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How to get Apple’s new iPhone for half price

It’s “iPhoneapalooza 8” time.

Apple AAPL, +1.01%unveiled the 10th-anniversary iPhone Tuesday. Once again, resale sites have reported a surge in trade-ins of old iPhones ahead of the announcement, but they expect trade-in prices to drop in the days after the big event. For now, though, consumers can still lock in high enough prices to earn 50% back on the cost of the new iPhone 8 by trading in their old gadget and upgrading to a new phone.

The market has become crowded for old phones in 2017, however. In previous years, it was possible to cover the entire cost by selling an iPhone that was over two years old.

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