iPhone resale prices peak: Should you sell early?

“A cautionary note for Apple’s Undecided: If you want an iPhone 5, it might pay to sell your iPhone 4S now — especially if you can survive a couple of weeks without either one,” Quentin Fottrell reports for SmartMoney.
“The hotly anticipated iPhone 5 is widely expected to hit stores around Sept. 12, and analysts foresee some major structural changes,” Fottrell reports. “As the release day gets closer, the market is likely to be flooded with old iPhones; 84% of people who previously traded in old iPhones are already preparing to do so again, according to a survey of 1,400 Gazelle customers. But in the past, those floods have turned into gluts, typically causing prices to drop by 20% to 25%, says Jeff Trachsel, chief marketing officer of resale site NextWorth.com.”

Fottrell reports, “Current prices probably represent a peak. And those who bought their iPhones for $199 as part of a two-year wireless contract might actually stand to make a profit.”

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