Apple’s spectacularly successful iPhone 4 launch has had a profound effect on the second-hand iPhone market as well.
Since the 4 was introduced some ten days ago, the second-hand marked has been flooded by tens of thousands of 3GS models. Since most Apple users are fashion conscious and smug, many of the handsets are in excellent condition and they are still quite an attractive offering. The phones that is, not their users.
According to the San Francisco Chronicle, second-hand electronics site Gazelle.com purchased 20,000 old iPhones over the past two weeks. Usually the site buys around 350 a week. As of Friday, the site is paying $168 for a 32GB 3GS in pristine condition. Two weeks ago, it was offering up to $304.
Ebay has also been inundated with iPhone 3GS offers. Thousands have appeared over the past days and prices are plummeting steadily. iPhone 3GS units can fetch anywhere from $350 to $450, depending on storage capacity and condition. However, eBay has also seen an influx of resellers keen on making a profit on the new iPhone 4 and with an average selling price of $942 business seems to booming.