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Monday, 10 September 2012 08:27

Droves of iPhone owners looking to sell old devices

Written by Peter Scott

Unprecedented demand for iPhone 5 expected

Millions of iPhones are about to change hands and we are not talking about shiny new iPhone 5 devices.

An unprecedented number of iPhone owners are looking to sell or trade in their old devices and get their hands on a flashy new iPhone 5, USA Today reports. As the iPhone 4S was largely a cosmetic update and many iPhone 4 users chose not to go for it, they are expected to top the list of potential sellers.

The number of iPhone price quotes requested on nextworth.com over the past couple of weeks is a staggering 610 percent higher than the number of quotes prior to the iPhone 4S launch event last year.

As expected, iPhone 4 users make about one half of all quotes, while iPhone 4S accounts for about 20 percent. Nextworth exec Jeff Trachsel believes consumers probably do not want to trade in 4S devices as they are still bound by their two-year contracts. The remaining 30 percent are made up by 3G and 3GS models.

It is all good news for consumers who are the market for a used iPhone, however sellers could get burned due to unprecedented demand and depreciation ahead of launch. Although new iPhones tend to be quite pricey, getting a used iPhone 4 or even a 4S could be quite a bargain in the weeks ahead.

More here.

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