The iPhone 8 has been available for a little over 9 months now and as we approach the phone’s first official birthday, you may be asking yourself — “When will the iPhone 8 price drop?”
The answer to that question is easy and although we can’t say with 100% certainty what will happen, we can make an educated guess based on Apple’s previous history with iPhones launches to predict when the price of a brand new iPhone 8 will drop.
You see, whenever Apple announces an all new iPhone they keep the previous model around, dropping its price by around $100 or so. It remains in Apple’s lineup for another year or two where it’s offered as a slightly more affordable option for those who don’t care about having the latest hardware.
During its first year on the Earth, the iPhone is rarely (if ever) the subject of any sort of deals or discounts, at least when buying direct from Apple. Sometimes we’ll see Apple throwing in an iTunes gift card, but they remain firm on pricing until the new model hits store shelves.
This isn’t the same story for used models where we see iPhone pricing constantly depreciate. By looking over some of the data from the Swappa marketplace, we can predict some of the best and worst times to buy an iPhone.
iPhone 8 Price Drop
Although the used price of the iPhone 8 is ever falling, the most dramatic changes happened during the first few months following its initial release. According to our data, there’s a 13% drop in price that occurs between September though January, with the October and November accounting for the majority of that. This is something we’ve also seen reflected in used pricing for the iPhone 7.
Things plateau a bit after that, only a 7.72% decrease in price from January to June, with another dip taking place between April. We expect the price to continue to plummet as we approach September when, not only will we see another new iPhone announced, but retail pricing of the iPhone 8 likely drop by $100.
Best time to buy an iPhone 8
For those that don’t like to wait, anytime after November is a great time to buy. That’s when we see the iPhone 8’s price fall the most (a full 12%) with slightly more gradual changes after that.
or those that don’t mind investing in a year-old iPhone, you can expect another big drop in September when the iPhone 9 is announced. Again, it’s during this time you can expect the retail price of the iPhone 8 to drop by $100, sparking a big drop for used models as well.
Worst time to buy an iPhone 8
If you’re buying new, it’s probably wise to hold off on a new iPhone purchase the closer you get to the month of September. By simply waiting a few more weeks, the current gen model you’ve been eying will drop by $100 when its successor is announced.
Those looking to get the best deal by buying a used iPhone, since the price is always falling there’s no real “bad” time to buy. It really comes down to how long you’re willing to wait before finally pulling the trigger.
That being said, the “worst” time to buy a used iPhone would have to be in September and October, just after the phone is released. Seeing as how the price is still in a free fall, you could save even more money by simply waiting until it hits its biggest drop in November.
Also, similar to our advice for the new model, the closer you get to September, it’s probably best to wait until the new iPhone model is announced before pulling the trigger. This will see the new MSRP drop by $100 with used models also following suit.
Those looking to buy a new iPhone, we hope this post was informative to you. By sharing our data from the Swappa marketplace, we hope it helps you make a more informed buying decision before investing your hard-earned money on an iPhone 8 (or any iPhone for that matter).
With Swappa, you’ll always find the best deals on the iPhone and can browse our entire iPhone 8 and 8 Plus selection by simply clicking the appropriate link below. Happy shopping.