartphone.

There is a dip in June and July, then an uplift in offer prices for most iPhones in August every year.

Currently demand will be near its highest with buyers usually paying a premium for models in good condition.

Which iPhone has held its value best

The iPhone Plus and Max models hold their value much better than basic models and models with less storage.

Devices hold their value best during their second year after release, possibly because they are viewed as new enough to be up to date. However in the following years they depreciate in value fast.

If you’re the type of person who likes to upgrade your smartphone every year, smaller capacity phones are a safe bet as they tend to suffer less depreciation in the short-term.

However, if you prefer to use a device until it stops working, it would be wiser to plump for a phone with more storage. Although these cost more, they do retain their value for longer than other models.

Where to trade in or sell your old iPhone

You can trade-in your old iPhone with mainstream retailers and phone companies when you buy a new phone.

Apple and outlets such as Carphone Warehouse also offer up trade-ins for your current handset which is in good working condition.

Tech recycling websites have taken off in recent years and offer competitive prices in return for your unwanted iPhone.

Websites such as MusicMagpie, We Buy Any Phone, and Envirofone all are some of the most popular websites where you can look to get the most for your device.

Advice for buying a second hand smartphone

Buying an old smartphone is not for everyone, but you can get a good deal on an older device. Ultimately, the old phone may not have the battery performance it had when it was first made.

eBay offers advice saying if the price is too good to be true, it probably is. Look for visible wear and tear, although small scratches are to be expected. Buyers should ask if the device has been kept in a protective case. 

Also check about issues with water damage. If in doubt ask to be shown the headphone jack (on an iPhone 6s or iPhone SE). If it’s pink in colour, it could mean the device has suffered water damage.

You can find the Telegraph’s advice on selling an old iPhone online here.

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