With the Apple Event taking place later today and new products and technology running the rumour mill, in-depth research has found that Britons have four days after the Event in order to trade-in their handset for the highest possible price, before it drops.
In the week leading up to the Apple Event, research has found that the highest depreciation is 6.9%, which increases to 14% five days after.
Research by the team at www.comparemymobile.com has found the best time for Britons to sell or upgrade their smartphones – which they have dubbed ‘Handset Transfer Deadline Day’ – ahead of tonight’s Apple Event, where they’re expected to unveil the latest iPhone.
For those looking to trade in their current handsets ready for the new one, research has found that smartphone users have just four days following the latest unveiling to sell or upgrade in order to get the best value, before the offers really start to depreciate.
In the week leading up to last year’s Apple Event and in the four days following the event, research showed that the value of iPhone handsets hardly depreciated. The five iPhone handsets that saw the biggest depreciation, up to 7%, were found to be:
iPhone 7 Plus, 256GB – £30 loss (down 6.9%)
iPhone 7 Plus, 32GB – £25 loss (down 6%)
iPhone 7, 128GB – £16 loss (down 4.3%)
iPhone 7, 32GB – £16 loss (down 4%)
iPhone 7, 256GB – £14 loss (down 3%)
This changed somewhat from day 5 onwards following last year’s Apple Event, where the cost of the handsets depreciated even more. The five iPhones that saw the biggest depreciation – with some jumping by almost 10% – were found to be:
iPhone 6s, 64GB – £38 loss (down 14%)
iPhone 5, 256GB – £55 loss (down 13.7%)
iPhone 7 Plus, 128GB – £55.10 loss (down 13%)
iPhone 7 Plus, 32GB – £45.95 loss (down 10.3%)
iPhone 7, 128GB – £30 loss (down 8.5%)
The good news for those looking to recycle is that you can lock in your offer and guarantee it for 14 days, so it is worth comparing offers now, which gives you a 14-day window to think about your options. The soon-to-be-dethroned iPhone X 256gb, is currently valued at up to £642.50* but even older models are worth considering, with 2016’s iPhone 7 32gb currently carrying a resale value of £236.10.
To gauge the excitement of the new handsets coming onto the market in 2018, The company behind Comparemymobile.com also surveyed 1,000 mobile phone users within the UK around their smartphone habits and attitudes. The study found that 34% of under 30s are likely to get the latest handset, compared to just 23% of those over the age of 30.
For those not fussed about upgrading, 71.8% want to stick to their current handset because they’re completely happy with it, whilst 47% don’t want the latest handset simply because it’s too expensive. A further 13.7% find that the latest handsets aren’t exciting and they’re waiting to be ‘wowed’.
James Barron, Mobile expert at www.comparemymobile said that with the suggestion that Apple are planning to up their price again to beat their own record for most expensive handset on the market, it’s no surprise that cost is a large factor in people not wanting to automatically upgrade.
“The Mobile industry has moved quickly over the last decade since phones got smart, but as better value providers catch up on big bang features, like high spec cameras, the average mobile user is not so impressed with the next model’s tinkering under the hood that they are willing to part with £1000 for the privilege,” he said.
“The fact is, new mobiles are now no longer something you can easily buy outright, and contracts with ‘free handset’ options are rising in tandem to offset the bigger handset costs, which does not make for an attractive proposition for users. This means it’s a lot harder to tempt people to commit to two years of contracted expense. Recycling your current handset is the easiest, common sense way to pay off the cost. An upfront payment towards the collateral of the handset brings down the monthly cost considerably, whether you are going all in with a new Apple or a better value alternative.”