Buzz
When a new version of a product is launched, the older model typically loses its value. This is especially the case with smartphones. During the buzz around Apple's iPhone 6 release last week, uSell.com decided to track the price drops of older iPhone models.
uSell analyzed the prices of thousands of used iPhones listed on its platform after the 2013 iPhone launch. Kiplinger shared their findings:
Two weeks following a new release, the value of older iPhones falls by approximately 11%.
Four weeks post-launch, the depreciation reaches about 15%.
Six weeks after the launch, the value decreases by around 18%.
By the seventh week, the drop is about 21%.
It’s clear that the value of older models declines over time. What’s interesting is just how much it drops. This information is useful when considering when to sell your old phone. Alternatively, if you're looking for a used iPhone 5, you might want to wait six or seven weeks after the iPhone 6 hits the market on the 19th to secure the best deal.
For more information, be sure to read Kiplinger's complete article.
Image credit: Yeray Hdez Guerra.
