Apple quietly slashed the trade-in value for most of its products, including a long list of iPhone, iPad, Mac, and Apple Watch models.
The reductions were reported by MacRumors, which revealed that the maximum estimated trade-in values for the Apple products changed overnight. For example, the iPhone XS Max showed an estimated trade-in value of up to $600 on January 9, but on January 10, it was lowered to $500.
According to a list of trade-in prices compiled by MacRumors, the iPhone XS Max received the biggest reduction at $100. However, all iPhone models since the iPhone 6s, the oldest one accepted in the trade-in program, received reductions to their maximum trade-in values from $20 to $80.
Also affected are all the iPad models under the program, namely the iPad mini, iPad Air, iPad, and iPad Pro. The iPad Pro received the biggest reduction at $70, from $290 to $220, while the other models’ maximum values were slashed by either $30 or $40.
Meanwhile, for Mac computers, the iMac Pro took the biggest hit with the maximum value by lowered $90, from $4,240 to $4,150, while the trade-in values of the MacBook Pro, Mac Pro, and Mac mini were not affected. The Apple Watch was the least affected by the changes, as the trade-in values of the Apple Watch Series 1, Series 2, and Series 3, remained the same, while the Apple Watch 4’s value was lowered by only $10, from $110 to $100.
MacRumors reported that the trade-in value reductions were not only spotted on Apple’s online store in the U.S., but also in other countries and regions such as the U.K. and Germany.
Apple has not publicly announced the changes, but the lower trade-in values are already in effect, as seen on the program page on the official Apple website.
Apple has heavily promoted its trade-in program on its website and at its retail stores, with CEO Tim Cook recently claiming that a third or more of customers who visit Apple’s retail stores end up trading in an older device for a newer model. With the increasing popularity, perhaps Apple is trying to squeeze out a bit more profit from the program, or it may be because of new calculations for the depreciation of the device values.