Now's the Time to Trade in Your iPhone

Apple's annual iPhone unveiling happened on Tuesday at the Steve Jobs Theater on the new Apple campus in Cupertino, California. All eyes were on Apple CEO Tim Cook and other Apple team members as they announced Apple's newest products.

If you're like many iPhone users, you've probably already decided that you're going to upgrade to the iPhone 8, iPhone 8 Plus, or iPhone X as soon as possible (i.e. as soon as pre orders begin).

Selling or trading in your current iPhone is a great way to lower the cost of a new one (the iPhone X starts at $999, so yeah, anything helps). According to the tech buy-back site musicMagpie, the best time to do that is right before a major phone launch — aka right now.

Compared to Androids, iPhones tend to hold their value. Data shows that if you sell your device right now, you can get up to 25% more than if you wait until after a major phone launch. Once a new phone enters the top of the market, the price of all older phones will drop.

"By analyzing both our own and industry data, we can see it really does pay to trade-in ahead of a major phone launch, especially if you are looking to upgrade to the new model," said Liam Howley, marketing director at musicMagpie. "Naturally, once a new phone enters the top of the market, all older phones will drop in price. We see a huge rise in trade-ins ahead of any new iPhone launch as savvy consumers rush to secure the best price possible."

You can see all the current trade-in values here. So, if you're planning on trading in or selling your phone, you may want to consider doing it now!