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How to Make Money by Selling Old Gadgets

Old GadgetsThese days it seems that new smartphone’s are launched onto the market every month, whether it is Apple, Samsung, HTC or Nokia – it doesn’t matter who the manufacturer is. To make matters worse, we get commercials telling us why the latest phone is a must have and that we’re losing out if we don’t buy one.

The thing is, the average American upgrades his or her phone roughly every 20 or so months. These “old” phones that were once flagship models then get tossed into the junk drawer in your kitchen, given to your kids to play with or worst of all thrown in the trash. I’ve not read an actual report, but the latter can make you shudder to think of the number of smartphones that get thrown away each year.

If throwing away your old phone isn’t something you want to do and you want to make a little extra money for your efforts you can use a trade-in site like SellCell.com to get you top dollar for your old phone or tablet. While some sites won’t allow you to sell gadgets that are damaged or broken, some will. The point is that just because your gadget is not in top condition doesn’t mean you can’t get cash for it.

SellCell, as with some other trade-in sites, allows you to compare prices from a variety of vendors. Not only does this give you more control in the situation but also allows you to get a better idea of what the market is for the item in question.

The Advantages of Using Trade-In Sites

  1. You are preventing phones ending up in landfills
  2. You are cashing in on a phone or tablet you may no longer plan to use
  3. You get the price you see (no fees for advertising, or final value fees)
  4. Guaranteed sale
  5. You don’t even need to leave your house

Using Your Cash For an Upgrade

If you happen to be upgrading, another option to consider is using the cash from your trade-in on the new to you model. With most cheaper model smartphones starting out at several hundred dollars it makes sense that you’d want to lower that cost – thus the beauty of trading in one phone for another.

While you’re at it, as you’re changing out your phones, this is a perfect time to look for ways to save money on your cell phone bill and ditch the $150+ you’re on. 🙂

Time is Money

The one thing to keep in mind is that technology is somewhat like cars – if not worse. The older your phone or tablet is the less it’s going to be worth and the more it will depreciate. Thus, if you know you’re item is getting up there in age the best bet might be to try and sell it as soon as you can to get top dollar.

I know it might be a hassle to round up your old gadgets. They may be covered in dust or being used as a door stop somewhere, but why not try and make a little money out of it? Depending on what you have lying around the house you may have a nice little sum of cash you can get back – but you’ll never know until you check it out.

 

 

 

Photo courtesy of: Canned Tuna

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John Schmoll is a Dad, husband and veteran of the financial services industry. He's passionate about helping people learn from his mistakes so that they can live lives free from the shackles of debt and empowered to make their money work for them. You can check out his other sites: Frugal Rules, for ways to improve your financial literacy; and Sprout Wealth for tips on different ways to make more money. John has been featured on Forbes, Lifehacker, Yahoo Finance and US News & World Report and more. If you're wanting to grow your blog, check out my blog coaching services to see how I can help you take your site to the next level.

2 comments

  1. I was asking myself if there were still people out there who would buy gadgets in the picture. Maybe collectors. I actually sell my gadget online or to friends once I haven’t used it for three months.
    Jayson @ Monster Piggy Bank recently posted…My Health Is A Priority – Is Yours?My Profile

  2. Cool. I still have a few Nokia’s lying around. I’m trying to keep it until it get vintage and antique. But this looks like a good idea as well.
    The Money Spot recently posted…The Math Behind Your Savings Rate & Retirement Date!My Profile

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