If you’re one of the people who bought an iPhone 8 and regret it, now’s the time to trade it in.
Those who trade-in their iPhones before Friday, when Apple starts offering the iPhone X on pre-order, could get as much as 30% more in trade-in value than they would after the pre-order date, Decluttr, a company that buys and sells refurbished handsets, said in a statement this week. Declutter CMO Liam Howley said that “all older phones will drop in price” once the iPhone X becomes available to order.
According to Decluttr, the iPhone 8 Plus Apple released last month can fetch as much as $630 in trade-in value if it’s in good working condition. Apple’s iPhone 8 is worth up to $500, and the iPhone 7 released last year could net customers $347. Those figures are expected to drop considerably after tomorrow because of the iPhone X.
Apple (AAPL) announced the iPhone 8, iPhone 8 Plus, and iPhone X at a press event last month. It released the iPhone 8 and iPhone 8 Plus a little over a week later. Apple’s iPhone 8 starts at $699 and the iPhone 8 Plus goes for $799 to start.
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Since their release, the iPhone 8 and iPhone 8 Plus have been hobbled by lower-than-expected demand among consumers who have been more interested in the major iPhone X upgrade, complete with a Face ID facial scanner and big display. Market analysts say there is massive pent-up demand for iPhone X, and pre-orders could top 40 million units. The problem for Apple, however, is that it’s only expected to have 20 million units available through the end of the year.
Apple’s iPhone X will be available for pre-order on Friday and will hit store shelves on November 3. The smartphone, which costs $999 to start, is the most expensive handset Apple has ever released.
However, by trading in old iPhones, customers could defray a significant portion of that cost. A traded-in iPhone 8 Plus, for instance, could bring the iPhone X’s net price down to $369.
While Decluttr’s Howley didn’t say how many people are actually turning in the iPhone 8 for the iPhone X, he did say that the numbers were somewhat high.
“Many customers have obviously decided that they would prefer to sell the iPhone 8 while its value is at its highest…and put the money towards the new iPhone X,” he said.