Used iPhone Market Booming

Online, August 9, 2010 (Newswire.com) - If you've just upgraded and have an old iPhone in your junk drawer, you could be in for windfall. The market for used iPhone 3G and 3GS models is booming according to new figures. With many iPhone fans clamouring to upgrade to the latest iPhone 4 model, auction and classified sites such as eBay and Gumtree have seen an influx in listings of older models.

"The market for these older handsets is huge." says Matt Sweet of second-hand Apple site UsedMac.org.uk. "As more people upgrade to the iPhone 4, it seems there is an endless queue waiting to snap up their old phones on eBay."

Indeed, a quick scan of eBay confirms this. Used iPhone 3GS models can still fetch £250 in auction depending on age and condition. "Your average 3GS will go for at least £200 and a 32GB model in great condition could reach £300" advises Matt.

Recent problems with the latest iPhone 4 model may have helped fuel demand for the older handsets. Some users are genuinely unhappy with the performance of the latest model while some potential consumers are concerned enough about the issues to opt for a second hand 3GS instead. The fact is, the 3GS is still superior to many other smartphones available, both in looks and performance.

Figures suggest many consumers would prefer a used iPhone over a brand new smartphone from a rival manufacturer such as Nokia or HTC. The iPhone is the current status symbol and fashion accessory that everyone wants - even second hand.

Some of us though are keen to sell. After recently finishing a draining long-term contract, iPhone user Ian is keen to recoup some of his spend. "I love the iPhone, but I just can't afford to keep one at the moment. I'm looking to sell my handset for £200 and just get a standard phone for a while. At least my iPhone has kept some of its value."

The average iPhone contract will cost just shy of £1,000 over the course of the deal so a 20% kickback at the end could be a much needed cash boost for many of us.