Remember when we told you about all of those price lock offers that would guarantee a good price for your used iPhone 6 and iPhone 6 Plus even after the iPhone 6s was announced? Well, you should have paid better attention because now you’re too late: The value of used 2014 iPhone models is plummeting as resale rates skyrocket ahead of this Friday’s iPhone 6s and iPhone 6s Plus release.
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UK-based CompareMyMobile, a site that allows consumers to determine the value of their used smartphones across several used gadget buying services at once, just released a new study that analyzes iPhone 6 and 6 Plus resale value over the past four weeks. As expected, iPhone 6 and iPhone 6 Plus prices are now plummeting as the iPhone 6s launch approaches.
What is somewhat unexpected, however, is the fact that resale value has plummeted by a record amount.
Last year’s iPhone 6 and iPhone 6 Plus were the most hotly anticipated iPhones ever at that time. Apple finally decided to launch iPhones with larger displays, leading to record iPhone sales in each quarter since the phones first debuted.
Despite the fact that this year is just an “S” upgrade, the percentage spike in trade-ins ahead of the iPhone 6s launch is greater than it has been in any previous year.
What’s more, CompareMyMobile says that the iPhone 6 and 6 Plus’ value has plummeted more than any iPhones before them. The firm’s data begins two weeks prior to each iPhone’s unveiling and compares those volumes and prices to two weeks after each new iPhone is announced.
“The trade-in value of an iPhone 6 plunged by 16% just two weeks after the iPhone 6S [announcement],” the company said in a press release. “This compares to a mere 7% drop in the trade-in value of the iPhone 5S in the two weeks after the iPhone 6 was released in 2014.”
The firm added that trade-ins of the iPhone 5s, iPhone 6 and iPhone 6 Plus have each at least doubled in volume since Apple revealed its new iPhones on September 9th.
