How to make money from your old iPhone

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With Apple all set to reveal its hotly anticipated so-called iPhone 8 tomorrow, eBay have just unveiled how any average Joe with an iPhone can cash in on it - and it's all about timing.

According to eBay, the best time to list your old iPhone is just after launch day, when there are over 250,000 searches across the eBay marketplace.

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See also: You can now pre-order a 24k gold iPhone 8

But with Apple's big reveal happening tomorrow, you'll need to be quick if you want a slice of the Apple pie.

With over a decade of data on the iconic iPhone, and a related accessory selling every single second on the marketplace, remaining the number one most searched for item on eBay in the UK (even surpassing the fidget spinner), with sales exceeding £1 billion over the last ten years.

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Credits: Getty Images

eBay know a thing or two about selling things second hand

Last year, 175,000 iPhone 6's found new owners via eBay within 90 days of the iPhone 7 release, as people investing in the latest handset cut their costs a little by trading in their old ones for money, rather than leaving them in a drawer untouched - the so-called iPhone 'circular economy'.

Credits: Apple

iPhones at the ready... as Apple are set to reveal all tomorrow

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So how much can you sell your old device for? According to Sellmymobile.com, you can bag, on average, £378.11 for the iPhone 7 (128g). But there's still some pretty good money up for grabs from older handsets, too.

  • iPhone 7 (128GB): £378.11
  • iPhone 7 (32GB): £343.78
  • iPhone 6s Plus (32GB): £228.15
  • iPhone 6 plus (16GB): £206.83
  • iPhone 6 (16GB): £159.61
  • iPhone 5s (32GB): £78.73

If you're on the hunt to buy an iPhone and want to make use of the big discounts now the very latest model has officially been announced, then according to eBay, two weeks after the latest launch is when the highest number of older devices sell, meaning the most discounts are up for grabs.

If you're interested in picking up the brand new iPhone 8, but want to ensure you're getting the best price for it, we'll be continually updating our iPhone 8 deals page, as soon as it's announced.

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