Sell old electronics for cash

(Saving with 6abc - Amy Buckman)

March 25, 2013 4:37:16 AM PDT
Manufacturers rarely offer money-saving deals when new electronic gadgets come out. But if you have older models gathering dust in a drawer, you may be able to get cash to put towards an upgrade.

That's when it pays -- literally -- to check out

Nik Raman, Usell's co-founder and C.O.O., explains, " is basically a platrform where users can log on and find cash offers for their old smartphones and handheld electronics."

The site doesn't buy old phones, tablets or mp3 players, but it links consumers up with people who do.

Raman says, "You can think of us as the Kayak of cash-for-gadget, or cash-for-cell-phone sites. We basically have aggregated a bunch of trusted professional buyers that we vet and then we place them on the site, and have them bid for your phone. They basically compete with cash offers to get your old electronics."

Apple products are the site's most popular. We got an offer of $85 for an 8-GB iPhone Four. But Samsung phones also sell well. And the items don't have to be in mint condition.

"On our site, we basically ask you to specify between three conditions, perfect, which not many phones are, good/used, which is the marjority of phones and also damaged," Raman explains. "So, there are markets for damaged phones. A lot of our buyers specialize only in damgaed phones. So the good thing about Usell is that you will find an offer for yor phone as long as it has value. For instance, a damaged iPhone, you can still fetch $50-$100 for it, depending on the model."

Once you choose an offer, you print out a shipping label, and mail your device to the buyer. Within five days after the buyer gets it, you should get your money.

Raman recommends that seller wipe the memories clean on the devices they're selling, but adds that all the buyers on the site have a policy of "cleaning" the electronics' memories once they're received.

To see what kind of offers you might get for your old electronic devices, click here.