The launch of a new Apple iPhone is always an exciting time – the reveal on-stage with the glossy launch videos and dulcet tones of Sir Jony Ive, which confirm which rumours were accurate, and which rumours were very wrong.
However, for anyone who already owns an iPhone, it's likely to result in some bad news, too, as each new iPhone launch brings about a drop in value for older generation handsets. According to research conducted by resale website musicMagpie, your iPhone could lose as much as £220 in trade-in value following the launch of the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max.
The musicMagpie research reveals that resale value could dip by as much as 30% on older models. By studying the trends around previous Apple launch events, the biggest losses will be for those with the most expensive smartphones.
For instance, if you paid £1,449 for the Apple iPhone XS Max (512GB) SIM-free when it launched, the phone is now only worth around £710 at trade-in. Based on the trends seen in previous years, musicMagpies believes that could drop by as much as £219. That would bring its worth down to £511 – roughly a third of its original price.
Another example cited, Apple iPhone 8, currently fetches some £260 at trade-in when in good condition. According to musicMagpie, it will lose £78 in value.
So, if you're looking to upgrade to the new iPhone, the best advice is to trade-in as soon as possible. Unless you're planning to use the trade-in service offered by Apple, which will not fluctuate its pricing between now and the launch.
iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max will be available to pre-order from 1pm today, Friday September 13, 2019. The first units will ship – or be available to collect in-store from Friday September 20, 2019. Find the latest contract pricing for the handsets as they're announced later today...