The iPhone 18 Pro costs more — and your old iPhone is worth less

Apple just announced the $1,199 iPhone 18 Pro and the $1,999 foldable iPhone Duo. If you were hoping to soften those prices by trading in your current phone, however, Apple may have some bad news for you.

Following its "Surprise and Shine" event, Apple updated its trade-in program and lowered the maximum amount it will pay for previously eligible iPhone models.

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An iPhone 16 Pro Max is now worth up to $610, down from $720. The iPhone 16 Pro took an even larger hit, dropping from as much as $630 to $510 — a $120 reduction. Some depreciation is expected whenever Apple releases a new generation of iPhones, but the timing is particularly notable because Apple had raised trade-in values for many of these same devices just last month. In August, the iPhone 16 Pro Max jumped from $695 to $720. Following this week's event, it's down to $610.

The cuts continue throughout Apple's older lineup. An iPhone 15 Pro Max is now worth up to $455, down from $530, while the iPhone 15 Pro fell from $420 to $370. Maximum trade-in values for the iPhone 14 Pro Max and iPhone 14 Pro dropped to $360 and $285, respectively.

Here are some of the most notable changes:

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• iPhone 16 Pro Max: Up to $610, down from $720

• iPhone 16 Pro: Up to $510, down from $630

• iPhone 16 Plus: Up to $430, down from $485

• iPhone 16: Up to $430, down from $480

• iPhone 16e: Up to $270, down from $310

• iPhone 15 Pro Max: Up to $455, down from $530

• iPhone 15 Pro: Up to $370, down from $420

• iPhone 15: Up to $305, down from $335

• iPhone 14 Pro Max: Up to $360, down from $405

• iPhone 14 Pro: Up to $285, down from $335

Apple also added last year's iPhone 17 lineup to the trade-in program. The iPhone 17 Pro Max is eligible for up to $885, while the iPhone 17 Pro tops out at $785. Both the iPhone Air and standard iPhone 17 are worth up to $585.

Interestingly, those starting values are more generous than what Apple offered for the previous generation when it became eligible for trade-in. Last year's iPhone 16 Pro Max, for example, initially topped out at $700, compared with $885 for the iPhone 17 Pro Max today.

There may also be a small silver lining for anyone trading in a less-than-pristine device. Apple is reportedly becoming more forgiving of minor cosmetic damage, including small chips or cracks in the display. That could mean some damaged iPhones receive better assessments than they would have under the previous system, even as maximum trade-in values decline.

And the reductions aren't universal. They primarily affect iPhones. Every eligible iPad gained value, with the iPad Pro jumping from $720 to $905. Most Macs also received increases: The MacBook Pro rose from $855 to $1,315, while the Mac Studio climbed from $1,305 to $1,460. Apple Watch values were generally reduced or left unchanged.

Of course, these figures represent the most Apple will offer, not guaranteed payouts. The final amount depends on the device and its condition after inspection. Still, the timing stings: Apple's newest iPhones are more expensive, while many of the devices customers might use to help pay for them are suddenly worth less.

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