How to Earn Money from Old Electronics – Part 1

This article is part of the Make Money From Technology series:

Virtually everyone has an old phone, tablet or computer sitting around collecting dust. In an age where our gadgets become obsolete in the blink of an eye, what are you supposed to do with the ones that have outstayed their welcome? Throwing them away is simply contributing to the world’s growing e-waste problem. Giving them away is always an option, but wouldn’t it be better if you could make some cash off of your old, unwanted tech?

Sure you could always try to sell it the old-fashioned way on Craigslist. But then you have to deal with tire kickers and low ballers. Of course eBay is an option, but you run the risk of selling your item for much less than its worth.

Luckily, for those of you who don’t want to go through the hassle of Craiglist or eBay, there are a number of sites willing to pay for secondhand electronics right now.

Gazelle is an American company that pays you for your old electronics. The company will buy your old cell phones, tablets and computers, regardless of their condition. Since its inception in 2006, Gazelle has paid over $200 million to consumers for their old devices.

gazelle

Using Gazelle is fairly simple. Just fill out a short questionnaire identifying your device and what sort of shape it’s in. Once you’ve submitted the relevant info, Gazelle gives you a quote. If you’re happy with the amount, accept the offer and get it to Gazelle in one of two ways.

Your first option is to ship it to Gazelle. Once your device is received and verified, you can be paid via PayPal, Amazon gift card or check. If you’re impatient, you can head to a participating Wal-Mart and use one of Gazelle’s ecoATMs. This method will give you cash on the spot.

Another service that buys used consumer electronics, It’s Worth More, gives instant quotes and pays out via PayPal or check. The process is completely painless. Simply use their site to identify your device, determine its condition and receive an instant quote. This quote is valid for fourteen days. If you fail to ship it out within that time, the quote may be adjusted once it arrives.

itsworthmore

Once you accept the quote, you’ll be able to download a free shipping label via your choice of UPS or FedEx. Once Its Worth More receives your item, they will inspect it. If they decide to adjust their offer, they will let you know via email. Adjusted offers occur when people exaggerate the condition of the item. If this happens, you will have three days to respond to the new offer. If they don’t hear from you, they’ll assume everything is cool and process your payment for the adjusted amount.

Big box electronics dealer Best Buy is getting in on the pre-loved gadget game as well. Like the others, Best Buy requires you to fill out a brief questionnaire in order to determine the value of your item. By supplying some basic information, you’ll find yourself presented with a quote. The only issue is that your payment is in the form of a Best Buy gift card.

best-buy-trade-in

Best Buy is, however, arguably one of the more convenient options on this list. Drop into your local Best Buy and drop off the item there. Alternatively, you can ship your item via a prepaid label if you prefer. It’s a bit of a letdown that Best Buy doesn’t offer straight cash. However, if you’re in the market for new shinier gizmos, a Best Buy gift card might be just as good.

The way ItemCycle works is very similar to that of Its Worth More, although ItemCycle is exclusively for Apple products. Currently, they are buying iPhones, iPads, iPods, Macbooks, iMacs, Mac Pros, Apple Displays, Apple Watches, Mac Minis and Apple TVs.

itemcycle

The process is dead simple. Head to the ItemCycle website, find your Apple device and answer a couple of questions to get a quote. If you’re happy with the amount, print out a prepaid shipping label and send it off. Once ItemCycle receives your Apple device, they will verify it. If everything is hunky dory, you will receive a payment via PayPal or good old-fashioned check.

Finally, Nextworth is yet another company that pays you for your unwanted tech. In addition to laptops, tablets and phones, Nextworth also buys action cameras, portable audio gear and wearables.

nextworth

The process of selling your stuff to Nextworth is similar to all the rest; however, their questionnaire is a little more involved than the others on this list. Once you get a quote for your item, you can choose to be paid via PayPal or check. All you need to do is slap a prepaid shipping label on your device and send it on its way.

These sites offer a quick and easy way for you to sell your old electronics. There is always a price to pay for convenience, so don’t expect a massive windfall from these services. If you decided to sell your device the traditional way you would probably stand to make a lot more. However, for those who don’t want to put in the time or effort, these methods will pocket you some extra cash, all while cleaning out your junk drawer.

Have you used any of the services mentioned above? Let us know in the comments!

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