How to make money selling your old tech

If you have old phones lying around in your drawers, now is the time to turn them into cold hard cash.

Your old mobile phones could be worth good money, and with Christmas approaching there is no better time to get rid of your old gadgets.

TODAY spoke with tech expert Trevor Long to explain how you could cash in.

TODAY: Trev, what sort of things have we got that could be worth something?

LONG: Almost all tech has a value beyond its basic use for everyday Australians.  We have old laptops, tablets, phones and more sitting around in cupboards and drawers at home because we think we might need them again. They could in fact they could make us some cash. If it still works, It has value.

TODAY: Just how much is an old mobile phone worth?

TODAY: Depends on a whole range of factors.  Does it still work? What condition is it in?  Have you got any of the original packaging? A phone that’s just a few years old, like most people have after they finish a mobile contract, could be worth well over $500, and if it’s in good condition that could be $700.

Something that’s a touch older will diminish over time of course, but many people have a four or five-year-old phone and could easily make $150-$200 of that.

TODAY: But how do we find out what something is worth?

TODAY: Our biggest online marketplaces, eBay and Gumtree, both have online price guides which can help you enter the brand, model, age and condition of your device and find out what it’s selling for at the moment. Gumtree call this the ‘Second Hand Economy’ and they see huge amounts of traffic to their tech sections as a result.

TODAY: What are your tips for getting the most from your unwanted gadgets?

TODAY: Firstly, think about it from day one of your gadget purchase.  Keep the box, keep the cables, put the device, particularly phones, in a case and with a screen protector. That adds HUGE value at resale time.

When selling, take LOADS of great photos and be honest about the nicks and scratches it might have, honest listings lead to faster sales.

Interview and additional text by Luke Worthington.

* In highlighting particular offers we are not making specific recommendations as this article does not cover all available products and may not compare all features relevant to you. Any advice provided is general in nature and does not take account of your needs, objectives or financial situation. Individuals should consider their own circumstances, and if in doubt seek appropriate advice, before proceeding.