Your Samsung or iPhone could be worth hundreds - here's the best time to sell up

25 October 2023 , 05:30

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You could be sitting on a fair amount of cash if you've got an old Samsung or Apple device lying around

You could make hundreds of pounds from your old iPhone or Samsung—but only if you sell it at the right time. That's according to a new Smartphone Index report from 4gadgets, which claims that the best time to sell your device is during the second year of owning it.

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That's because the value of popular smartphones tends to depreciate dramatically after this time. This is particularly true for Samsung devices, which apparently lose resale value much faster than iPhones over time.

iPhone models tend to hold their value longer than Samsung (APPLE)

The 4gadgets team analysed pricing data from some of the most popular Apple and Samsung phones and examined how well they hold their value.

They found that iPhones launched between 2018 and 2022 have lost an average 53% of their resale value, while Samsung devices plummeted by almost 70% from their launch prices.

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That means if you've bought a new phone, your best bet is to sell it within two years.

If you are thinking about selling your smartphone, there are a few ways to maximise the amount of money you can get.

The price comparison site CompareMyMobile is a really handy tool that shows you how much you could get for selling or trading in at different vendors.

You might also want to consider a phone recycling scheme like Envirofone or O2 Recycle.

Plus, there are trade-in schemes with the likes of Apple and Samsung, who will let you trade in your old device to get some money towards a new one.

For example, Apple offers up to £230 in trade-in credit for the iPhone 12, while Samsung can give you as much as £350 for the Samsung Galaxy S20.

Wherever you sell your phone, it's worth shopping around for the best deal so make sure you check as many vendors as possible.

Ciaran Daly