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Selling Your Old iPhone? Do It Now

Posted at 11:52 AM, Aug 22, 2013
and last updated 2013-08-22 11:52:02-04

iphone copy genericNEW YORK (CNNMoney) — That old iPhone sitting in the bottom of your sock drawer could be worth $300 — but only if you act now.

Old iPhones hold their worth better than any other smartphone on the market. But iPhones’ resale value takes a nosedive right before Apple announces a new version of its smartphone — and Apple (AAPLFortune 500) is expected to do just that on Sept. 10.

Apple is widely expected to introduce a gold-colored iPhone, a fingerprint sensor and a new low-cost “iPhone C.” No matter what it ultimately will look like, the new iPhone will send Apple fans running to the store and searching for a way to get their old phone out of their hands.

But waiting until the actual announcement means you are already late to the game.

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