iPhone 18 Pro Max drops £499 for trade-in on launch day – Envirofone

The new £1,299 iPhone 18 Pro Max launched today has immediately lost almost £500 of its retail value , according to the latest Envirofone Apple Depreciation Index. 

The 256GB iPhone 18 Pro Max went on sale today (18 September) for £1,299, but Envirofone is offering £800 for the same device in excellent condition £499, or 38 per cent, below its launch price.

The Envirofone Apple Depreciation Index uses original UK Apple launch prices including VAT and compares them with cash prices Envirofone was prepared to pay on 18 September for equivalent devices in excellent condition. Devices with trade-in values below £2 and models without a current trade-in price were excluded from its averages

The £1,199 iPhone 18 Pro fares only slightly better. Envirofone values the 256GB model at £750, representing an immediate £449 reduction and leaving it with 63 per cent of its retail price.

“£499 disappearing from the value of an iPhone on the day it launches sounds pretty brutal, but it shows just how quickly new tech depreciates. Most people think their phone starts losing serious value when the next model comes out. *In reality it starts from day one. If you’re planning to upgrade, the timing of when you sell your old device can make a surprisingly big difference”, said Envirofone CTO Sam Hargreaves

The iPhone Air is 2026’s fastest faller Since January the iPhone Air’s trade-in value has dropped by £85 (15 per cent). Over the same months the iPhone 17 Pro gained £20.

The figures form part of the September 2026 Envirofone Apple Depreciation Index, which matched the original UK launch prices of 177 Apple devices against current trade-in values. Prices were captured on 18 September and are based on devices in excellent condition. (Envirofone)

Half the value gone in two years

Envirofone’s analysis shows the biggest depreciation occurs during the first year of ownership.

Across the iPhones analysed, a handset bought for the equivalent of £1,000 is typically worth £580 after one year which is a 42 per cent reduction.

After two years its value falls to £494, dropping to £353 after three years and £214 after five years. In other words, the typical iPhone has lost around half its original value within two years and almost four-fifths after five. 

The figures also highlight substantial differences between individual models.

The iPhone Air has been the fastest-falling iPhone during 2026. Its trade-in value has fallen £85, or 15 per cent, since January and it is currently valued by Envirofone at £465 against its £999 launch price.

Over its first year, the Air has lost £534. By comparison, the more expensive iPhone 17 Pro has lost £454 since launch and its trade-in value has actually increased by £20 since January. 

Current Envirofone values put the iPhone 17 Pro at £645 against its £1,099 launch price, while the iPhone 17 Pro Max is valued at £695 compared with an original £1,199 price.

iPads retain value better

The index suggests iPads have considerably stronger long-term residual values than iPhones.

Among Apple products between three-and-a-half and five-and-a-half years old, iPads retain a median 33 per cent of their launch price, followed by Macs at 28 per cent and Apple Watches at 23 per cent.

iPhones retain 22 per cent over the same period, while AirPods are at 15 per cent. 

AirPods Pro 3 recorded the steepest first-year fall of any Apple product tracked by the index, losing 77 per cent of its value.

Envirofone said the data illustrates how the cost of owning a device can differ substantially from its headline purchase price once residual value is taken into account.

For example, an iPhone 16 Pro launched at £999 and currently valued at £515 has effectively cost around £20 a month in depreciation over two years.

NB: Sam Hargreaves will be speaking about trade-in dynamics at Mobile News’ Circular Summit on November 17 at the Hilton London Bankside,  Secure your place.