A new report reveals that used iPhone sales have surged by a whopping 28% compared to the same period last year. This increase is attributed to the fact that iPhone owners are liberating funds to make the purchase of an iPhone 16, with the peak seen on the day following the keynote event.
The data indicates that the iPhone 16 is likely to be a more sought-after upgrade compared to both the iPhone 14 and iPhone 15. However, there is a rather surprising twist.
SellCell, a company that allows iPhone owners to lock in a price for their existing phones when planning an upgrade, reports that this year, a significantly higher percentage of people are taking advantage of this service. The year-on-year increase was particularly notable on the day of the keynote, reaching 26.6%, and then further rising to 31.7% the following day.
SellCell’s data examines the trade-in sales in terms of volume and value, based on the Apple Reveal day on 9th September and the subsequent day, 10th September. This data is then compared to the reveal date of the iPhone 15 (September 12th 2023) and the following day (September 13th 2023). By analyzing the total number of sales across 40 phone buyers, it is determined whether there has been an increase in sales between these two periods compared to the previous year.
The findings clearly show that both on the launch date and the following day, there was a significant uptick in iPhone trade-in volume and values. Trade-in volume experienced a 28.8% increase during the iPhone 15 launch, and the value of trade-ins was 38% higher compared to the launch of the previous year.
One of the most intriguing aspects is that the model that was sold in greater quantities than any other was the iPhone 15 Pro Max. Early data suggests that iPhone users with this premium model are more likely to trade in their devices ahead of other owners. In fact, 27.2% of the total iPhone trade-ins during the early launch period came from iPhone 15 Pro Max owners. This is followed by iPhone 14 Pro Max owners, who likely reached the end of their two-year contracts, accounting for 15% of the trade-ins by model.
One might expect that owners of the most expensive model in the lineup would be less inclined to upgrade compared to others. However, the explanation could be that those who can afford the most expensive model are also the ones who can more easily afford an upgrade after just one year. Or perhaps, as one commenter suggested, it is those of us with a bit more disposable income and perhaps a less cautious approach to spending.
Pre-orders for the iPhone 15 Pro Max open tomorrow, but you can prepare in advance.
Photo by Amanz on Unsplash.
