Does anyone else get whiplash from how fast tech companies crank out the latest and greatest versions? While it makes sense to sell your older version in order to make room in your wallet and on your charging dock for the new device, it turns out we’ve been doing it wrong.
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The website uSell.com is helping consumers get more for their gadget re-sale with a few insider tips, just in time for the announcement of the newest (budget?) iPhone. Apple has set the date for a probable next generation iPhone announcement on Tuesday September 10.
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Old iPhones lose their value after the announcement of a newer version. While your current iPhone will only lose about 5% of its resale value one week after the new one launches, after three or four weeks it depreciates by 20%. Should you choose to sell your iPhone 5 before September 10, according to uSell, you could potentially make $72 more than if you sold the same phone three weeks after the launch. By the same guidelines, an iPhone 4S is worth approximately $46 more now than three weeks after the launch, and the iPhone 4 could get you $29 more.
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Nik Raman, Chief Operating Officer of uSell.com suggests that “a savvy consumer could lock in a sale price before September 10, but then wait to ship their old phone until right after they get their new model.” Right now, according to the website a used, but in good condition iPhone 5 can command upwards of $220. If you took that payday and then turned around to purchase the new iPhone (assuming the new one enters the market at $649, the cost of the current version without signing a two-year contract), you’d shave about a third of the cost!
Would you consider selling your iPhone in order to make money?
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