Apple will now pay you a lower amount when you trade in your existing iPhone, iPad or Mac to purchase a new device.
The company regularly updates its trade-in prices for older devices as they depreciate in value over time.
Apple regularly reduces trade in prices of old devices
For iPhones, Apple will now pay you up to $70 less than before, depending on the model. Previously, the company was willing to pay up to $650 for an iPhone 12 Pro Max. Now, you can get a maximum of $600.
Similarly, for the iPhone 12 Pro, you can now get up to $500, down from $550. Regular iPhone 12 and iPhone 12 mini see a $20 reduction in their trade-in prices.
For the iPhone 6s and 6s Plus, Apple is now willing to pay you up to $40. iOS 16 drops support for these phones, so the low trade-in value is not a surprise.
As spotted by MacRumors, Apple also reduced the trade in prices of Macs, iPad and Apple Watch. For iMac Pro, you can now get up to $1,350 — down from $1,500. As for your old (and expensive) Mac Pro, Apple will now pay you up to $1,800 instead of $2,000.
On iPads, Apple reduced the trade-in value by as much as $100.
Do note that these are the best prices that Apple can pay for your old device. The trade-in value will drop further if there are scratches, dents or other damages. You can find the trade-in value of your Apple device here.
Apple is not the best place to trade in your old iPhone or Mac
If you want the most value from your old Apple device, you should consider selling it to a friend or family member. Alternatively, you can try your luck on eBay, Craiglist or other third-party platforms. You likely will get a higher price than what Apple will be willing to pay.
You also can check out the Cult of Mac buyback program, which offers some of the best cash prices for old Apple gear, including MacBooks.
With the launch of the iPhone 14 and M2 iPad Pro lineup coming closer, older Apple devices will continue to depreciate in value. Ideally, you should consider selling your old iPhone a couple of weeks before the iPhone 14 series is unveiled to get the most value from it.