Before the big reveal day of the iPhone 5S, old iPhones are currently priced at $300. Trade-in companies are now paying in cash for anyone who sends in old gadgets before the new smartphone arrives.


 

The online trade-in service Gazelle, currently pays $300 for a 16GB At&T IPhone 5, and anyone can lock-in in that quote now and send the phone 30 days later. However, that price is going to continue to drop after the announcement is made.

It is said that the company is receiving one iPhone every 5 seconds for the last week. And compared to last year, Gazelle’s iPhone trade soared 30%.

 

Value declines before iPhone launch

Aside from Gazelle, other companies offer more ways for iPhone trade-in. iCracked will buy off the phone even with shattered screen. Retails giants Best Buy and Target also offer recycling programs. Consumers also have the option to sell their phones directly on eBay, Amazon, or other e-commerce sites for gadget selling.

“Smartphone subsidies allow consumers to sell their older model after two years when their contract is up and get almost what they paid for it,” said Jeff Trachsel, the chief marketing officer of trade-in company NextWorth. "There is a predictable 15% to 20% value decline seen across all older iPhone models in the six-week period surrounding the new iPhone launch.”

Kate Lobosco of CNNMoney also reported that, “Old iPhones hold their worth better than any other smartphone on the market. But iPhones’ resale value takes a nosedive right before Apple announces a new version of its smartphone — and Apple is expected to do just that on Sept. 10.”

September 10 is the expected date of the unveiling of Apple’s newest iPhone, which is rumored to be gold in color, has up to 128 GB of memory, and a fingerprint sensor. A budget-version is also said to come out on the said day.

 

With an expected date in mind, everyone is clamoring to replace their old units with the newest one.