If you're looking to sell your iPhone now is the time to do it.
When Apple announced the new iPad 2 on March 2nd 2011 everyone looked to unload their first generation 16 GB iPad. The sale price for a product on eBay is dictated by supply and demand. After the announcement by Apple for the iPad 2 the supply on eBay increased by 400%. On February 9th 2011 the average sale price for the first generation iPad 16 GB was $471 and on March 10th it had fallen to $382. In a matter of 30 days the average sale price dropped by 19% or $89.
With Apple to announce the release date of the new next-generation iPhone on October 4th 2011, many of the current iPhone owners are counting down the minutes and looking to at some point to unload their current phones. A growing online resell marketplace has emerged to give people many options. Outside of eBay and Craigslist you could unload your iPhone one of the following ways:
The chart below shows how the iPhone 4 is currently selling at auction online. Since mid-February the average sale price has dropped from $500 to $370. The 7 day moving average for the number of auctions has not seen much fluctuation with the average between 130 and 175 auctions a day.
What will the average sale price on eBay be a month from now? With the current iPhone 3GS selling for approximately $255 it is fair to say in a couple of weeks the iPhone 4 16GB will probably be selling for $300 and the 7 day moving average for the number of auctions could reach 225.
Is it the right time to sell your iPhone 4? If you sell it on eBay you might get $370. Gazelle.com might give you $264. Techorchard.com will give you $225. If you are like me the easy way to deal with a phone upgrade is to buy a new Samsung Galaxy SII phone at full price and just hold on to your current model. Even retired, your current phone can be a music player or Internet-surfing device when you have a Wi-Fi connection.
A Bid Auction is where a seller sets an opening price for a product and potential buyers opt to win the product by offering a higher price (bid). This bidding process moves the price up and at the conclusion, the highest bidder wins the item.
A BIN auction is where a seller sets a fixed price for the product and a buyer can choose to pay this price and immediately win the item.
In some instances the buyer can make an offer below the fixed price giving the seller the option to accept and close the sale.