In the UAE, the prices of older iPhone models have decreased, yet the new iPhone 17 from Apple is still being sold at a premium. Even a week after its release, customers are willing to pay an additional Dh500 to Dh1,000 to acquire the latest model, while others opt for discounted older versions.
Currently, at local stores, a new iPhone 16 Pro Max 256GB is available for around Dh4,300, while a used one costs Dh3,600. Prior to the iPhone 17’s launch, this model was priced approximately Dh300 higher.
The iPhone 15 Pro Max 256GB has also depreciated. A new unit now costs Dh3,800, which is Dh500 less than its price two weeks ago. The price of a used iPhone 15 Pro Max has dropped to Dh3,000, marking another Dh500 decrease since the latest model was introduced.
Mohammed Ashraf from Classic Communication in Deira noted that the drop in older model prices was anticipated but occurred sooner than usual. “Typically, old iPhone prices decrease gradually. No one expected the new design, so when it was unveiled, older versions’ prices plummeted overnight,” Ashraf explained.
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Despite these reductions, customers are eager to purchase the iPhone 17 Pro Max, paying extra to obtain it immediately.
“Customers are not willing to wait. Even with slow stock arrivals, they pay more to get the iPhone 17 Pro Max instantly,” stated Moideen Mustafa from Phone Line.
“This time, the price drop was abrupt as everyone is pursuing the new 17,” he added. “This is due to the phone’s new design and features.”
Why are people paying more
Retailers report that the excitement and social pressure drive buyers. The iPhone is a status symbol, and having the latest model first is crucial for many users.
“Some customers don’t mind spending Dh1,000 more to be the first among their friends or coworkers with the new phone. It’s a matter of showcasing the latest model,” said Mustafa.
He also noted that some buyers prefer local shops to avoid waiting for official stocks in larger stores. “They trust local dealers, even if it costs extra. It’s about availability and convenience,” he remarked.
Selling old phones to upgrade
A noticeable trend is emerging where many customers sell their old iPhones to upgrade to the new one, increasing the supply of used iPhones and further pushing prices down.
“Many buyers trade in their iPhone 15 or 16 to offset part of the iPhone 17’s cost. This contributes to the rapid decline in used phone prices,” said Mustafa.
Retailers expect the iPhone 17 to continue selling at a premium for a few more days until supply stabilizes. Older models are likely to lose more value as trade-ins increase and customer focus shifts.
