iPhone owners told to act now or risk losing money this week

Apple is widely expected to announce its new iPhone 17, iPhone 17 Air, iPhone 17 Pro and iPhone 17 Pro Max on Tuesday, September 9. The firm is set to stream a likely pre-recorded announcement video from 6pm UK time, where it’ll show off what’s new for 2025’s top iPhones.

The iPhone 17 Air in particular, if that’s what Apple decides to call it, could make headlines. It is said to be a thinner design, slimming down the regular size we’ve got used to into something much more svelte. This is thought to be at the cost of cameras, with rumours suggesting it’ll only get one lens, much like the mid-range iPhone 16e.

You may be waiting excitedly to see what’s new this week. If it tempts you into a smartphone upgrade, you may be wondering when the best time to sell your current phone is.

Selling your existing phone helps to offset the cost of a new one, but experts are warning you should act as soon as possible.

"The iPhone resale market stays the same year after year, yet most people still wait until after the new models are announced to sell their old phones," Sam Wilson, Director at Gadget GoGo said.

"By then, it's too late, and the market becomes saturated with old models and values drop."

This presents you with a conundrum, as you will not want to be without a smartphone now before the iPhone 17 goes on sale, most likely later this month.

But Wilson's advice is to sell now, before the iPhone 17 is announced, in order to get the best price for your gadget.

"Pro and Pro Max versions can lose £150-300 in value within the first month after a new launch. That's a lot of money they could have pocketed by acting just a few weeks earlier," Wilson said.

"iPhones generally retain their value better than other brands, which makes the timing of selling even more important. You're starting from a higher resale value, so the actual amount you lose by waiting can be huge."

Research by iPhone recycling firm Compare and Recycle claims the latest iPhone 16 series lost 45 percent of its resale value in the first year of its existence, a loss of about £500 on average.

But that doesn't necessarily mean you should rush to sell your tech.

“Frequent upgrades create an enormous amount of unnecessary waste, and our study shows that people are now keeping their devices longer, which is good news for both their wallets and the environment.” said Antonia Hristov, Head of Marketing at Compare and Recycle.

If you can't resist, you can sell your iPhone privately on trusted sites such as eBay or Vinted, or by slightly looser avenues, shall we say, such as Facebook Marketplace.

Apple offers trade-in options when purchasing new iPhones through its official site, but as a general rule these discounts will be less than what you could potentially get for a good condition iPhone on the secondhand market.

If you have an older device lying around, it might be wise to sell up now and use the much older phone as a stopgap before being able to invest in an iPhone 17 later.