iPhone resale value myth

Discussion in 'iPhone' started by dark_knight177, Dec 4, 2015.

  1. dark_knight177 macrumors regular

    dark_knight177

    Joined:
    Aug 22, 2010
    #1
    I have iPhone 6 Plus 64GB and the most I am able to get is $450.
    My phone cost me $909 with tax last year. In addition I paid 100 for AppleCare+. So in total I paid $1009 for the phone and the most I am getting now is $450 on craigslist.

    So it seems like I am loosing $559 in value in 12 months. Whoever told you that iPhones have great resale value are lying. For $559 I could be buying brand new Nexus 6P every year and loose $250 in value at most.

    Granted my phone is in excellent condition and still has 2 Apple Care replacements left.
     
  2. Elisha, Dec 4, 2015
    Last edited: Dec 4, 2015

    Elisha macrumors 6502a

    Elisha

    Joined:
    Nov 21, 2006
    #2
    50-60% is the average used value after a year.
    50-60% on a Android prone is still money wise less than an iPhone.
    I sold my OnePlus one 64gb for $280 last week after 14 months of ownership.
    5s 64gb after 11 months for $480
    HTC One M8 after 6 months for $380
    Nexus 5 32gb after 11 months for $275
    Note 2 after 21 months for $240

    I haven't sold my 64gb S6 cause I know I'll take a massive hit on it now after 8 months so I gave it to my wife instead!
     
  3. bobobenobi macrumors regular

    Joined:
    Feb 4, 2010
    #3
    I just sold my iPhone 6 128GB without AppleCare+ for $500 on Craigslist.
     
  4. Newtons Apple macrumors P6

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #4
    About half back after a year IS a good return on electronics.
     
  5. dark_knight177 thread starter macrumors regular

    dark_knight177

    Joined:
    Aug 22, 2010
    #5
    One of the appeals of owning iPhone was great resale value. Now it seems like you loose much less in value if you own an Android device rather than an iPhone.
    Getting $450 out of $1009 I spent comes out to be 44% value. That's not good. I lost $559 of value in 12 months.
    Whereas if I owned top of the line Android device like Nexus 6P and bought it for $450 and sold it for $250 next year. I would only be loosing $200.
    Loosing $559 vs $200 is a huge difference.
     
  6. zhenya macrumors 603

    zhenya

    Joined:
    Jan 6, 2005
    #6
    First, you can't include the cost of AppleCare in your calculations. If you are only going to hold on to the phone for a year, it's worthless. In fact, AppleCare for an iPhone is an extremely low-value proposition all around.

    So you can expect 50% back, which is pretty darn good for an electronic device, especially since you are looking to sell months after the new model has been released.

    Also, returns are much better on 16GB models as people buying used are by definition price-driven, and the base model sets the price floor.

    If you want to maximize your return, by a 16GB model and sell it a month before the new model is released. You could probably push 70% at that point.
     
  7. duction macrumors 6502a

    duction

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    Location:
    U to the K
    #7
    Steve Jobs would of said you are selling it wrong.
     
  8. DeftwillP macrumors 6502

    Joined:
    Jan 28, 2011
    #8
    The market on selling used iphones has changed drastically with next/jump/etc.

    Also, you're comparing resale value of an iphone that's been out for over a year with a android phone that's been out for what...2 months?
     
  9. nfl46, Dec 4, 2015
    Last edited: Dec 4, 2015

    nfl46 macrumors 603

    Joined:
    Oct 5, 2008
    #9
    Well, if you feel that way about Apple devices, then don't get an Android device. They, on the other hand, do not hold their value well. I was able to easily pick up a brand new Galaxy Note 5 a month after release for $300 less than retail price. Good luck doing that with an iPhone a month after release.
     
  10. convergent macrumors 68020

    convergent

    Joined:
    May 6, 2008
    Location:
    Raleigh, NC
    #10
    I buy a phone to use, not as an investment. If you don't get the investment value you expect from an iPhone then buy the one that you feel gives you a better return. Its your choice. I prefer to buy the phone that works better for my needs as a phone.
     
  11. eyoungren macrumors P6

    eyoungren

    Joined:
    Aug 31, 2011
    Location:
    Phoenix • 85037
    #11
    My only comment on this (we don't sell our phones) is that the topic focus seems to be only on resale to individuals.

    Try getting anywhere near that depreciation price when selling to a reseller or turning in to a carrier for credit.
     
  12. dark_knight177 thread starter macrumors regular

    dark_knight177

    Joined:
    Aug 22, 2010
    #12
    I don't buy iPhones as investment either. In fact as a phone enthusiast I own Nexus 6P, iPhone 6 Plus and iPhone 6S and I don't regret it one bit. I am pointing out the myth that people have about iPhones having better resale value than others. In fact they all stink, but more so on iPhones.
     
  13. Newtons Apple macrumors P6

    Newtons Apple

    Joined:
    Mar 12, 2014
    Location:
    Jacksonville, Florida
    #13
    Both were about half. If you pay more for a premium electronic device you will loose more than if you bought a POS device. In my opinion you sold your iPhone for too cheap unless it was beat up.
     
  14. Jfree3000 macrumors member

    Joined:
    Nov 17, 2015
    Location:
    Metro Atlanta
    #14
    Trust me, what you got for your iphone is leaps and bounds better than what you would get for any android phone and this is coming from a former android user. My last phone was a nexus 6 (Shamu) and the starting price for it was roughly $700, on sale at the Play store for $500, on swappa they go for about $300 and craigslist etc is a lot lower.
     
  15. dark_knight177 thread starter macrumors regular

    dark_knight177

    Joined:
    Aug 22, 2010
    #15
    If you sold your phone on swappa for $300, you would only loose $400 in value (700-300=400). It seems like you have lost much less than what I lost ($559)
     
  16. Jfree3000 macrumors member

    Joined:
    Nov 17, 2015
    Location:
    Metro Atlanta
    #16
    That's if you sold it for that price, which I find to be a little high for a phone that came out a while ago. Craigslist's seller is losing a lot more money and the ranges from price there go from $190 to an absurd $350 and up range.
     
  17. convergent macrumors 68020

    convergent

    Joined:
    May 6, 2008
    Location:
    Raleigh, NC
    #17
    I don't see where you are making a case that its worse. If anything, they are the same percentage by what you are showing. The issue with both, at least in the US, that has precipitated the drop is the movement away from contract pricing. Once a new model phone comes out, resale on anything is going to drop quite a bit. Its indication to me that people like the new 6s models and want to ditch their 6. I think your best pricing is going to be Craigslist, at least around here, but there are all the risks with that.

    I don't usually sell my phones because there are enough of us in the family to pass them along... and my kids tend to destroy theirs by the time they are ready to upgrade.
     
  18. ABC5S Suspended

    ABC5S

    Joined:
    Sep 10, 2013
    Location:
    Florida
    #18
    Not too long ago, I heard some say they got back most of what they paid for the iPhone in order to buy another. I too looked just for the heck of it, sites that will buy your iPhone, and no way close enough to buy another without loosing a least half in what you paid in such a short period of time. Longer, yes, but just a couple of months ?. Not talking about investments here, just talking about what your iPhone is actually worth.
     
  19. MrAverigeUser macrumors 6502a

    MrAverigeUser

    Joined:
    May 20, 2015
    Location:
    europe
    #19
    The best way NOT to loose money on selling an iPhone is….

    to buy the before-last version already used by one of the millions of apple-fanboy aka "Early adopters" who think their "old" ones would be obsolete at the same second apple releases the "new" one….

    I purchased two "second-hand" iP5/iP5s Smith 32GB in absolutely TOP-condition for ridiculous price, no scratches, always protected by top-cover (even included in price) for not more than 40% of their price 12/ 18 months ago.
    And this purchase gives you the best value for later resales IF you "need" to resell it one day… because this second-hand-price will rest nearly stable for following 2 years…

    It is all about being resistant to naive temptations:

    Buy as often as possible the best product for your personal purpose, but rest always a little bit behind the early adopters who pay always extreme amounts of hard earned money to show themselves with the "newest" product not regarding if they really NEED this one… ;)

    With a little bit of discipline you:
    1) will avoid bugs and inconvenience by not yet fully elaborated new soft/hardware, you won´t loose no time neither with it.
    2) will have enormous earnings without any lack of comfort, because you buy the same good products - but just always for 40-60% of their over-estimated "value" and just some months ago.
    3) sometimes even nearly-new products will fall in price just 1-3 months after a new model (often with just ridiculous "additional performance" or useless "New options") has entered the market.

    This is also the case regarding other electronic products like TVs, audio components, Cameras, ....

    cheers
     
  20. HEK Suspended

    HEK

    Joined:
    Sep 24, 2013
    #20
    If you have not used the AppleCare you can get balance refunded from Apple or transfer to new owner.
     
  21. perezr10 macrumors 6502a

    Joined:
    Jan 12, 2014
    Location:
    Monroe, Louisiana
    #21

    You'd think that eBay would have a gold mine of data on this subject...
    http://www.perezonomics.com/1/post/...lue-is-185-higher-than-samsung-galaxy-s5.html
     
  22. Elisha macrumors 6502a

    Elisha

    Joined:
    Nov 21, 2006
    #22
  23. savagewatts macrumors regular

    Joined:
    Oct 21, 2014
    Location:
    Vancouver, BC
    #23
    I got $700.00 for mine. Mint condition of course.
     
  24. rugmankc Contributor

    rugmankc

    Joined:
    Sep 24, 2014
    #24
    just like any product the value lies with the purchaser. it's worth as much as someone will pay for it. i don't know of anyway to substantiate a myth that iphones have better resell value. iphone owners will say iphone and android owners will say android for the most part. too many transactions for many different reasons that you could prove it one way or the other. some will hold out for best price they can get and some for whatever reason will give it away. electronics are the worst investment you can make now days. even though i keep buying them. :eek:
     
  25. Mlrollin91 macrumors G4

    Mlrollin91

    Joined:
    Nov 20, 2008
    Location:
    Ventura County
    #25
    Remember that when 2 year contracts were popular, you would be paying $199 for a 16GB iPhone. A year later you could sell it for $400. A new iPhone on an early upgrade 2 year contract would be $450 (16GB). Therefore you could upgrade to the newest one for $50 out of pocket. This completely changed once 2 year contracts went away.
     

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