Americans could be sitting on $33 billion of unused tech, report says

By Personal Finance FOXBusiness

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Do you have a junk drawer full of old cell phones, or maybe a few boxes of old CDs or DVDs laying around? Well, you’re not alone—and according to a new report, that outdated tech could be worth some serious cash.

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Tech buy-back site Decluttr.com found that the average U.S. household could be holding on to $264 worth of unwanted devices—resulting in over $33 billion worth of unused technology nationally.

“It’s crazy how much money we’re missing out on by not selling our old tech,” Liam Howley, CMO at Decluttr.com, said.

Overall, the study found that one-third of Americans didn’t even know trading-in old tech for cash was an option. On average, Americans are spending at least $531.43 on new technology every year, with 65% of them leaving their older devices in junk drawers around the house.

“The money people can make by selling old tech can be used to fund present shopping, especially with the holidays just around the corner, or can even be put into the savings pot for the New Year,” Howley told FOX Business.

However, 32% of those surveyed say they choose to keep their unused tech and cell phones because they want a back-up in case their current device breaks, while 29% say they’re nervous about personal information on old devices “getting into the wrong hands.”

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The biggest ticketed items that are sold on buy-back sites are cell phones, game consoles and tablets, with iPhones and Samsung devices being the most popular.

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Since the launch of the iPhone 8 and the iPhone X earlier this month, the iPhone 7 128gb is trading-in for $354 and the iPhone 6s 128gb at around $289, Decluttr.com said.

Here’s a current list of Decluttr.com trade-in prices for popular devices:

  • Xbox One - $115
  • PlayStation 4 - $150
  • iPhone 8 64gb - $402
  • iPhone 7 128gb - $354
  • iPhone 6s 128gb - $289
  • Samsung S8 - $290 
  • Samsung S8 Plus - $340
  • Nintendo Switch - $100
  • iPod Touch 6th Gen 64gb - $62
  • Kindle Fire HDX 16gb - $20
  • MacBook Pro Core i7 - $356.40

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