Save Money / Consumer News
'Gadget gold': Selling your old electronic gadgets
LOS ANGELES (KABC) -- From cellphones to DVD players, e-readers to video game systems, those old electronics could be worth big bucks if you know what to charge and when to sell. Here's how to find out all you need with just a click of the mouse.
Experts say it's time to dig up all your old gadgets, because those old, outdated electronics could easily be turned into "gadget gold."
"There's never been a better time to get top dollar for your electronics," said Michael Fridgen, CEO of Decide.com.
Of course some products have more resale value than others. Experts say smartphones, tablets and laptop computers are all great for resale, with Apple products holding the most value.
"Even an iPhone that's up to 18 months old will get up to 50 percent of its original value," said Fridgen.
For example, an old BlackBerry Curve is worth $75. A used Nintendo Wii could fetch $150. A first-generation iPad is still worth around $300.
Although old printers or fax machines don't usually sell for much, experts say older model e-readers can retain much of their value.
"They tend to work for very, very long time. When next year's e-reader comes out, it doesn't stop your old e-reader from being able to read a book," said Michael Flaxman, CEO and co-founder of Priceonomics.com.
So how do you know what an item is worth? You can try searching Craigslist, EBay or Amazon to start. Or try a new site, Priceonomics.com, which analyzes thousands of deals each day to calculate current values.
"We've indexed hundreds of millions of posts. Absolutely anything that you might buy on EBay, Craigslist or offline in the real world, we know what it's worth," said Flaxman.
In addition to knowing what to sell, you'll want to consider when to sell.
"If you sell your product before the new version's announced, you can get considerably more money for it," said Fridgen.
Websites like Decide.com stay on top of the new-release rumors and can help you decide whether to sell or hold.
"Prices are changing at a very fast rate," said Fridgen. "We see on a given day 20 percent of products are seeing a price change."
If you see that the price is too low to make it worth your while to sell the item, then consider donating it. You'll get it out of the house and probably earn a tax deduction too.
technology, save money / consumer news, ric romero
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