Why Used iPhones Are Flooding the Market

August 28, 2014 5:45 AM EDT

This post is in partnership with Fortune, which offers the latest business and finance news. Read the article below originally published at Fortune.com.

By Philip Elmer-DeWitt

The market for used iPhones is a funny thing.

It hums along steadily most of the year until, just before the launch — or, more accurately, the expected launch — of a new model, things go nuts.

This year, more than ever. A few data points:

According to a survey by Hanover Research, an unprecedented 48% of iPhone owners plan to trade up to whatever Apple has up its sleeve.

Gazelle, a leading trade-in site, saw iPhone offers peak at five per second one day last week before settling down to two per second, up 50% from last year.

Another site, NextWorth, saw average daily iPhone traffic jump 350% from the previous month. “That’s up from a lift of 182% last year, or almost two times the acceleration,” NextWorth’s Jeff Trachsel told Computerworld. “There’s tremendous pent-up demand for a larger iPhone.”

For the rest of the story, please go to Fortune.com.

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