As new models like the iPhone 11 launch, trade-in rates of older phones rise; a majority of these devices are then pushed to secondary sales channels. On the heels of the iPhone 11 release, the data generated across B-Stock’s B2B marketplace was extremely interesting. In our most recent Secondary Mobile Market Insights digest, we reported on B2B pricing data for devices across model, carrier, condition, color, and SKU (check it out here if you haven’t), as well as the impact the iPhone 11 had on the market. For the purposes of this blog, I want to take a deeper dive into what we saw immediately following the iPhone 11 launch.
At six weeks post-launch, the iPhone 11 was already hitting the return counter and wholesaling into the secondary market at 89% of retail. Around that time, B-Stock was already listing thousands of iPhone 11 devices weekly and devices were popping up on eBay, Amazon, and other resale channels at just under—or in some cases above— retail due to 1) scarcity of models 2) international demand and 3) sales-tax savings offered on sites like eBay.
The iPhone 11 launch had an interesting impact on the used device market; here is what the data shows us:
- Demand for used iPhone 7 models spiked; there was a 90% increase in units sold in Q3
- The iPhone 7 replaced the X as the top secondary market seller
- The iPhone X dropped from the no. 1 seller to no. 5
- The iPhone 7 and 7 Plus became the two most popular used iPhone models
What’s more, in the months leading up to the iPhone 11 launch, depreciation values flattened across top devices. Example: Q2 month-over-month depreciation was 5.6%; Q3 was 0.9%. This is typical ahead of any iPhone event.
In the weeks to come we’ll be releasing our Q4 Mobile Secondary Market digest, which will include more insights on the iPhone 11 effect. Stay tuned!
Large carriers are moving more devices through B2B channels for resale on the secondary market versus repairing and selling B2C. If you want to learn more about secondary market trends and how large carriers, OEMs, and buy-back companies are increasing the life cycle and pricing of phones via B-Stock’s B2B marketplace platform, please get in touch below.
For even more data + insights, please check out all of our blog posts dedicated to Mobile.