Wednesday, August 5, 2020

Apple reduces trade-in value for many devices, you may have to look for private buyers

The rumors that have been spreading as early as 2018 on Apple products’ price reduction on their devices has finally come to reality. However, this is not for new devices, but used models iPhone and MacBooks. This price reduction is in the trade-in value of used devices, and it is not good for customers. The price change was first noted by MacRumors.

Apple’s decision to reduce the trade-in value on the MacBook Air and older iPhone models are not stated but based on a market assumption, it may be due to the loss in revenue compare to the previous years.

  • iPhone XS Max: Now $500 from $600
  • iPhone 8: Now $180 from $220
  • iPad Air: Now $100 from $70
  • Apple Watch Series 4: Now $100 from $110

From my observation, most consumers seem to make more profit when they sell their devices to friends, to different buyers on eBay, or any other marketplace platform. Comparing to the value one gets from their old device elsewhere to Apple’s trade-in program, the program doesn’t seem viable as it was in the previous years.

Old iPhones on a recycling chain.

With this sudden price reduction, we may expect more people to prefer selling their used devices elsewhere, rather than trade it in with Apple. Even though it is more effort to sell a device privately, for many the convenience isn’t worth the possibly higher profit. This may negatively impact trade-in revenue, but the company is taking more of a profit with each device’s trade-in.

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