Not that we didn't expect this, but the amount of money you'll get for your old iphone4 is dropping quickly ahead of the launch of the iPhone 4S.
A website called NextWorth, which allows consumers to sell their used electronics for cash, was offering $250 for an iPhone 4 at the beginning of October. Now, the price is $200 for the 16 GB
Another leader in this space, Gazelle, has posted the exact same drop from $250 to $200.
Trade-in sites like Gazelle reported spikes in iPhone 4 trade-ins over the last several weeks, but unfortunately many people who have an iPhone 4 can't trade it in until they get a replacement.
The iPhone 4s goes on sale on Friday, and by that time the iPhone 4 will be completely old news.
Nevertheless, there is sure to be an entirely brand new market for the iPhone 4 as soon as that day hits. Apple has found that budget-conscious consumers still long for an iPhone, which is why it continued to sell the iPhone 3GS long after the iPhone 4 was released.
AT&T also noted an advantage in the market of "cheap iPhones," since it was the only carrier authorized for use with the iPhone 3GS, thus it held a monopoly on the industry for those without a lot of money who still wanted an iPhone.
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