The best time to sell old iPhones

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

CUPERTINO, Calif. — If the latest announcement from Apple has you ready to upgrade, there’s no better time to do it.

The best time to sell or trade in old iPhones is after Apple announces a new model, but before the new model becomes available, Fox News reports. Fox cites data from the tech buy-back site

Customers who sell their device after the new model is announced but before the new model hits stores can get up to 25 percent more, Fox reported.

RELATED: What old iPhones are worth

RELATED: What old iPhones are worth

“We see a huge rise in trade-ins ahead of any new iPhone launch as savvy consumers rush to secure the best price possible,” Fox quoted Liam Howley with as stating. “Naturally, once a new phone enters the top of the market, all older phones will drop in price.”

According to the U.K. Telegraph, the new models tend to arrive in stores around 10 days after the phone is formally announced.

Before selling or trading in a phone, back it up, wipe all data and remove access to the iCloud account.