Monday, September 17, 2012

Smartphone trade-ins skyrocket in the wake of the iPhone 5 announcement

Third-party electronics trade-in site Gazelle is busy recruiting folks to stand in line at Apple Stores. Meanwhile, fellow third-party trade-in site eBay Instant Sale is busy trying to keep up with demand.

On Monday, an eBay Instant Sale representative reached out to us. The numbers are impressive, and shows that owners of older iPhone are ready to turn in their old devices - not just iPhones - for Apple's newest superphone.

Since Sept. 12 until the eBay emailed us on Monday, eBay Instant Sale’s trade-in offers increased 265 percent over the same period from the previous week.

Of the trade-in offers generated, 69 percent were trading in iOS devices, 16 were trading in Android devices, 11 percent finally giving up on their BlackBerrys, and 4% were for smartphones running other operating systems (such as Windows Mobile, Windows Phone, or Symbian).

Notably, a trade-in offer does not necessarily reach fruition. It means a customer has used eBay Instant Sale to see what the value of their current device is. it doesn't mean they have accepted the offer, though. A customer can choose to accept that offer and ship the device in for trade using a free shipping label, or pass.

In addition:

Of the iOS device trade-in offers generated, 46 percent were for iPhone 4 devices, 40 percent were for iPhone 4S devices (meaning the users would have to suck it up and pay full price for the new iPhone 5), 8 percent were for iPhone 3GS devices and 6 percent were for iPhone 3G offers.

The top five devices generating offers were iOS devices:
  1. iPhone 4 32GB AT&T
  2. iPhone 4S 64GB
  3. iPhone 4 16GB AT&T
  4. iPhone 4S 16GB
  5. iPhone 4S 32GB
eBay Instant Sale is running a special promotion through Wednesday, after which pricing is sure to change.  If you want the highest trade-in value for your handset, whether it is an iPhone 4S or a Droid RAZR Maxx, you should trade it in by then.

No comments: