Apple 2.0

Covering the business that Steve Jobs built

Trade-ins at Gazelle shot up four-fold at the iPhone 5S launch

September 20, 2013: 3:31 PM ET

Between 10 and 11 a.m. Eastern offers were pouring in at the rate of five per second.

401396629425FORTUNE -- Gazelle, those guys in orange hoodies who pay cash for used smartphones, reported a sharp uptick in traffic Friday, the first day customers for the iPhone 5S could lock in the price of their old devices.

Specifically:

  • Trade-ins were up four-fold Friday morning compared with the iPhone 5 launch last year
  • Between 10 and 11am Eastern, Gazelle's electronic trading desk recorded as many as five offers per second
  • The average value per trade-in was $50 higher than last year, thanks to the large numbers of new-model smartphones that came in (iPhone 5, Samsung Galaxy S3 and S4).
  • SamsungĀ offers were up 70% from last month. Samsung was the most popular non Apple (AAPL) brand traded in by factor of three.
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Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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