Normally after the introduction of a brand new generation of device, the price for the old generation drops significantly on sites such as eBay, where users are selling their older devices. With the introduction of both the iPhone 5s and iPhone 5c today, many (myself included) anticipated that the prices of iPhone 5 devices sold on eBay would drop significantly because people would now be wanting to buy the new iPhone 5s or 5c. However, it appears as if Apple’s decision to cut the lifespan of the iPhone 5 down to just one year made it more of a novelty, since most devices are available for three years (first at $199, then $99, then free on contract).
The auction site has shown that the average price of a 16GB iPhone 5 from AT&T is now at around $441. That is a whopping $80 higher than the average price of the device on Monday. Other devices that were already selling for higher prices (like the 16GB Verizon model) have stayed steady at around $430. It is interesting that the auction prices have not substantially dropped, since there will likely be an influx of listings soon of people who are looking to upgrade to the iPhone 5s or 5c.
What do you think about the spike in prices on eBay for iPhones? Does the price change surprise you, like it did me? Drop a comment in the comments section below and let us know!