How to get money for old mobile phones?

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June 13 2019
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Mobile phones and electronic gadgets and accessories are some of the few items that you simply can’t throw in the garbage when you’re done with them – mostly due to the chemical hazard they may pose if improperly discarded.

However, this doesn’t mean that they’ll be collecting dust in your closet forever.

If you have old electronic gadgets in your home that you will no longer use, consider exchanging your mobiles for cash.

Are old mobile phones worth anything?

Your old mobile phone may no longer suit your needs and have little value to your current lifestyle, but that doesn’t mean it’s completely devoid of value.

Mobiles and electronic gadgets still retain some of its value for as long as it is in good working condition or repairable – especially with models that were released in the past decade.

What if my phone is damaged?

Yes, you can still get money for your old mobile even if it is in need of repair. As long as there is a market for your old mobile, there are companies that will pay you for them.

You can usually get around $10 to $50 for old mobiles in good condition, but it can be to a few hundred dollars for more recent models. However, the actual amount that companies offer depends on your mobile’s condition and what they plan to do with the item. If the mobiles the company collects are for recycling, it’s best not to expect a payment.

There are also old mobiles that have reached antique status, which are valued at much higher prices. One example is the brick-sized Motorola DynaTAC 8000x, which can fetch up to $1,000.

Who buys old mobile phones?

As previously mentioned, some companies specialise in the purchase of old phones and electronic gadgets, such as tablets and music players.

These companies usually aim to resell the old mobiles where there is still a demand for them. For instance, once company may simply repair and sell them locally or they can ship them overseas to developing countries.

They may also take working parts from your mobile to fix another and vice versa so that at least one of the mobiles can be sold.

If you plan to use the money from the sale of your mobile to buy a new one, consider asking a customer service representative from the shop you intend to buy from if they have a trade-in program.

Some companies also accept trade-ins and simply award the seller with a credit equal to the amount of the old mobile phone’s value to be used for buying a new model from their shop. Doing so will decrease the total amount you would have to pay for your replacement mobile.

Explore Nest Egg for more smart ways to earn money.

About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

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