Average trade-in value for iPhones above $200 for first time since quarter three of 2021

iPhone 11 remains the top turned in mobile device through trade-ins.

 Assurant, a business services company, reports that US$865 million was returned to U.S. consumers through trade-in programs during the first quarter of this year. The average trade-in value for iPhones also surpassed $200 for the first time since quarter three of 2021.

These findings are taken from Assurant’s latest Mobile Trade-in and Upgrade Industry Trends report, which tracks the continued growth of mobile device trade-in and upgrade programs.

Key highlights from the Q1 2023 report include:

  • The average trade-in value of an iPhone in quarter one was $201. This is the first time the average trade-in value of an iPhone has reached the $200 mark since the third quarter of 2021, where the trade-in value was $207.
  • The top five traded devices during the quarter were the iPhone 11, iPhone XR, iPhone 12, iPhone 11 Pro Max and iPhone 12 Pro Max.
  • The iPhone 11 remains the top traded device for four consecutive quarters and made up 38% of the top five traded devices.
  • 5G smartphones, namely the iPhone 12 and iPhone 12 Pro Max, made up 29% of the top five traded devices.
  • The Pixel 6 Pro was the top traded Android device for a second consecutive quarter.
  • The average age of smartphones traded-in was 3.35 years, slightly older than 3.26 years in quarter four of 2022.
  • The first quarter of 2023 saw a 41% year-on-year growth in online trade-ins.
  • For wearables, the Apple Watch Series 7 commanded the highest average trade-in value at $89.04, a 22% value decrease from Q4 2022.
Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.