Just like a new car or console, a new mobile phone depreciates in value the moment you take it out of the box. We’ve noticed, however, that some phones lose value much faster than others.
But why do some phones hold on to their value longer than others? Using our own trade-in data over a 41-month period, we’ve gathered some pretty interesting data on iPhone, Samsung and Google phones.
iPhones across the board dropped in value by an average of 40% in the first month after launch, and 50% in their first year. The iPhone 11’s value has decreased by almost half at 45% by month 5. The iPhone 11 Pro isn’t far behind, having decreased by 40% in its 5th month, dropping from $999 to a resale value of $596.
The iPhone 7 and 7 Plus, whilst depreciating significantly over the years, are still retaining their value compared to older models of Samsung and Google phones. They currently stand at resale prices of $89 and $159 respectively.
Samsung phones are still depreciating faster compared to their Apple competitors, more particularly in mid 2019, thanks to the latest Android security updates.
In just 11 months, the Samsung Galaxy S10 and S10+ have plummeted in value by 46% and 45% respectively. Earlier models, such as the Samsung Galaxy S7, have depreciated by a staggering 86% over the course of 41 months and now stand at a resale value of just $42.97.
Google phones are known for being great alternatives to iPhones in both value and camera features. However, our data shows you won’t necessarily get the best value when it comes to re-sale.
In just 8 months the Google Pixel 3a has depreciated by 77%, with the 3aXL not far behind at 74%. The anticipated Pixel 4 is most likely the catalyst behind the drastic depreciation rate. The more expensive model from the Pixel range, the Pixel 2 XL, is still going strong, with just a 39% depreciation in 24 months since its release.
The best time to sell your phone is now! With months of data, we’ve shown that phones are depreciating rapidly no matter what model they are. The longer you hold on to an old phone, the more resale value it loses - more so with a new model announcement.
If you’re planning to upgrade to a new phone and need the extra cash, Decluttr is a fast, easy and totally FREE way to sell your cell phone and upgrade!
Simply get an instant valuation, ship your cell phone for FREE and we’ll pay you the day after it arrives! We pay up to 33% more than carriers and you’re guaranteed to get the first price we offer or your phone back for FREE. Find out how much your cell phone is worth today.