Make Cash on Old Electronics – Trade-In Services and How They Work

Written by: John Landers

Make Cash on Your Old Electronics, Trade-In Services and How They Work

The consultants Compass Intelligence estimates 278 million mobile units lay inactive or deactivated – 50% smartphones. One of the hardest things for many of us to do is to depart with old electronics- cell phones, cameras, computers, GPS and other items. Part of the problem has known where to sell or dispose of these items.

However, in the last few years, a number of trade-in service companies have sprung up.

Some establishments have walk-in services. Others companies operate as sole online businesses.

Electronic Trade-In Companies

One of the main online trade-in companies is Gazelle.com, a subsidiary of Second Rotation Inc., out of Boston, Ma. Gazelle bills itself as a reCommerce service to sell people sell their used items. The company buys “smashes, broke, soaked or plan dead”  iPhones. Gazelle specializes in Apple products BlackBerry, Android, and other phones.

The company first approach is to extend a product life for reuse and to prevent creating e-Waste and to give sellers some value for old electronics. Gazelle recycles electronics that no longer has value. After completing its inspection, the company makes payment and route the item to its next destination as determined by the results of the inspection.

Users unsatisfied with the company’s price can elect to have the item shipped back or recycle the product.

How the Service Work

You will need the model of the component and follow the instructions for determining the condition of the item. After receiving an initial quote, you can usually ask for a re-evaluation. For items in good condition, the seller prints out free, prepaid shipping label and send the component off for inspection specially trained technicians.

The services provide email status updates. Companies make payments by check or PayPal. The companies do not accept every item offered for sale.

When Gazelle receives significant quantities of electronics, it sells the items to wholesale operations who resell them around the world.

Some other trade-in sites include NextWorth.com – phones, cameras, games, and tablets, NewtonsHead.com  – Apple products and Swappa.com  – Android products. To get rid of old electronics, check with BuyMyTronics.com  or BuyBackWorld.com.

Popularity of Products

According to Robin Dhar, founder of Priceonomics.com, a site that specializes in price guides for a wide range of items, including appliances, electronics and videos, Apple products commands the most activity. While most mobile phones lose value immediately after purchase, iPhones retain over 50% of its value. Android products hold 42 percent of original value and Blackberry 41%.

Maintaining Electronic Devices

Think about selling your electronics from the time you make the purchase. A   New York Times article offers the following tips to obtain the best resale value:

·         Keep the original receipt and keep the box to use for shipping late

·         Buy an extended warranty, which enhances resale value

·         Replace cracked a screen

·         Keep the original device charger and accessories

According to the Times article, the best time to resale an Apple iPhones a couple of weeks before the scheduled release of the new iPhone. Keep in mind that Apple usually offers significant discounts on previous product models. Time your sale to avoid taking a price hit.


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