It is hard to imagine a person without a smartphone or a computer nowadays. Furthermore, we tend to acquire the latest upgrades rather frequently. And here comes the question: what to do with all these older electronics you no longer use? Well, if your devices are not that old, they are likely still worth something on the recommerce market. So, you could easily sell your used tech for some spare cash.
This post will explore how to sell used tech on your own vs. using a buyback site. We will also talk about the pros and cons of each option in more detail below.
Sell Used Tech On Your Own
As you would expect, selling used tech can be a time-consuming endeavor. But usually, if all goes well, your efforts will be rewarded with a handsome payout. Here, possibilities are nearly endless. For example, you can auction your preowned technology or post it for sale at a fixed price. Some marketplaces are local, limited to a certain area, while others enable you to sell nationwide. Some are free, and some will charge you a selling fee.
Online marketplaces, like eBay, have an obvious advantage. You can sell pretty much anything here: used (or even broken) laptops, smartphones, photo equipment, TVs, etc. But most importantly, you can connect with potential buyers all over the US and even abroad. Some of the most popular online marketplaces are eBay, Facebook Marketplace, and OfferUp.
On eBay, you can set a price, accept offers from interested parties, or you can auction your tech. But regardless of how you list your electronics, eBay will charge you at least a 12.55% portion of the sale plus $0.30 per order. In addition, you will likely have to sign up for an eBay store, which is a fixed monthly subscription fee. Really not ideal for one-time and infrequent tech resellers. And Craigslist has zero fees but comes with certain risks. And you’d need to spend time to meet up with potential buyers in person.
OfferUp, on the other hand, has a security authentication system through Facebook. And it is very convenient to get paid directly through the app. But sellers also pay fees here: a minimum of $1.99 or 12.9% of the sale. And if your sold tech has to be shipped, you are likely going to be the one to cover the postage cost.
Sell Used Tech Through a BuyBack Site
This is the most hassle-free solution for reselling unwanted technology. A buyback platform lets you receive an offer almost instantly. And if you like the price, you can checkout online immediately. No listings to create, no photos to take. Most sites will even pay for shipping. The only time you would have to leave your house is to drop the package at the nearest carrier location.
Overall, a buyback service guarantees a quick sale and fast payouts. Your total payout will likely be a little less than if you were to sell the gadget on your own, but you will get paid much faster.
How Do I Get Paid?
Once the used tech you are selling reaches the destination, a buyback company will inspect it to make sure the information you provided during checkout matches its actual condition. And if all checks out, then they will process the payment. The transaction usually gets completed within one to two business days of receiving your package.
The most frequently used payment methods here are PayPal, Venmo, and Zelle. Sellers love those because they are instant. But you can always request a check sent through snail mail (i.e., USPS).
What Is The Value Of Your Used Tech?
It can be challenging to appraise a used gadget nowadays. Some vintage devices are being sold for insane amounts of money, while other relatively new models are being resold for close to nothing. But used tech like PC laptops, Macbooks, iPhones, Samsung Galaxy phones, iPads, and other tablet brands are usually in demand.
To give readers a general idea about the resale value of the most popular technology, we offer a few pricing examples:
- An unlocked Apple iPhone 11 Pro Max 256GB can yield up to a $419 cash offer.*
- Used Canon EOS 7D Mark II 20.2 MP camera can go for about $155.*
- Microsoft Surface Laptop 3 13.5-inch with Intel Core i7 processor and 512GB storage gets you up to a $484 cash offer.*
- Samsung Galaxy Tab tablets tend to depreciate especially fast. But a used Galaxy Tab S5e 10.5-in 128GB is still worth up to $106 online.*
We should note that all online estimates are prior offers, calculated based on the information the seller provides. And if it so happens that the device is misrepresented (be it a wrong model, incorrect description, missing accessories, etc.), the seller should expect a price adjustment. The good news is, if you do not like the new offer, you can always have the device returned to you, and usually for free.
Bottom Line
Selling your used technology on marketplaces usually yields the highest returns. But with third-party reseller sites, the least amount of effort is required from the seller. Not to mention, it is uber convenient. So, if you are a busy professional, who owns a bunch of unwanted tech, we at Gadget Salvation might have a hassle-free solution for you. Visit our site to see how much your preowned tech is worth today.
*Priced on 10/25/2021. Subject to change.
