Recommerce site Decluttr.com says it’s experienced a surge in iPhone 6 trade-ins as consumers anticipate the launch of Apple’s “iPhone 7” next week. The company is reporting a 73% boost in the past month alone, and is predicting an influx of the iPhone 6 and 6s models will be traded-in following Apple’s press conference scheduled for Sept. 7.
The site, which offers cash for unwanted smart phones, DVDs, CDs, video games and electronics, believes the increase comes from consumers’ desire to make additional cash to purchase the upcoming iPhone. Data from Decluttr has shown that once a new Apple model is announced, the predecessor can lose up to 12% of its value the week after the announcement, so consumers frequently act fast to get the highest trade-in value. Typically, smart phones can lose up to 65% of their value after just a month of being released, according to the recommence site.
When the iPhone 4 was launched in 2010, it was valued at $599, according to Decluttr. By the time of the iPhone 5 announcement in 2012, the trade-in value had dropped to $102 – losing 83% of its original value. The iPhone 5s experienced a similar devaluation. Valued at $749 when it launched and plummeting to just over $390 after the iPhone 6’s launch. That’s a loss of 58% of its value in just 24 hours.