When's the best time to trade in your iPhone?

Looking to trade in your old iPhone? If you want to get the best trade-in value for your device, knowing when to act can make a big difference in how much cash you get back.

If you're looking to get the highest value for your device, rumor has it that now is the perfect time to trade in your old iPhone. Why? Because after Apple releases its new line of devices later this month, the price of older models drops, and in turn, so does the resale value.  Thanks to some global trade-in data from Back Market, we’ve put together some insights on the best time to upgrade your iPhone (with a refurbished device, of course) no matter where you are in the world. Keep reading to find out more.

What influences the value of an iPhone?

It’s pretty simple; the trade-in value of your iPhone is largely influenced by major events in your local country and the tech world at large. Following Apple’s annual Keynote presentation on September 9 and the release of new iPhone models, there will be a price shift across major markets, including the US, UK, France, Germany, and Spain. 

Once the latest iPhone hits the market, the value of older models typically drops by 15-20%. 

When we’re detecting trends, we can also see a global increase in iPhone trade-in values from April to June. We predict this is because sellers are often looking for more stock, so they offer a higher trade-in price to entice customers. 

Here’s a little breakdown of our phone grades for sellers:

• Functional, flawless

• Functional, good

• Functional, used

• Functional, cracked

• Not functional, not cracked

• Not functional, cracked

The newer the model the more money you get

Sounds obvious, right? We're seeing a global trend that if you trade in your phone within the first 2 years, you'll often receive the highest trade-in value for your phone. But it depends on what condition your device is in. If it's pristine and doesn’t have any wear or tear you’ll receive the most for your phone. If you’ve only had it for 2 years but dropped it down the toilet a few times, you might not be so lucky. There is one outlier. The iPhone 15 series is the first lineup in the model's history to lose more than half of its value in the first 12 months. Why is this happening? Because there is a surplus of stock in the market, meaning there’s less demand. 

Seasonal sales events

If you’re trying to get the best trade-in value for an iPhone, keep the holiday season in mind. The weeks leading up to Black Friday, Cyber Monday, and Boxing Day sales (in the UK) also impact trade-in values. In most regions sellers are looking for stock to help capitalize on these giant sales periods, leading to temporary increases in trade-in offers.

Here are some further local trends we’ve spotted at Back Market. Take a look at these graphs from sales in each of our global territories to find out the best time to trade in, wherever you are.

• September

• October

In the US, iPhone values start rising from August through October, which seems to be due to the Apple Keynote in September and people wanting to trade up. You can still get a good deal a little after Keynote too, where a lot of refurbishers are eager to get in on the supply from people selling old phones after upgrading to the latest model. 

• August

• September 

• October

Similar to the US, many shoppers seem ready to make an upgrade around the Apple Keynote event. Looking at the data the value of newer models (iPhone 13 and above) increases because suppliers are ready to pay more in August for more stock ahead of the Keynote.

• June

• July

• September

• October 

• December

In France, suppliers buy stock for older models (iPhone 12 and below) throughout June and July to stockpile ahead of the gifting season. September to December also shows an increase in iPhone value, particularly for the newer models (iPhone 13 to 15) because of... you guessed it, Apple Keynote. 

• March

• September

• November

• December

In Germany, March appears to have a surge in iPhone value as vendors start to build their stock ahead of the major gifting season. The peak returns for the last quarter of the year during holiday season.

• April

• May

• August

• October

• November

In Spain the value of iPhones increases during August, October, and November in a similar pattern to the other markets. 

iPhone trade-in values across the globe with Back Market (August 2024 average)

Let’s recap. If you’re thinking of trading in your device these are the key things you need to consider. 

1. Are new models about to be released? Make sure you trade in your phone before or right after a new model is released to ensure you get the most cash back for your device before the value drops. 

2. What’s the condition of your phone? If your device is showing signs of wear and tear, it might be worth trading it in sooner rather than later because the better the condition of your phone, the higher the trade-in value. The value of your phone will drop between 15-20% 

3. What’s trending? Companies typically offer deals or higher trade-in values during periods like back to school in September or the holiday season to incentivize spending,

4. What do you really want? If your current device isn’t functioning or meeting your needs, maybe now is the time to trade in and explore something different. 

Explore Back Market for the best deals on Verified Refurbished tech.