When you’re looking to upgrade to the latest smartphone, selling your old handset can be a great way to raise some extra cash to fund your new purchase. And if you want to get the best deal possible, knowing the best time to sell your phone is key.
Enter your handset in the tool below to see how quickly your smartphone is losing value and when you should be looking to sell.
As you can see, phones lose a lot of their value over time. If you want to get the best price for your phone, your best bet is to sell it as soon as you can.
Like most technology, smartphones lose their value over time. As new models are released with improved features and capabilities, people start to lose interest in older models, and with this decreased demand comes a dip in value.
However, this depreciation doesn’t always happen at a steady rate – certain things can cause sudden drops. Knowing the best time to sell your phone can help make sure you get the most money possible.
Announcements and new releases have the biggest impact on phone depreciation. In the weeks following the release of a new handset, you can expect to see the value of older models drop considerably. So, if you have an old phone you can use in the meantime, or can go without for a few weeks, it could be worth trying to sell your current handset just before the new one is scheduled to be released. You can expect to earn up to 25% more if you trade-in your old iPhone ahead of Apple’s Key Note, for example.
Obviously, this won’t be possible for everyone. Not everyone has an old handset just lying around that they haven’t already sold. If that’s the case, selling your phone as quickly after the new release as possible should help you get the most value for it.
Out of all the manufacturers we tested, Apple performed best, with their phones losing an average of 45% of their value in the 12 months following their release. Coming in second place was Samsung, with their devices losing 62% on average over the same period.
At the other end of the table is OnePlus. A relative newcomer to the smartphone market, it’s not good news for fans of the Chinese handsets, with models losing almost all of their value after 12 months – a whopping 97%!
The iPhone X has held its value higher than any other smartphone released in recent years, a trend that has been seen more often with Apple’s higher end models. Since it was first released, the iPhone X has held on to 68% of its original value.
Coming in last place is HTC, followed by newcomers Huawei and OnePlus. In the first year of release, the HTC Desire 820 lost 95% of its value, while the Huawei Honor 5X and OnePlus One both lost 94%.
If you’re looking to raise some extra cash to put towards a new handset, see how much you can get when you sell your phone today.