Do Your Due Diligence
Welcome to the world of selling your old stuff. Our first tip? Do your due diligence. Look on Craigslist, eBay and Amazon for sales of your gadget. Is it the iPhone 3 or last year’s Android? Become very familiar with the listings for phones, including auctions that were recently completed. From that, you should be able to see what the item sold at. Remember that for some gadgets, one site may have higher selling prices than the other. You basically need to look at items that are similar quality to yours and figure out a price range.
Another tip: try not to buy a product towards the end of its product cycle. For those of you who may not know what a product cycle is, think about the life cycle of a gadget before it gets updated. If you want to get a good return, try to buy the device toward the beginning of it’s run rather than the end. A quick Google search will tell you when the next Mac event is coming up – it’s likely that a new product will be announced there. So if you’re within a few months, just wait! Some product cycles, like for the Kindle, are more difficult to predict. Also,
Figuring out when a new product is coming out will help you decide when to sell an old one and when to hold on longer. For example, many laptops have new models several times per year. Upgrading makes more sense because you can sell it before the warranty expires – so you never have to deal with the frustration of a broken machine. But a nice digital SLR camera or a GPS unit may retain its value long after new models have come out. Hold on to some of those!