Picking up some cash for an old iPhone is a tried and tested way to save money when buying the latest model, and thousands of Brits expected to cash-in on the launch of Apple's iPhone 8.
With the announcement of three new iPhones in on expected on 12 September, those looking to save when buying the latest device will be trying to sell their old iPhones and plenty of others will be looking to grab deal on a second hand device.
The best time to list and sell an iPhone
The best time to list an iPhone on a deals or auction site is the day after launch, according to analysis by eBay. The online auction side will see a spike in iPhone traffic that day, with more than 250,000 searches across the marketplace for a new iPhone.
The day the new iPhone arrives in stores, which this year is expected to be around ten days after the phone is formally announced on 12 September, is the best time to sell an iPhone.
The most old iPhones are sold that day, with the current iPhone 7 attracting an average price of between £396 and £434, eBay said.
The site reported 175,000 iPhone 6 phones were sold within 90 days of the iPhone 7's release last year - representing tens of millions of pounds of trading on the second hand market.
Before selling your device you should be sure to wipe all your data from the phone and remove access to your iCloud account - first back up the phone, then go to settings > reset > erase all content and settings.
The best time to buy a cheap iPhone
While many people will be looking to ditch their old handset and buy the new iPhone 8, the launch of the new model also provides a great time for users looking to pick up the best bargains.
The best time to sell a new iPhone is launch day each year. This is the day when old models see the most sales. The iPhone is expected to hit stores in the UK on 22 September, although this has yet to be confirmed.
he best time to trade-in a device
As well as being a good time to sell your old device, trade-in companies have been offering discount rates for iPhone users hoping to swap their old device ahead of the iPhone 8 launch.
MusicMagpie, which allows customers to trade old devices for cash, was offering 25% more for their old device ahead of the launch, with prices of up to £455 for an iPhone 7.
Should you buy a second hand iPhone?
There are always risks with picking up a second hand piece of tech on the internet. Battery life is likely to have suffered if the device has been well used, while nicks and scratches are common.
eBay's own advice says if the price looks too good to be true, it probably is. People buying an iPhone should look for one without too much visible wear and tear, although some scratches are to be expected. The screen should be in good condition and the buyer should ask if the device has been kept protected by a case and screen protector.
They should also ask if there has been any issues with water damage, and if in doubt ask to be shown the headphone jack (on an iPhone 6s or iPhone SE). If there is pink discolouration it could mean the device has suffered water damage.