When is the best time to buy and sell used iPhones?

When is the best time to buy and sell used iPhones?

iPhone price analysis 2015: Find out what your device is worth second hand

Wednesday, September 2, 2015 — The presentation of the new iPhone next week will mark the start of high season for used Apple products on second hand marketplaces. A recent iPhone price analysis from Shpock (“SHop in your POCKet”) outlines the best times to buy and sell pre-loved devices.

90,000 iPhone sellings evaluated
More than 10 million people are using Shpock (www.shpock.co.uk) to discover or sell used products in their neighbourhood. Among the best selling items on the mobile marketplace are various models of iPhone. That’s why Shpock has undertaken a huge inventory and examined the sale of around 90,000 iPhones[1] to determine which months are most lucrative for sellers and when is the right time for buyers to snap up a bargain.

“Used iPhones, when seen in comparison with other products have quite a stable value" - Shpock co-founder Katharina Klausberger about the findings

For example the iPhone 6 had a market value of £447 in November 2014. Ten months later and that price has only dropped to £345. Older generations of Apple products are also maintaining a steady price. A two year old iPhone 5S is available for an average second hand starting price of around £192. 

Good things come to those who haggle
Just like a physical boot sale experience, prices on Shpock are negotiable.  “The analysis shows that those selling older iPhone models are more inclined to give a better deal”, explains Klausberger. With the newer models – iPhone 6 and 6 Plus – the final selling price is on average 14% lower than the original asking price. Compare that to the iPhone 5 and 5S, which are on average sold for 17% or even 19% less than the original asking price.

58% are sold within one week
If sellers list their used iPhones for a realistic price and are willing to negotiate they needn’t wait long for a buyer. The Shpock analysis found that in recent years 58% of all iPhones listed on the boot sale app were sold within one week. A closer look at the statistics reveals that current iPhones are sold on average six days earlier than older models (e.g. iPhone 5).

September, December and May are the best months for iPhone sellers
Whoever wants to list their old iPhone on Shpock to make money, should do so in the coming weeks. Until the next generation iPhone is released the current demand for used iPhones will remain at a constant. If sellers are planning to list their iPhones after the Apple release, it is best to hold off with the sale until December.

According to the Shpock statistics before and after Christmas are good weeks for sellers to get more money for their used iPhones. The month of May has also revealed itself to be a high point for those looking to cash in. “We have noticed, regardless of the type of iPhone, prices peak unexpectedly in May before continuing a downward trend,” says Shpock.

October and April are the best months for bargain hunters
Those on the lookout for a used iPhone at a good price should begin their search in October, says the analysis. After the launch of a new model prices for used iPhones drop sharply on the mobile boot sale app. Apple fans with a bit more patience can also wait until the end of March or the beginning of April to make an offer.

Tips for selling your iPhone on second hand market places:

  • Give a realistic price and a detailed description
  • Repair any damages before the sale and be honest about the phone’s condition
  • Be sure to mention if the iPhone comes in original packaging or with original headphones
  • It must be possible to unlock the SIM
  • Give a detailed reason for selling

[1] Analysis of a random sample of 90,000 iPhones, which were listed on the boot sale app Shpock between September 1, 2014 and August 18, 2015. Damaged devices were not included.

Shpock co-founder Katharina Klausberger
Shpock founders Armin Strbac and Katharina Klausberger
iPhone price analysis 2015
Header iPhone analysis Shpock