Apple iPhone 5 announcement sparks a 362% increase in trade-ins
CompareMyMobile.com, a mobile recycling comparison site, reports a sudden rush of Apple iPhone owners valuing their old iPhone models. In the last week up to 80% of the websites visitors have been looking to recycle their old iPhones, this data greatly overlaps the trends from October 2011 when the iPhone 4S was announced.
CompareMyMobile has informed us that, if in fact the figures continue to match that of 2011’s iPhone 4S release, owners of iPhones considering trading them in should take note of the following points to ensure they get the values they deserve:
– Trade-ins are expected to increase by 3-400% during the announcement and release period.
– Based these statistics, the iPhone 5 release will decrease the average value of ALL old iPhones by up to 15%
– Last years iPhone 4S release devalued the top 5 iPhones by Â£181.34 in 14 days!
– With over 40 phone recyclers in the market, there is an average 41% price difference between the top and bottom price offered (Totalling Â£396.50 on the top 5 devices) meaning by not comparing they could miss out on the devices true value.
Beware of stores offering ‘Top prices’ and ‘Price guarantees’. These are normally riddled with terms and conditions and when you actually take the time to compare recycling stores, online auctions and selling locally. 9 times out of 10 you’ll find that their offers aren’t as beneficial to consumers as they promote.
What do the experts say about avoiding these price drops?
The answer is quite simple actually. Once the date is confirmed for release by apple you can place a sale order on a recycle website, these orders are no obligation and once placed reserves the price from that day for up to 14 days. By using this tactic you can aim to get the freepost bag to arrive at your house before the iPhone is released.
Once you have the new device you can transfer the apps and data across, perform a factory reset on the old model and post it off. CompareMyMobile.com reports that historically people are even using phone-recycling services to buy out of their old contracts and upgrade to the new tech they desire.
Andrew Beckett, Co-founder and Commercial Director of CompareMyMobile.com says:
“People are realising that by using a service like comparemymobile to recycle their old mobile phones, they can get cash upfront to offset, or even buy out their current mobile contracts to upgrade sooner as well as purchase premium devices with higher memory storage.”
Alternative methods to get a good sale price from your mobile.
You can look to alternate avenues to trade in your old mobile, for example online auctions like eBay will always return a good amount of cash for your old devices. Tip: Just be aware of the listing fees and online scams if you’re a new user to eBay and similar sites.
Another option would be to choose to sell your device locally. You can see if your friends and family would like to buy your phone from you. For example: Checking the second hand price out on eBay then advertising it on Facebook or Gumtree.
CompareMyMobile.com plans to launch a price freeze with 2 of the UK’s best recyclers for 28 days instead of the standard 14. This should provide people enough time to place a recycle order now, then wait to get their new iPhone 5. This should avoid people getting stung as bad as last year’s iPhone 4S customers in the sudden drops in value.
Why not check out how much your iPhone is worth now? Compare My Mobile is an independent and impartial phone recycling comparison website that has helped its users recycle and earn Â£38 Million in the past 3 years.