If you were hoping to get a good trade-in value for your old iPhone—tough luck. Apple quietly adjusted the maximum trade-in rates for all of its devices, including the iPhone, iPad, Mac, and Apple Watch.

Apple probably made this change to prepare for the iPhone 14. Analysts like Ming-Chi Kuo state that the new iPhone is on track to launch this September, and leaks indicate that it will be the first new iPhone without a notch.

Here are Apple’s new maximum trade-in rates for select iPhones:

• iPhone 12 Pro Max: $600 (Previously $650)
• iPhone 12 Pro: $500 (Previously $550)
• iPhone 12: $400 (Previously $420)
• iPhone 12 Mini: $300 (Previously $320)
• iPhone SE (2nd generation): $140 (Previously $150)
• iPhone 11 Pro Max: $400 (Previously $420)
• iPhone 11 Pro: $300 (Previously $350)
• iPhone 11: $230 (Previously $300)
• iPhone XS Max: $220 (Previously $250)
• iPhone XS: $170 (Previously $200)
• iPhone XR: $160 (Previously $200)
• iPhone X: $150 (Previously $170)

A full list of Apple’s trade-in offers are available at the company’s website. Until the iPhone 14 launches, Apple will not accept iPhone 13 trade-ins.

To be clear, this change isn’t unusual. Smartphones and laptops grow less valuable as they age. Adjusting maximum trade-in value before launching a new product just makes sense, and Apple does it every year.

The trade-in rates offered by Apple have never been generous. Reselling is usually the best way to maximize an old Apple product’s value. But trading a device with Apple ensures that you don’t get scammed. You just mail the device with Apple’s pre-paid kit or take it to an Apple Store.

Source: Apple via MacRumors