The iPhone 16 event is set for September 9th, as Apple sent out press invitations earlier this week. If Apple follows its usual launch schedule, the iPhone 16 release date will likely be September 20th, with preorders expected to start on September 13th.
For those considering an upgrade to one of the four new iPhone 16 models, it’s good news that Apple is not expected to raise prices this year. However, iPhones, especially the Pro models, remain expensive. Trading in your current iPhone could help offset the cost of a new one.
Read more: Apple finally listens: iPhone 16 to feature user-friendly battery replacement
According to new data from SellCell, trading in or selling your current device before the iPhone 16 launches could maximize your return. SellCell, which runs a marketplace for used devices, recommends trading in your iPhone about 14 days before the release of the next model. With the iPhone 16 likely launching on September 20th, this makes September 6th the ideal date to sell older iPhone models to get the best value.
Selling your iPhone after this date could result in a loss of up to $100. However, SellCell’s findings mainly apply to certain models. For example, last year, a 1TB iPhone 14 Pro Max traded in 14 days before the iPhone 15 release would have earned $104 more than selling it when the iPhone 15 shipped. Selling it 28 days before the new model’s launch would have fetched an extra $29.
Read more: Rumors suggest iPhone 16 models will not have the Dynamic Island display
It’s worth noting that not all older iPhone models depreciate at the same rate. Generally, the older the iPhone, the less significant the value drop when a new model is released, unlike the more substantial depreciation seen in last year’s models.
Also, the storge is a key factor here. The 1TB iPhones are the most expensive models in Apple’s lineup.
But how do you trade in an iPhone 14 days before receiving the next one? What are you supposed to do until then? SellCell suggests going for a service that lets you lock in a trade-in price valid for 30 days. That way, you’ll hang on to your current iPhone until the iPhone 16 ships to your door.
The problem with this approach is that the iPhone 16 you’re eying might sell out. I’ll also point out another issue the study doesn’t address: your carrier might offer you a better trade-in deal than services that help you trade-in or resell the handset. You should always check with them if you’re considering a trade-in.