How Much is an iPhone 8/8 Plus Worth? - Mobile Klinik

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How Much is an iPhone 8/8 Plus Worth?

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Are you looking to sell your iPhone 8 or 8 Plus but are unsure how much it’s worth? As a tech-savvy individual, you know that upgrading your smartphone every few years is a smart move. While these models may be a few years old, they still hold their value in the market. In this article, we’ll explore the iPhone 8 and 8 Plus value, so you can get an idea of what to expect when selling your device.

Key Insights 

  • Despite being over five years old, the iPhone 8 is still a strong contender in the resale market, as it offers functional features at a fraction of the price of a new iPhone.
  • You can maintain the condition of your iPhone 8 by using screen protectors and cases and staying clear of water and extreme temperatures.
  • Many factors impact how much your iPhone 8 is worth during trade-in. This includes its condition, storage, and how many years it’s been since its release.

Table of Contents

Used iPhone 8 Maximum Trade-in Values

Model
Very Good
Good
Acceptable

Model Apple iPhone 8 64 GB
Very Good
Good
Acceptable

Model Apple iPhone 8 256 GB
Very Good
Good
Acceptable

* Price updated as of July 2024

 

Used iPhone 8 Plus Maximum Trade-in Values

Model
Very Good
Good
Acceptable

Model Apple iPhone 8 Plus 64 GB
Very Good
Good
Acceptable

Model Apple iPhone 8 Plus 256 GB
Very Good
Good
Acceptable

* Price updated as of July 2024

Despite not being equipped with the latest technology and processor features in more recent iPhone models, the iPhone 8 and 8 Plus remain reliable options for handling everyday tasks, such as web browsing, video streaming, and photography. These models have already experienced significant depreciation over time, as they are more than five years old and have seen many new releases since then. However, this doesn’t mean they have no value. As they continue to depreciate over time, this benefits buyers seeking a good deal but is less favourable for sellers hoping to maintain the device’s value.

The enduring demand for Apple products worldwide ensures that there are buyers out there willing to give you a decent return on your initial investment when you sell your iPhone 8 or 8 Plus.

What’s the Difference Between Phone Conditions? 

How much an iPhone 8 or 8 Plus is worth depends on its overall state. Generally, smartphones can be categorized into three conditions: Very Good, Good, and Acceptable.

  • Very Good: A smartphone in this condition has minimal to no scratches or scuffs on the outer body. The display should also be free of cracks or major blemishes. All buttons, ports, and features should work perfectly, and the battery ideally retains a strong charge. When it comes to resale value, an iPhone 8 or 8 Plus in excellent condition generally commands a higher price compared to devices in lower condition grades.
  • Good: A cell phone in good condition may have some minor scratches, but the display should be free of cracks or any severe damage. All the features should work properly, and the battery should hold a decent charge. 
  • Acceptable: These phones have noticeable scuffs to the exterior body, and the display has scratches. All the ports, buttons, and features should still work, but the battery may have some wear and tear. An iPhone 8 or 8 Plus in Acceptable condition would have the lowest resale value compared to Very Good or Good.

What was the MSRP of an iPhone 8/8 Plus? 

Upon its release in 2017, the manufacturer suggested retail price (MSRP) for the 64 GB iPhone 8 was $929 (CAD), while the $256 GB  model went for $1,139 (CAD). The iPhone 8 Plus, on the other hand, had an MSRP of $1,059 (CAD) for the 64 GB and $1,269 (CAD) for the 256 GB model.

What Affects the Price of a Used iPhone 8/8 Plus? 

Many factors affect how much you can get for an iPhone 8 or 8 Plus. Here are some examples:

1. Storage

Generally, phones with higher storage capacities will yield a higher price in the secondhand market. This is because users are typically willing to pay more for phones with more space to store their photos, videos, and other files. The iPhone 8 and 8 Plus devices come in 64, 128, and 256 GB. This means you can expect a higher trade-in value if you want to sell a 256 GB model.

2. Phone Condition

As mentioned above, your iPhone 8 or 8 Plus condition greatly affects its resale value. Phones in Very Good condition typically sell for more than those with just an Acceptable rating. This is because buyers are more likely to pay more for phones that look and function like new. Therefore, it can be worth investing some time and money into cleaning your phone and making any necessary repairs before selling.

3. Carrier

An unlocked phone compatible with multiple carriers will sell for higher prices than those locked to a specific one. Buyers like the flexibility to switch carriers if needed. Canada’s Wireless Code banned the locking of devices in December 2017. However, because the iPhone 8 and 8 Plus were released before this, locked devices may still be circulating in the market. If this is the case, the Wireless Code mandates that you can go to the carrier to unlock it free of charge.

4. Negotiation Power

Like anything up for sale, negotiation power can affect your iPhone 8’s resale value. If you have multiple interested buyers, you may be able to negotiate a higher price. On the other hand, if you’re in a hurry to sell or there aren’t many prospective buyers, you may need to lower your asking price to make your listing more attractive. Generally, when you sell your phone privately, this is where the most flexibility may occur in negotiations. On the other hand, if you sell to a third-party brand, the quote you receive is likely what you’ll receive — but some deals and negotiations may still be possible.

Where is the Best Place to Sell a Used iPhone?

If you want to sell your used iPhone 8 or 8 Plus, there are several options available to you, like the following:

  • Online Marketplaces: Sites like eBay and Facebook Marketplace are popular options for selling used phones. These platforms allow you to list your device for sale and connect with interested buyers in your area or around the world. Keep in mind that you’ll need to handle shipping and payment yourself, and you may encounter occasional scammers or lowball offers.
  • Reputable Retailers: Many retailers and carriers offer buy-back or trade-in programs where you can sell your used phone in exchange for store credit or cash. For example, at Mobile Klinik, when you bring your iPhone 8 or 8 Plus to us, we’ll provide a quote, and you’ll receive payment through a Visa gift card or in-store credit, depending on the device’s condition. This method not only puts money back in your pocket, but it also helps the environment by reducing the amount of e-waste in our landfills.

How Does Time Affect the Price of a Used iPhone? 

On average, the iPhone depreciates by 11 to 20% each year. Over the course of four years, these devices typically lose just under 50% of their initial trade-in value. Keep in mind that these are general metrics, and value is highly dependent on current market trends, the condition of your phone and how many years it’s been since its original release. Here’s an example of what an iPhone’s depreciation may look like:

Day 1 Year 1 Year 2 Year 3 Year 4
Value (CAD) $929 $800.52 $691.89 $613.71 $487.90
Average Loss 0 -13.83% -13.57% -11.30% -20.50%

 

How do I Maintain the Value of my iPhone 8?

If you want to sell your iPhone 8 or 8 Plus at the highest possible price, keeping the phone in good condition is important. Here are some tips on maintaining value:

  • Use a case and screen protector: This is the easiest way to prevent scratches, dings, and other damage. These accessories can absorb impact from drops and protect your phone from daily wear and tear.
  • Clean your phone regularly: Dirt, dust, and grime can build up on your phone over time, which can not only make it look unsightly but also cause damage. Use a soft, lint-free cloth to wipe your device down.
  • Avoid water damage: Even though the iPhone 8 has some water resistance with an IP67 rating, this doesn’t make it waterproof. It’s essential to keep your device in dry environments as much as possible to extend its lifespan.
  • Keep the battery healthy: Avoid letting your battery run down to 0% or keeping it at 100% for extended periods. Also, avoid exposing your phone to extreme temperatures.

Frequently Asked Questions

Can I sell a locked iPhone 8?

Yes, you can sell a locked iPhone 8, but finding a buyer may be more difficult. Locked phones are usually tied to a specific carrier, which creates inconvenience and inflexibility. If you plan on selling a locked iPhone 8, disclose this information upfront.

When is the best time to sell an iPhone 8?

Generally, the best time to sell an iPhone is before a new model is released. This is because demand for previous models tends to decrease after the new one is released, which can result in a lower resale value. However, this rule is less relevant since the iPhone 8 is over five years old and will continue depreciating. So, the sooner you can sell it, the better.

Is selling a used phone worth it?

Yes, selling a used phone can be worth it if you want to make extra money or upgrade to a newer model. While you may not get the same amount you paid for your iPhone initially, selling it can still provide a decent return in your pocket to help you pay for accessories or part of your new device. Additionally, selling a used phone can help reduce electronic waste and give someone else access to technology they may not have been able to afford otherwise.

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