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Forget the $1,319 iPhone X. There are bargains to be had on older models now

iPhone X and more: Here’s what Apple unveiled at the Apple Event
Tech giant Apple unveiled their latest updates and products at their annual event Tuesday, including the highly anticipated iPhone X.

With a price tag of over $1,300, Apple’s latest iPhone X seems out of reach for many Canadians. But thanks to the announcement of the newer models, the more frugal shopper can look forward to a price dip on last year’s model.

EBay Canada says prices of the previous generation of iPhone dropped by nearly 10 per cent during the month after the release of a new phone, for three years straight.

READ MORE: iPhone X’s hefty price tag won’t deter Apple fanatics

The company also said that the amount of transactions of iPhones doubled after the announcement of the iPhone 7; usually an iPhone is sold or bought by a Canadian every 10 minutes, but in Sept. 2016 there was a transaction once every five minutes.

With Tuesday’s announcement of both the iPhone 8 models along with the more expensive iPhone X (pronounced iPhone ten), eBay says now is the time to think of selling your iPhone.

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WATCH: Latest coverage of the Sept. 12 Apple announcement 

Here are some tips from eBay Canada’s head of Communications, Camille Kowalewski, for both buyers and sellers:

Selling:

  • Do your research to determine an appropriate price point.
  • Consider bundling your phone with any accessories you have. Kowalewski says it’s an easy value-add to help you get more money for your phone.
  • Include a lot of photos of your phone, including any areas that have some wear and tear, so you are fully transparent and upfront on the condition.
  • Think about offering free shipping in Canada, but add appropriate shipping services for international buyers.
  • Make sure you properly wipe your data from your phone before you sell it.

Buying:

  • Just like sellers, buyers should do their research on price points.
  • You can get good value on at gently used or factory-warranty refurbished phones.
  • Make sure you look at details like if it’s locked or unlocked, condition, if it comes with the power cord, etc.
  • If you need the phone fast, look at items located within Canada for faster shipping times.