UPDATED 12:40 EDT / SEPTEMBER 19 2013

NEWS

When Is The Best Time to Buy an iPhone 5?

The iPhone 5s and 5c will both hit stores across the world tomorrow. Fanbois have already lined up outside Apple stores in dozens of countries, while some are camped outside their network carrier’s retail store to see if they are eligible for an upgrade.

If the lines outside an Apple store near you are already outrageously long, you can head on down to the nearest AT&T, T-Mobile, Sprint or Verizon retail store, as well as Walmart. Of course, there are no guarantees that the lines outside of those stores will be any shorter, so you’d better hurry if you’re really desperate to get your hands on one tomorrow.

The problem most fanbois have on launch day is even though their old iPhone can be traded in for a new one (with a little cash thrown in of course), some carriers are quite strict about the phones they’ll accept. However, there are many other places you can try in seeking the best price for your old device.

Check out: Where to Get the Best Trade In Price for Your Old iPhone

If you don’t want to trade-in your device, the alternative is to just sell your old iPhone on eBay.  There’s a greater chance of getting more money for your device through selling on eBay than if you just opt for a trade-in, but again, there’s no guarantee.

In an infographic on iPhone prices sold on eBay, it was determined that the number of old iPhones for sale on the website peak almost immediately after Apple announces a new model.

Back when Apple announced the iPhone 3GS, the number of iPhone 3Gs for sale on eBay increased by 64 percent.  When the iPhone 4 was announced, iPhone 3GS’s for sale increased by 74 percent, followed by a 33 percent increase in the number of iPhone 4Gs for sale when the the iPhone 4S was announced. Meanwhile, when the iPhone 5 was announced, the number of iPhone 4GS’s for sale on eBay saw a 56 percent increase.

When it came to the prices of those iPhones, as more devices were listed on eBay, the costs reduced quite significantly.  This is great news for people who are looking to upgrade but not necessarily to the latest model.

The iPhone 3G sales price saw a 10 percent drop when the 3GS was announced, while the iPhone 3GS saw a 29 percent decrease. Meanwhile, the iPhone 4G saw a 16 percent decrease, and the iPhone 4GS prices declined by 14 percent.

With the different color options offered by the iPhone 5c, together with the Touch ID feature of the iPhone 5s, it is expected that many iPhone 5 owners will be selling their devices so they can get their hands on these new ones.  If you want an iPhone 5, this is the best time to get it as prices are expected to drop on eBay quite dramatically in the next few days.  Also, you won’t be missing out if you purchase an iPhone 5 as most of the upgraded features are available with iOS 7.

Check out: How To Use iOS 7: A Quick Tutorial


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