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