How you can cash in your old gadgets for cash

Strapped for cash? If you’re one of the millions of people with a stash of gadgets they never use, why not trade them in?

According to Asda, the numbers of unused gadgets in our homes is worth billions and includes 11 million cameras, 9 million desktop ­computers, 5.5 million laptops, more than a million sat navs and 12 million games consoles.

The trade-in value of mobile phones alone is estimated to be a whopping £700million.
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Phil Stout of Asda, which has become the latest big name to launch an electronics trade-in service,said: “We reckon the ­average home has hundreds of pounds worth of old gadgets that could be traded in for money.

“There are more mobile phones in the UK than people so there is a lot of cash out there waiting to be released.”

Most gadget trade-in services give you a valuation online. If you are happy with it, the site will send a freepost bag which you put the item in to post back. The cash will be paid into your bank account or you’ll be sent a cheque or vouchers.

You will soon be able to pick up envelopes for Asda’s trade-in ­service at their stores.

At the ­moment it can only be used for mobile phones, sat navs, digital cameras, MP3 players and portable games consoles. But from Wednesday you will also be able trade in ­laptops, tablet computers and games consoles.

Some mobile models which are in demand could make as much as £150, so it is well worth selling them on. Trade-in site Mazuma Mobile, for example, says it has paid out more than £100million in the UK since 2007 and has ­recently started accepting tablet computers as well as mobile phones.

Asda claims that it will not be beaten on price by rivals Mazuma, Envirofone, Tesco, Sainsbury’s and Boots or it will give you the ­difference back. But as there are many other companies which you can sell gadgets to, it is still worth doing plenty of research.

Prices will vary considerably depending on the make, model and condition of your items. As a ­general rule, cameras will be bought for about £20 or £30 and games consoles about £40.

Remember that for some items, particularly satnavs and games consoles, there is not yet much competition among providers as only a few offer to trade them in.

In those cases you might be better off selling your item through an auction site such as eBay.

Case Study

‘Selling mobiles was a good call’

Self-confessed gadget junkie James Vertigan, top, has traded in two old mobile phones to get cash to put towards a better model.

James, 26, who works for a media research company, said: “I’d heard good things about ­Mazuma Mobile so I sold two of my old phones which I no longer used, a Nokia and a Sony ­Ericsson.”

James got about £20 for each phone which he put towards getting himself an iPhone.

He said: “I sent the phones by special delivery and received a cheque really quickly. You can also choose to get Argos vouchers instead if you want to.

“I’m sure I’ve got cameras lying round too. If I dig them out I’ll definitely consider trading those in for cash too.”

James, from Acton, West London, considered selling the phones on an auction website but found Mazuma Mobile more convenient.

He said: “If I’d sold the phones on eBay I would have had to dig out all the accessories to get the best price, but with Mazuma I could just send off the handset. It was definitely the most ­straightforward way to sell them.”

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