Samsung Galaxy S3 owners who are looking to upgrade to the new Galaxy S4 should also take note as the trade-in value has dropped nearly 25% in the last three months.
Gotta Be Mobile warned owners about the impending Galaxy S3 price drop for trade in values ahead of the launch, but the $68 price drop for the average trade in for a Samsung Galaxy S3 is here, and it’s only expected to continue the decline.
Gazelle shares the average trade in prices for the Galaxy S3 vs. the iPhone 5, iPhone 4S and many others over the last three months. The chart below shows the average trade in value change from January to the end of March.
By comparison, the average iPhone price drop was 7.25%, or about $15. It helps that the rumors of an iPhone 5S release still peg the date as months away.
The Samsung Galaxy S3 is still a nice phone, but the Galaxy S4 promises a larger screen, more sensors and fresher software which is pushing down the Galaxy S3 price at trade in locations.
The uptick in Samsung Galaxy S3 deals as we near the Galaxy S4 release date is another major factor. The selling price of a new Galaxy S4 dropped 50% on contract direct from a carrier and as much as 95% on Amazon wireless which offers the Sprint Galaxy S3 for $9.99 to new customers.
Verizon even got into the act with a Galaxy S3 price-drop, which is good news as we wait for any details about the Verizon Galaxy S4 release date. While it is a good idea to buy the Samsung Galaxy S4 over the galaxy S3, users who do want the Galaxy S3 would be better off buying a used one off contract at a significant discount.
All of this downward pressure on the Galaxy S3 price at retail and the impending Galaxy S4 release date will continue to drive the prices of trade ins down.
Gazelle is currently offering up to $226 for a Samsung Galaxy S3, which would pretty much pay for a Galaxy S4 on contract, or at least take the sting out of buying a Galaxy S4 off contract.