By Louis DeNicola, Cheapism.com
For iPhone owners who plan to upgrade after Apple's Sept. 10 media event, now is the moment to start looking at where and how to sell their current phones. Experts familiar with the resale market warn that the value of a current iPhone 5 will drop dramatically in the weeks to come. Anyone who wishes to upgrade to the iPhone 5, on the other hand, need only bide their time to get a bargain.
Related: Best smartphones for a penny or lessiPhone 5 is on its way out.
We spoke with Nik Ramen, chief operating officer and co-founder of uSell, a service that connects sellers to a network of professional buyers, to gather some inside tips on selling an iPhone. His first point: Lock in a price right away. USell's data from previous iPhone releases show that the current edition loses 5 percent of its value in the first week following the new edition's launch, 12 percent by the second week, and 20 percent by the third or fourth week.
Jeff Trachsel, chief marketing officer ofRead More »from Why Now is the Time to Sell Your IPhone