Just like your house or your car, your smartphone holds a lot of opportunities for you to not only grow as an owner but to become richer as well. How, you may ask? Wise technophiles have developed this habit of acquiring multiple gadgets that they sell after six months or a year. This way, they not only get the chance to experience the wonders of new technology, it also gives them a few extra bucks for their gadgets. The most common gadget these people cash in on is the iPhone, Apple’s premiere smartphone.
Now that the rumor mill for a new iPhone has churned out some quite believable information, including a September 12 release, people are now scurrying to cash in on their iPhones! But how exactly do you during these times of perplex buying and selling? In this article, we will review the current status of the iPhone market and how to make money out of it!
The Situation: Critical Days for Selling an iPhone
Before you start counting your money in your head, you have to know exactly what it means to sell used iPhone. The first thing every iPhone seller must note is that it’s all about the device and the timing. Studies about the iPhone selling scheme show that when a new iPhone is rumored to be “released soon”, there are trends that follow the churning of the rumor mill.
For example, days after the iPhone 4S was unveiled in an Apple event last October, the resale prices for the iPhone 4 dropped steadily but not so much as to prevent people that wanted to from doing so. When the iPhone 4S was officially released in the market 10 days after the unveiling, the resale prices for the iPhone 4 dropped steadily still but not so much as to raise a lot of eyebrows.
The biggest drop in iPhone 4 resale prices was not in October, but in September while the press was churning out reports of an October 4 release for the ‘purported iPhone 5’ that turned out to be iPhone 4S. The reports were out by September 21 and had prompted a huge demand for an iPhone resale. At this point, people who wanted to found out that their iPhones had lost $70 in resale value.
While it can be said that we are at the same point as last year because of the rumors of an iPhone 5 release by September 12, the resale prices for an iPhone 4S remains stable. That’s because despite the fact that big iPhone retailers like Target and Best Buy are cutting off prices for the iPhone 4S, the reports of an iPhone 5 release in September remains unconfirmed. Thus, it could be said that the best time for planning to would be today until the end of this month. The best step to undertake now is to prepare your device and keep your ears open for more rumors about the iPhone 5 release!