If you’ve got an older iPhone you’ve been planning to trade in soon for credit toward your next Apple purchase or maybe for an Apple Store gift card, we’ve got some unwelcome news.

Unfortunately, the maximum amount you’ll be able to get for your handset (in addition to other Apple products like iPads, Macs, and older Apple Watch models) today is a bit lower than you’d have been able to walk away with even just earlier this week. The iPhone maker, overnight, apparently decided to cut the maximum trade-in value you can get for those products, with the trade-in value reductions spanning everything from a $20 drop to as much as a $100 reduction (with all of the new values listed on Apple’s trade-in web page).

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With the maximum trade-in adjustments, some of the biggest cuts include a maximum $500 trade-in value for an iPhone XS Max (which was previously $600). For an iPad Pro, you’d now get a maximum of $220 (compared to $290 before), while an iMac Pro would fetch up to $4,150 (compared to $4,240 before now). Apple Watch models took the least hit on the trade-in front, with the max value of an Apple Watch Series 4 upon trade-in now set at $100, down just $10 from the prior maximum.

The maximum trade-in values of the Apple Watch Series 1, 2, and 3, however, remain the same ($30, $60, and $70, respectively).

Below, you’ll find the new maximum trade-in values for iPhones from the 6s, up to the XS Max:

The reductions don’t seem to be US exclusive and also apply to other countries and regions.

Maybe Apple decided to do this because the trade-in program is becoming increasingly popular and utilized? CEO Tim Cook basically said as much in an October interview, noting that: “This year we’ve really moved the dial on getting the consumer to think about trade-in. We were up to a third or more of the people that come into our stores that are trading in, and this number is trending up.”

Source: Bgr