If you’re in the market for a new phone that’ll not only last but also hold its value over time, look no further than Apple’s iPhone X. The iPhone X is one of the most groundbreaking smartphones to hit the market for more reasons than just its innovative features and design. The latest iPhone not only set a record for iPhone pricing, it’s also setting records for its resale value.
Recently B-Stock, a liquidation specialist, examined which iPhone has historically shown the highest resale value. As you’ve probably guessed, the iPhone X came out on top, being resold for 85% of its original value in the average individual second-hand sale. Companies and re-sellers of whom purchase the iPhone X in bulk have reported reselling the phone at an average of 75% of its retail price as reported by B-Stock and according to 9to5Mac, who was able to source a copy of the study. This resale price is considerably higher than previous iPhone models sold at the same time within the product lifecycle.
High Demand, Short Supply
One of the biggest reasons for such a strong resale value is due to a high domestic demand. While the majority of iPhone models are shipped overseas, the company reports that nearly all iPhone X models are sold in the USA, with only 2% being sold abroad. What’s more, the popularity of the new sleek design means that those who really want the phone and won’t consider alternative models will most likely be looking to save some money by buying a second-hand phone.
Apple unveiled and released their latest phone last year, bearing the largest price tag ever affixed to a company smartphone. As you might know, the base model iPhone X model retails for a whopping $999. When you factor in a larger hard drive and additional storage, the price jumps up to $1,149. According to the B-Stock data, the iPhone X is currently worth at least $849.15 at resale.
“The iPhone X came out on top by retaining 85% of its original value in a secondary market,” Fortune says. “Companies that buy the iPhone X in bulk to resell the handset are acquiring it for 75% of its retail price, B-Stock discovered, according to 9to5Mac, which obtained a copy of the study.”
Finally, a Smartphone That Holds Its Value Well
Smartphones, like many electronics, don’t typically hold their value well. New features, improved components, and functionality, as well as appealing competitor options, will usually drive their value down quickly and significantly. Historically, Apple’s iPhones tend to lose value but have proven to hold their value better than most competitors. According to 9to5Mac, B-Stock’s data suggests the iPhone X has set a new record for holding its value better than any other iPhone on the market.
“The findings are likely good news for companies that acquire used or returned iPhones,” Fortune goes on to report. “It’s also good news for anyone who owns an iPhone X and is planning to turn it in for a new device this year. If nothing else, it’ll go a long way in defraying the cost of a new iPhone.”
If the iPhone X got you excited, then get ready for Apple’s next release. According to a report in Barron’s. “Apple is planning for 91 million units to be built, combined, of three new models of iPhone in the latter two calendar quarters of this year, to be followed by another 92 million units in the first two quarters of next year. The iPhone X would presumably be discontinued in Q3 of this year, and the cheaper iPhone SE would also go away.” If we had to guess, these new models will most likely hold their value just as well as the iPhone X.