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wowman (82)Beating The Coming Phone 4 Resale Value Plummet
Posted by CharlesMoore on Friday Sep 23, 2011 Under iPhone 4, iPhone 5 PredictionsWith the new iPhone, in whatever form it ultimately materializes, coming October 4 — according to Al Gore — current model iPhone 4 resale values can reasonably be expected to take a nosedive.
CNET’s Josh Lowensohn reports that many iPhone 4 owners are opting to sell them now to beat the anticipated price plunge that will follow the new model announcement(s), with http://www.gazelle.com/ third-party electronics trade-in service Gazelle telling him that people trying to flog their used iPhone 3Gs, iPhone 3GSs and iPhone 4s have spiked up 84% compared with two weeks ago.
“This launch has been so delayed and overdue, there’s definitely a lot more of a hype,” Anthony Scarsella, Gazelle’s “chief gadget officer” told Lowensohn in a phone interview. “For us, this is really an unprecedented behavior, as gadget owners always wait–usually until a new product is announced — to trade in.”
THe tricky part of getting a jump on the price crash is of course what to do for a handset in the interval between selling and getting one’s hands on the new model (which may be announced before it’s actually available, although Apple is rumored to be building stock this time prior to the announcement in order to prevent a replay of what happened with the iPad 2 last spring), at least for folks who don’t have more than one phone.
Anyway, Lowensohn says Gazelle is offering a 30-day price lock, guaranteeing the price even if it goes down during the time lag between making the provisional transaction and the device reaching Gazelle for inspection.
Selling Your Old iPhone
AppleHeadlines’ Brian offers some tips on getting top dollar for your old iPhone, including:
• Stay jailbroken
• Wait till Apple signals a forthcoming announcement and then act act quickly, which would mean soon if Gore was correct, although you might need a tide-you-over cheapo phone for a few weeks
• Craigslist, not eBay, based on Brian’s personal experience
He also has some interesting analysis of pricing.
Speaking of which, this graph from NextWorth, another consumer electronics trade-in service, shows how trade-in values will likely start to drop rapidly prior to, and after, the new iPhone announcement.
To help consumers make an informed decision about when to trade in their current model, NextWorth looked at what happened after last year’s iPhone 4 announcement and the subsequent decline in trade-in values of the iPhone 3G and 3GS.
The data show that trade-in values of previous phone models begin to drop even before the actual announcement of the new version (now, in this instance).
Noting the potential difficulties associated with trading without the new model available for purchase, NextWorth will lock in a trade-in value for 21 days, so users can start trading now in anticipation and not be without a phone, or at least be without it for a shorter time.
September 23rd, 2011 at 3:26 am
There will be no point selling my 3G if all we are getting is a repolished IP4. It’s probably not worth much anyway so I might as well keep it locked in a drawer for years until it becomes more sought after as a collectors item!
I have said before that I don’t like the form factor of the IP4, it just isn’t for me so if needs be I’ll wait for the next full upgrade, even if that means a 2012 release.
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September 23rd, 2011 at 5:17 am
I will sell my iphone 4 soon .and get iphone 5…
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September 23rd, 2011 at 6:04 am
I’ll give the 3G to my daughter, she won’t mind slow as much as me.
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September 23rd, 2011 at 6:22 am
New Apple patent released which shows Apple’s concept for future wireless communication.
I posted this in the iPhone 6 news blog too as I wasn’t sure where it fitted but as it’s still quiet here you might as well take a peek:
http://www.patentlyapple.com/patently-apple/2011/09/future-iphones-will-communicate-with-parking-meters-doors-more.html#more
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September 23rd, 2011 at 7:10 am
Just last week,I sold my unlocked Ip4 £370. Then,I chipped another £70, and bought an unlocked Galaxy S II. This will hold me over, until we actually see what the next Iphone(s) is. If it turns out to be a refreshed Ip4, then I’ll wait for the Ip5 or Galaxy S III, which ever offers more bang for the buck. We’ll see what the future brings, huh?
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September 23rd, 2011 at 8:45 am
I am giving my 3GS to my son to use as an iPod. It will work good enough for him that way. He’s six, so speed isn’t an issue for him! LOL!
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September 23rd, 2011 at 9:07 am
So what do we make of today’s Digitimes report?
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September 23rd, 2011 at 9:12 am
My white 16G 3GS is beat up. It runs great, but would provide no value at trade-in. Like previous comments, upon upgrading, it will be going to one of the kids as a pocket game console/iPod. I am still considering holding on to it for a while if:
1. The next iPhone is a marginal upgrade of the iP4
2. The insanity around buying/acquiring an iP5 is overwhelming. Standing in a long line or being among an enormous crowd at the Apple store is not for me.
I am not considering another smartphone maker, as I have devoted too much time in creating a robust iTunes and have spent a lot of money on apps. My 3GS works as well as my wife’s iP4 and I’ve faced it that I don’t have to be that careful with it. Battle scars are cool.
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September 23rd, 2011 at 9:29 am
My 3G is slated to be an iPod touch. I can’t see going through the trouble of selling it. I love the collectors item idea. Too bad there are millions of them.
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September 23rd, 2011 at 9:46 am
My oldest kid just got a AT&T iPhone 4 for 250. With car charger and a case. Good deal.
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September 23rd, 2011 at 9:53 am
OH Iphone 5 Were are you ….are you hiding….Icant see you….. please show yourself… we need you please…….
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September 23rd, 2011 at 9:57 am
I had this idea myself, and sold my Verizon iPhone 4 two weeks ago for $350, which will cover the cost of upgrading when the iPhone 5 comes out. I had to go to an old phone while I’m waiting, which has been terrible. Come on Apple, let’s go already!
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September 23rd, 2011 at 10:42 am
LOL! I can’t stop laughing at Bob’s comment! He’s too funny!
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September 23rd, 2011 at 11:04 am
Bob… I completely read your post in the voice of the turrets from Portal. Interestingly, they are deployed in Apple White.
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September 23rd, 2011 at 12:25 pm
In June, I sold my black 3GS 16 gb for $300. It was jailbroken and unlocked. Considering its price kept lowering, I think I made out with a steal.
I wouldn’t recommend Craigslist over eBay. There’s nothing better than having people bid against each other. There isn’t any bidding on Craigslist and you’ll also [probably] receive more money if you sell your unlocked phone on eBay because of those international bidders.
I also wouldn’t fear selling the iPhone 4 and not receiving as much as you’d like. Chances are that the iPhone 4S/5 will be so hard to come by that an out-of-contract unlocked/jailbroken iPhone 4 will still fetch lots of money.
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September 23rd, 2011 at 9:56 pm
i wonder if i jailbreak and sell my old iphone will i get more money on it
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September 24th, 2011 at 6:18 am
@Josh-I was actually pondering the same thing before selling my sim free Iphone 4. In the ad, I just presented the option that I would jailbreak the phone if so desired. This way, I was presenting options, so to widen the chances of getting top dollar. As I stated, I sold it for $575 unjailbroken, as it turned out. Btw, I brought a sim free Galaxy S II with the money. Great phone too imo.
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September 24th, 2011 at 11:52 am
There are guys on iPhone boards that say they always buy the new iPhone models because they always sell the previous ones. Whether or not they buy the new ones on release day is a different story. I plan on being one of those guys now.
I sold my 3GS for $300 and got the white IP 4 32 GB for $200, resulting in a +$100. I’m pretty sure I can sell the white IP4 for $500, considering IP5 will be so hard to come by. Even if the out-of-contract price for the IP5 is $600 or even $700, if I sell the IP4 for $500, that’ll cost me $200 — the same price it would be if I upgraded from the 3GS to the IP5.
If I apply the $100 I made from the 3GS, then my actual cost for the IP5 will be $100. You gotta love eBay!
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September 26th, 2011 at 3:59 pm
The price drop before the announcement in the graph may not exist. The negative trend only exists because of the obvious expected price drop after the announcement and the very low number of sample points. It is unknown how much of this drop occurred before or after the announcement.
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