iPhone 6 Resale Retaining Value Six Months Later
Has it really been six months? It may not feel like it, but it really was six months ago that we picked up some of the first iPhone 6’s in Toronto at the Eaton Centre (after waiting in line for two days) and now it’s time to talk about iPhone 6 resale value.
Back then the only iPhone 6’s around were brand new – and in Canada they cost $749 and $859 for the 6 and 6 Plus respectively.
We were curious how the iPhone 6 resale value had faired over the past six months, so we dug into our historical price data to see just how much value it has lost since September.
Interestingly the iPhone 6 was in such high demand when it first came out that it was pulling prices higher than what it cost at the Apple store – although these first phones were likely all brand new in box, so aren’t a very good indicator of what and actual second hand device would go for. The first real dip in secondhand price came in October, where the iPhone 6 lost 5% of its value in the first half of the month before levelling off for a bit.
Over the next month resale prices dropped another 5% from the original selling price, settling into a slow but steady decline. By the end of 2014 prices had fallen to about 83% of the initial value of the phone and have remained fairly steady since then.
What about the 6 Plus?
The 6 Plus followed a similar pattern, although was initially selling for notably high amounts on the secondhand market (almost 115%!) due to supply issues with the larger-screened device at launch.
As supply started to catch up with demand resale prices for the iPhone 6 Plus quickly fell back in line, and then saw declines similar to the iPhone 6. Slowly and steadily the resale value has fallen to just over 80% of original selling price today, slightly less (percentage-wise) than where the iPhone 6 sits.
Edit: we’ve included a graph that better shows the comparison between iPhone 6 and iPhone 6 Plus resale prices since launch!
So what does this all mean?
If you have an iPhone 6 to sell, you’re going to be able to get a lot of money back for your phone.
If you’re a buyer, this is a uniquely great time to pick up a second-hand iPhone 6.
If you haven’t heard, Apple just increased the prices for the iPhone 6 in Canada, due to the sorry state of the exchange rate between the Canadian and American Dollar. Prices increased to $839 and $969 for a 16GB iPhone 6 or iPhone 6 Plus respectively.
How this will affect the secondhand market for iPhones in the long run remains to be seen, but if you were to buy a phone today, everybody wins. Current sellers can retain a good value for what they paid, possibly getting even more than they would have if prices hadn’t increased. If you’re a buyer you’ll likely get an even better deal than before, versus buying new.
If you have an iPhone 6 (or any iPhone), you can find out how much money you could get back by selling today by downloading our app and running a few quick tests.