Scrounge up cash with used gadgets
Date: 10/30/2008
Company: Second Rotation
Source: The Boston Globe
Last week, we looked at ways to save money during tough times by refurbishing old computers. Since then, unemployment claims have spiked, companies have announced thousands of layoffs, and consumer confidence fell to its lowest level on record. Still worried about money? I thought so.
Perhaps it’s time to bring in a little extra cash, by disposing of your unused devices. According to the Consumer Electronics Association, the average American household has two dozen such gadgets – such as TVs, DVD players, cameras, game consoles, and computers. And unless you take your meals intravenously, you don’t have time to use them all. Nearly all of us have an obsolete cellphone or iPod buried in a drawer, still in working order and worth a few bucks.
But how do you sell them? There are always Internet trading sites like eBay and Craigslist, but these can be costly and risky options for amateur traders. EBay requires a complicated sign-up process and charges transaction fees that will eat into your profits. Craigslist is free and simple, but provides no protection against scam artists who may try to pay with forged money orders or rubber checks. And you can’t be certain your stuff will sell, and at what price.
No wonder lots of people sell to dealers who pay cash up front, then resell the gadgets online. A couple of local Internet sites simplify the process. NextWorth Solutions Inc. in Lawrence operates www.nextworth.com, while Second Rotation Inc. of Boston runs www.gazelle.com. Both sites track the wholesale value of used devices. A visitor punches in a description of the product he’s looking to sell – say, a fourth-generation iPod with a 20-gigabyte hard drive and some scratches on the case. Up pops the price that NextWorth or Gazelle is willing to pay – a mere $27 at Gazelle, or a lavish $40.50 at NextWorth. Prices vary based on supply and demand. If you agree, the companies will send you a prepaid shipping container. Send in your item, and if it passes inspection, you get paid in about two weeks.
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