iPhone trade-ins up 500% as iPhone 5 is just a week away

Want to master the CMO role? Join us for GrowthBeat Summit on June 1-2 in Boston, where we'll discuss how to merge creativity with technology to drive growth. Space is limited and we're limiting attendance to CMOs and top marketing execs. Request your personal invitation here!

SellCell, the sell-your-old-smartphone site, says that iPhone trade-ins are five times higher in August 2012 when compared to the same period a year ago.

Of course, it helps that last year’s iPhone 4S announcement didn’t come until October, although it was at least as well anticipated as the current iPhone 5 announcement. But even accounting for the different dates, trade-ins in August 2012 were 450 percent higher than September 2011, totalling $8 million in the U.S. and the U.K. in just the past 45 days.

And the huge increase shows that many, many existing iPhone users are planning to upgrade in a week, when the 5 will actually be available.

In addition, the average selling price on SellCell is up 84 percent in just a week, which means that owners of even the latest iDevices are trading them in for the new new Apple smartphone … especially since the iPhone 4S is selling for an average of $385.

Considering trading your phone in? Hurry up, as the iPhone 4S has lost 10 percent of its value in just the last month.

Here are the top 10 most-traded-in phones in the U.S. in September so far:

photo credit: Valerie Everett via photo pin cc

VentureBeat’s VB Insight team is studying email marketing tools. Chime in here, and we’ll share the results.