If you’re planning to trade-in your old Apple device when you buy a new one at the Apple Store, prepare to get less trade-in value than you might have expected.
Apple has quietly cut the estimated trade-in values of almost all used iPhone, iPads, Macs, and Apple Watch models. The cuts apparently were put in place overnight.
As noted by MacRumors, yesterday on Apple’s device trade-in program web page, an iPhone XS Max had an estimated trade-in value of up to $600. However, this morning, the value is listed as up to $500, a $100 plunge in just 24 hours.
Only the MacBook Pro, Mac Pro, Mac mini, and Apple Watch Series 1,2, and 3 have been spared any cuts.
The reductions appear to have happened on not just Apple’s U.S. online store, but also in other countries, including the United Kingdom and German online stores.
Apple’s heavily promoted iPhone trade-in program and Apple CEO Tim Cook recently said the increased emphasis has proven effective, with a third or more of customers that visit a retail store to buy a new device trade in their older device.
It should be noted, that while trading in your old device to Apple when buying a new one is certainly simpler than the hassle of selling it to another person, but the price you’ll receive from Apple will never be as much as you’d receive for a private sale.