If you’re a tech enthusiast — or just paying attention to the increasingly rapid development of technology — you know that gizmos and gadgets are regularly being reworked and upgraded. At every quarterly turn, it seems like there’s a device, or an upgraded version of an old device, being released.
In particular, Apple seems to introduce a new version of the iPhone every year, and the incredible new technologies in each phone make it more and more difficult to resist. Recently, I decided to purchase the new iPhone 4S. And, if I hadn’t found a way to make the money back by selling my old iPhones, I might feel guilty.
Believe me, I am not a chronic upgrader. Generally, I tend to prefer hand-me-downs. But on this one, I had to join the craze and upgrade to the iPhone 4S.
My frugal instincts were up in arms: Not only did I spend $250 to upgrade from an older model device that worked perfectly fine, I put my 3rd generation iPhone in a drawer to collect dust, unused.
Then, as I was searching eBay for a new iPhone case, I stumbled upon a way to make back the money I had spent.
Old iPhones Still Have Value
Little did I know that my unlocked iPhone 3GS was still a fairly hot commodity, even after two subsequent model updates. On eBay, some of these phones are still listed at over $400! I wasn’t about to let a wanted commodity depreciate in the depths of my drawers.
I decided to look at prices for some of my other old technologies, and realized I could even squeeze out around $50 for my first generation iPhone, tucked away somewhere in my closet.
With $200 in prospective earnings on the table from “obsolete” cell phones, I didn’t feel bad about splurging for the new phone. Some find it more absurd that there is still a demand for older products and that consumer are willing to pay top dollar, but there is; and if you don’t care about parting with your old devices, you too can spring for the new without breaking the bank.
You don’t have to sell on eBay, either, PerkStreet’s already reviewed other resale companies like Gazelle, NextWorth and BuyMyTronics.
Unlocked Phones Most Valuable
Unlocked devices are in high demand within the used market because of their flexibility: Individuals who do not want to be tied down to a contract can swap in a SIM card and use their unlocked phone immediately.
International buyers are also interested in unlocked products as they can be used with any cellular phone carrier overseas. Despite the continued interest in used, past generation devices, taking the initiative to sell them sooner rather than later will likely get you greater returns on your sale.
Have you sold old phones, computers, MP3 players, or other technologies on eBay? Did you find there was a market for the device? Tell us about your successes or failures in the comments section below.
Jennifer Calonia is a PerkStreet Customer Columnist and a contributing writer for GoBankingRates, a national rates publication and financial resource. She graduated from California State University, Northridge, with a B.A. in English, and an emphasis in writing. She writes on banking, investments, loans and the latest financial news on a local and national level. As a writer devoted to the interests of her readers, she strives to provide relevant stories, features and helpful tips that encourage smart financial habits.