Because of the ongoing flood of rumors, consumers have been trading in their old iPhones in mass quantities. According to CNET, in the last few days eBay has seen a large increase in used phone trade-ins.
According to the online sales site, submissions to its trade-in program increased 70 percent in the past three days, when compared with the same period the week before.
The company says that during that span “nearly” 100,000 smartphones were offered up for trade-in by people using the company’s Instant Sale program. Among the Apple phones that people offered to trade-in, eBay says the 16GB model of the iPhone 4S tops the list, followed by the 8GB iPhone 4 and 32GB iPhone 4S.
The popular online auction platform is just one of the many sites that will buy back used electronics. During the iPhone 4S launch last Octboer, 89 percent of smartphone trade-ins were used iPhones.
These people must be putting a lot of trust in speculation. What will they do for the next month or two without an iPhone?
According to eBay, the device needs to be sent in within seven days:
It is the responsibility of the Seller to ship all Product(s) using one of the shipping methods provided by the Company within 7 days of the initial offer date. If the Product(s) are postmarked within 7 days of the initial offer date, the Company’s initial offer will be valid, unless the device does not meet the stated condition.
I personally use Craigslist for parting with my used electronics. In my experience, the street value for a gently used iPhone is around the same price as an on-contract upgrade. I’m excited to see what Apple’s next-generation iPhone has to offer, and I’ll definitely be ready to upgrade when it’s released.