Apple Inc. (NASDAQ:AAPL) guru Gene Munster has begun a new monthly report looking at the iPhone’s resale value in comparison with Android phones. He said his team at Piper Jaffray has been tracking eBay auction prices for the iPhone 5, iPhone 4S, iPhone 5, Galaxy S3 and Galaxy Note 2 since March 15 in the U.S.

iPhone 5 vs Galaxy S4

Resale Values Of Apple’s iPhone Models

According to Munster, the iPhone 4S led the pack in terms of holding its value. He said the iPhone 4S has only lost about 7 percent of its value, while the iPhone 5 lost 11.2 percent of its value. The resale value of the iPhone 4 was recorded to be 8.8 percent.

He notes that the rapidly falling secondary price for Apple Inc. (NASDAQ:AAPL)’s iPhone likely means that current iPhone users are expecting to see a refreshed model soon. He said another possibility is that the market is shifting toward a preference for Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930)’s new Galaxy, which came out within the last few months.

Resale Values Of Samsung’s Galaxy Models

Munster reported although the iPhone 5’s price is 46 percent higher than that of the Galaxy S3, he noted that it held its value a bit better over the past two months. The Galaxy S3 actually lost about 13.7 percent of its value.

The resale value of the Galaxy Note 2 declined the most of all the phones tracked. It fell by 15 percent.

Expectations For Upcoming Resale Values

Munster believes that the aftermarket price for the iPhone will continue to fall ahead of the expected September launch of the iPhone 5S.

He maintains his overweight rating on Apple Inc. (NASDAQ:AAPL) and his price target of $655 per share. Shares of Apple Inc. (NASDAQ:AAPL) fell 2.39 percent in trading on Tuesday.