• Home
No Result
View All Result
Money Monarch
  • Make Money
  • Money Management
  • Banking
  • Investing
  • Lifestyle
  • Real Estate
Money Monarch
  • Make Money
    • All
    • Make Money Apps
    • Make Money Online
    • Side Hustles
    • Work From Home
    68 Ways To Make Money Quickly In Multiple Sectors During 2020

    68 Ways To Make Money Quickly In Multiple Sectors During 2020

    23 Ideas For Kids And Teenagers To Make Money

    23 Ideas For Kids And Teenagers To Make Money

    I need money now

    23 Ways To Make Quick Cash When You Need Money Now

    make money driving for uber

    How To Make Extra Money Driving For Uber

    online jobs for teens

    13 Best Online Jobs For Teens To Make Real Money

    8 Places To Get Paid To Test Websites From Your Home Couch

    8 Places To Get Paid To Test Websites From Your Home Couch

    stay at home mother

    9 Best Stay At Home Mom Jobs To See Your Kids

    hobbies that make money

    16 Hobbies That Make You Money To Start Today

    create passive income with no money

    How to Create Passive Income With Zero Money

  • Banking
    • All
    • Certificates of Deposits
    • Checking Accounts
    • Savings Accounts
    Meet Credit Karma Savings – A New High Yield Savings Account With Even More Perks

    Meet Credit Karma Savings – A New High Yield Savings Account With Even More Perks

    woman writing about a money order

    How To Fill Out A Money Order Step by Step

    checkbook for checking account

    What Is A Checking Account?

    piggy bank savings account

    What Is A Savings Account And When Should You Use One?

    cd ladder money

    What Is A CD Ladder – Should You Get One?

    switch bank meeting

    How To Switch Banks Without Missing Any Payments

    what is direct deposit

    Direct Deposit – What Is It?

    Radius bank high yield account

    Radius Bank High Yield Savings Account Review: What You Should Know

    Checking Accounts Versus Savings Accounts: Similarities And Differences

    Checking Accounts Versus Savings Accounts: Similarities And Differences

  • Investing
    What Is A Bear Market?

    What Is A Bear Market?

    Stash App Review – What You Must Know Before Investing

    Stash App Review – What You Must Know Before Investing

    stock gift

    How to Give Kids A Share Of Stock (Christmas Gifts Or Other Holidays)

    Titan invest banner

    Titan Invest Review – Algorithm Investing Like A Hedge Fund

    thinking about betterment

    Betterment Review: Safe Investing With Robo Advisors?

    best short term investments

    8 Best Short Term Investments To Grow Your Money

    happy acorns review

    Acorns Review – Investing Spare Change With An App

    fundrise review apartment buildings

    Fundrise Review: Real Estate Crowdfunding Made Simple

    M1 Finance Review – The Greatest Way To Invest With “Pies”

    M1 Finance Review – The Greatest Way To Invest With “Pies”

  • Money Management
    68 Ways To Make Money Quickly In Multiple Sectors During 2020

    68 Ways To Make Money Quickly In Multiple Sectors During 2020

    Earny Review: The App That Monitors Price Matching And Price Drops

    Earny Review: The App That Monitors Price Matching And Price Drops

    What Is A Bear Market?

    What Is A Bear Market?

    12 Best Coupon Websites To Save The Most Money

    12 Best Coupon Websites To Save The Most Money

    Groupon Review – Online Discounts Without Clipping Coupons

    Groupon Review – Online Discounts Without Clipping Coupons

    filling up discounted gas

    16 Best Ways To Get Free Gas Cards and Discounted Gas

    how to get out of debt guide

    How to Get Out of Debt (Step By Step Guide 2020)

    Charlie Review – Text Message Budgeting Assistant

    Charlie Review – Text Message Budgeting Assistant

    on phone getting a personal loan

    How To Get A Personal Loan (Where To Look To Find One)

  • Real Estate
    buildium review

    Buildium Review – Is It Worth The Money?

    best property management software

    The Best Property Management Software (Ultimate Guide)

    13 Steps To Buy A House For The First Time

    13 Steps To Buy A House For The First Time

    3 Ways To Make 50K A Year Without Working (Using Passive Income)

    3 Ways To Make 50K A Year Without Working (Using Passive Income)

    how renters can save a house down payment

    7 Ways For Renters To Save For A Down Payment

    7 Ways For Renters To Save A Down Payment For A House

    7 Ways For Renters To Save A Down Payment For A House

No Result
View All Result
Money Monarch
No Result
View All Result
Home Make Money

6 Best Marketplaces To Sell Electronics For Cash

Money Monarch by Money Monarch
December 18, 2019
in Make Money
0
This article may contain references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.
0
SHARES
88
VIEWS
Share on FacebookShare on Twitter

Spring is right around the corner, which means it’s time to do some spring cleaning!

Once you start digging through your drawers and cabinets, you’re bound to uncover a lot of old electronics.

It might be tempting to fill a few garbage bags with all those gadgets, throw them away, and forget about them.

Before you reflexively toss them in the trash, however, consider the amount of money you could make from your “junk” electronics.

There are 6 great locations online where you can sell your electronics for some extra cash:

  1. eBay
  2. Nextworth
  3. Decluttr
  4. Gazelle
  5. Facebook Marketplace
  6. Craigslist

Each one of them functions differently from the other, leaving you to choose whichever one best fits your wants and your lifestyle.

After reading this, you’ll know plenty of ways to make some extra money simply for getting rid of your old electronics.

eBay’s Strengths

If you haven’t heard of eBay, then you’ve probably been living under a rock.

Founded in 1995, it’s one of the largest e-commerce companies in the world.

It holds this title for good reason.

Audience

As I previously mentioned, eBay is absolutely massive. It reaches hundreds of millions of viewers every year. An untold amount of transactions happen on eBay.

If you have something to sell, then someone on eBay wants to buy it. Trust me, when we say anything will sell on this on the eBay platform.

Multiple Selling Methods

To give you as much choice as possible, eBay provides multiple ways to get the most money out of your old electronics.

The simplest selling method they offer is a fixed price. You have complete control over what you want your electronics to sell for.

However, it’s usually difficult to find the highest price you can sell something for. You don’t want to miss out on any money, but you also want to actually sell your old stuff.

Fortunately for you, eBay has other methods that help you get more money for your stuff.

The first of these is an auction. You determine the starting price of your electronics and how long you’d like the auction to be, then let the market do the rest.

Interested buyers on eBay will bid for your items throughout the duration of your auction period. Once your auction period ends, your items will be sold to the highest bidder.

Nowadays, auctions aren’t as great on eBay. They’re most effective if you manage to dig up something rare or of considerable value. If you’re only trying to get rid of an old iPhone 4, you won’t get too much attention.

eBay’s last selling method is a “classifieds” type of deal. Listing an item through eBay Classifieds brings together the best of fixed-price and auction. Here’s how:

  • You set starting price of item(s)
  • Interested buyer reaches out to you
  • Both of you finalize transaction details outside of eBay

As you can see, this process leaves some room for negotiation. Perhaps you’re desperate to get rid of your electronics, but the buyer won’t pay your price. You guys get to negotiate until you both agree on a price, then you can sell it to them.

eBay’s Main Weakness: Fees

Buyer’s don’t have to pay anything beyond the listed price and shipping.

On the other hand, sellers have a few fees they must pay if they want to sell things on eBay.

eBay has two main types of seller fees:

  1. Insertion fees
  2. Final value fees

Insertion Fees

Insertion fees are charged every time you list a new item or relist an old item. They are also charged per category; this means if you list an item in two separate categories, you have to pay the corresponding insertion fees for each category.

Luckily, eBay gives you some free listings every month. They call these “Zero insertion fee listings”.

Since you’re just looking to clean out some old electronics, you probably won’t reach 50 listings in a month; don’t worry too much about insertion fees unless you’re running a business on eBay.

Final Value Fees

As for final value fees, these are charged when you actually sell your item or when eBay determines that you’re going to sell it outside of eBay.

Final value fees are charged as a percentage of the sale amount, so you’ll pay a bit more money to sell your electronics if they’re worth a lot. Also, unlike insertion fees, final value fees occur on every sale.

Oh, and if the product is not as described or doesn’t work, you might get charged even more final values fees.

On eBay’s help pages, you can find more information about their fee structure.

Nextworth’s Strengths

Nextworth isn’t as well known as some other sites on this list, but don’t count it out! Here’s why.

Speed, Speed, Speed

Over at Nextworth, everything is about speed.

For one, getting a quote is ridiculously fast. All you need to do is give Nextworth some basic information about the devices you’d like to sell (such as type of device, brand, model, and some questions about the device’s condition) and they’ll quote a price.

Another process at Nextworth that’s reasonably quick is their payment.

Once you ship off your old electronics, Nextworth has to inspect the devices, wipe your data, and recondition them for sale. After the initial inspection, Nextworth sends you payment via check or PayPal.

They claim that most customer receive their payments within a week after the device arrives at their facilities. Not too bad!

Transparency

Nextworth prides themselves on transparency, and they do a few things to uphold that reputation.

For one, they have no hidden fees. You won’t be surprised by a bunch of charges at the last second when you’re selling your old devices. What they quote is what you get (barring any outright lies about the condition of your items).

Another thing they do is lay out their inspection process in their FAQs. You’ll know exactly what they do when your old stuff arrives at their facilities.

You can rest assured that whatever personal data remains on your device will be secure until they wipe it clean.

Speaking of FAQs, there is a ton of other great info on that page that contributes to more transparency.

Got a question about preparing your items for shipment?

Unsure how to deactivate “find my iPhone” type functions on your old devices?

Or maybe you just aren’t sure why you should trust Nextworth?

In an effort to be as transparent as possible, they answer all those questions and more on their FAQs page.

Nextworth’s Weaknesses

Nextworth doesn’t have any large fees to worry about, but there are some other areas that they fall short in.

Products They Accept

Some people are looking to sell old electronics that aren’t necessarily old iPhones or iPads.

Unfortunately, Nextworth is quite limited in the types of items they’ll buy from you.

In fact, if you go to the FAQs page again, you’ll see that they only accept three types of devices:

  • Smartphones
  • Tablets
  • Wearables (like an Apple Watch)

Things like old TVs, computer monitors, external hard drives, and other computer peripherals are off-limits when selling to Nextworth.

This is bad news as you probably have more to sell than just your old iPhone or Samsung.

The Price

As with most things, convenience comes at the expense of price.

You don’t get to choose how much your devices sell for; that’s up to Nextworth. They generally are pretty fair about their quotes and honor them as much as possible, but since they decide, you might get a lower price than on a site such as eBay.

This shouldn’t affect your decision too much as you’re simply getting rid of old electronics you don’t use anymore, but always browse around and try to find the best bang for your old stuff.

Decluttr’s Strengths

Decluttr is similar to Nextworth in that they buy your old stuff, but there are a few areas where Decluttr shines.

Expanded “Inventory”

Nextworth only accepts a narrow range of products, making it hard to offload your old electronics if you have anything that’s not a phone, tablet, or wearable.

On the other hand, Decluttr has an expanded “inventory” that contains other devices and media. Some of these additional items include

  • CDs
  • DVDs
  • Video games

I bet you have a lot of ancient CDs and DVDs you no longer want due to the proliferation of streaming services and other modern technology.

But how do you find these additional items?

Decluttr has a great solution for that.

If you’re looking to sell an item that isn’t a smartphone, tablet, or wearable, all you have to do is enter the barcode number into their system and it’ll find it for you.

All of a sudden, it’s quite easy to clean out your CD/DVD shelves and pocket some extra money!

Oh, they also sell books if you happen upon some old, unwanted tomes when gathering up your old electronics.

Mobile App

To make your selling experience even more pleasant and convenient, Decluttr created a mobile app.

On said mobile app, you can scan barcodes and instantly add items to your selling list. Decluttr streamlined and simplified valuation and sale of your goods as well so that you can get your money quickly.

Price Promise

With most other services that allow you to sell old electronics, Decluttr won’t automatically lower your price if they find a discrepancy between the product and your description of the product.

Instead, they’ll shoot you an email with a new price based on their evaluation. If you’re happy with the price, you can confirm that you’d like to sell it at that amount. Otherwise, they’ll ship it right back to you at no extra cost.

Decluttr understands that you want to get the best possible price for your old stuff, so they go out of their way to help you achieve that goal whenever possible.

Decluttr’s Weaknesses

Decluttr doesn’t have any crippling flaws that would exclude particular sellers. The only thing to look out for is low offers, especially if your item is of particular rarity and/or value.

That price promise will save you in case of an offer that’s nowhere near what your item is worth, but at the price of some wasted time.

Gazelle’s Strengths

Gazelle is one of the better known sites for unloading your old electronics and banking some extra cash. Using Gazelle comes with many advantages.

The Inspection Process

One of Gazelle’s biggest selling points is their comprehensive inspection process, which they call a “30+ point inspection process”.

Over many years of buying old devices and restoring them for resale, they’ve developed a rigorous system of inspection in order to determine the value of used products and to protect any sensitive data that may remain on your device after you’ve sent it to them.

It’s so rigorous that they hire tech-savvy professionals to inspect each and every device by hand. These professional use software that is approved by the Department of Defense (yes, that’s how strict they are about customer data) to destroy all your personal data in a secure environment.

No need to worry about your personal data falling into the wrong hands.

Gazelle’s Downsides

Similar to other sites on here, Gazelle doesn’t have any glaring flaws.

Still, look out for lowball offers. You have plenty of options in terms of sites that will buy your old electronics from you, so feel free to shop around for the best offer!

Also, despite their strict inspection process, you should still take precautions to eliminate any of your personal data from your devices. Even the greatest systems aren’t perfect.

Facebook Marketplace’s Strengths

Everyone uses Facebook.

Well, almost everyone.

Although mainly a social medium, Facebook introduced a Marketplace feature a few years ago in an effort to improve the platform.

Let’s look at some strengths of Facebook’s Marketplace.

Again, The Reach

Similar to eBay, everyone’s heard of Facebook.

You can advertise your old electronics to millions of other Facebook users through the Facebook Marketplace.

In fact, according to Facebook, over 450 million people use Facebook groups to buy and sell items every day!

With a reach like that, your trash could very quickly become a happy buyer’s treasure.

Simplicity and Seamlessness

While most other sites require you to jump through some hoops in order to start selling, Facebook makes it very easy.

First of all, creating your listing on Facebook is extremely easy. All you need to do is snap a few pictures of your electronics, import them to your Marketplace post, write a short description, set a price, then post your listing.

Within minutes, your listing could reach thousands (if not millions) of users!

Second, buyers have the ability to search for keywords in the Facebook search bar, similar to an E-Commerce store. Once they locate your product, all they have to do is send you a Facebook Messenger chat if they’re interested.

Play your cards right, and you could be ditching that old iPod for some cash by the end of the day.

Safety (In Comparison To Similar Sites)

Since Facebook is a social medium, you need to have a relatively complete profile to take full advantage of what the platform has to offer.

This makes Facebook’s Marketplace a safer option than Craigslist (which we’ll talk about in a minute).

Facebook Marketplace’s Downsides

Facebook is free, which means the marketplace is free.

But with more flexibility for selling your old stuff comes additional concerns.

Safety (In General)

Yes, Facebook is safer than Craigslist. However, you still have to meet face-to-face with a stranger in order to make a sale.

To stay safe when selling stuff on Facebook, take precautions such as the following:

  • Stay local – Local buyers are more likely to be legitimate buyers than someone who wants you to ship something 1,000 miles.
  • View the buyer’s Facebook profile – Gather some basic information about the buyer. You want to make sure they’ve been on Facebook for a while, have a normal looking profile, and don’t have duplicate profiles (this could be a red flag). If they have mutual friends with you, that’s a plus since they’re more likely to be a real person AND know your friends.
  • Meet the buyer in a public place – We highly recommend that you DON’T visit a buyers house nor do you let them come to your house for obvious reasons. Meet in a public place to minimize risk.
  • Buddy system – If you don’t feel comfortable meeting alone with a stranger to sell your old stuff, bring a friend. There’s no harm in doing so, and any decent buyer not looking to mug you will completely understand (and they might bring a friend themselves!)

YOU Close The Sale

Gazelle, Nextworth, and Decluttr do all the work for you since they’re the ones buying your items.

But Facebook Marketplace exists solely as a platform to facilitate exchanges between Facebook users.

It’s up to you to find buyers, negotiate everything, and close the sale.

Now this is all well and good if you have the time; however, if you live a busy lifestyle, one of the aforementioned sites that buys and resells your devices may be a better option.

However, with added convenience comes subtracted profit, and vice-versa.

Craigslist’s Strengths

Last on our list of sites to sell your electronics is the infamous Craigslist.

Known for everything under the sun – from roomates/romantic partners to household items, Craigslist is a great place for you to cash out on electronics you no longer use.

(Free)dom

Listing items on Craigslist is absolutely free. You can make as many listings as you want, or you can combine them all into one bulk listing for more search hits on said listing!

Selling your old stuff has never been cheaper or easier.

The Minimalist Design

Craigslist is known for having an extremely simple design.

It’s so simple, it’s almost unattractive to look at. However, this good for you because you won’t be distracted by a million other features on Craigslist.

No flashy, laggy web design or wild arrays of annoying features. Just good old selling your junk for money.

Craigslist’s Downsides

Craigslist is like an anonymous version of the Facebook Marketplace. Such anonymity brings about obvious concerns with selling on Craigslist.

Safety Concerns

I’m sure you’ve heard many horror stories about Craigslist meet-ups gone wrong. They make sense since Craigslist is very informal and anonymous.

While those are a total possibility, they are relatively easy to avoid by taking the same basic safety precautions as the Facebook Marketplace.

And if you still feel unsafe using Craigslist, you can always use Facebook!

Convert Your Unused Electronic Gadgets Into Cold, Hard Cash

As you can see, you have a plethora of options for selling your old electronics.

Whether you live a busy lifestyle and just want to pocket something for your junk electronics, or you have lots of time to clean your house out, there’s a site out there that will help you offload things you no longer use.

Plus, you can feel good about yourself when you opt to sell your old phone, tablet, or DVD because you’re helping to save the planet (and getting paid to do so)!

Most of the sites that buy your phones back from you will recycle your old electronics to reduce pollution and use the parts in other ways.

And when you sell your stuff to a private buyer using Facebook or Craigslist, the device is avoiding the landfill and providing utility to someone.

Perhaps one day, the person who bought your old phone will sell it to a site that’ll recycle it too.

So don’t throw away your electronics; sell them instead.

Not only are you being green, but you’re also getting some green in the process!

Previous Post

Chime Bank Review: Checking and Savings Fee-Free Banking

Next Post

APR vs. APY Interest Rates (What’s The Difference?)

Money Monarch

Money Monarch

Money Monarch is a team that is in love with personal finance. We are on a mission to help you make the crucial decisions that will outline your financial future.

Next Post
APR vs. APY Interest Rates (What’s The Difference?)

APR vs. APY Interest Rates (What’s The Difference?)

How to Get Free Internet Access Legitimately

How to Get Free Internet Access Legitimately

10 Best Personal Finance Books to Read in 2020

10 Best Personal Finance Books to Read in 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Money Monarch

  • 8 Followers

Popular Post

  • donating plasma doctor visit

    How Much is My Plasma Worth? Ultimate Guide to Selling Plasma for Money

    0 shares
    Share 0 Tweet 0
  • The Ultimate List of Blog Income Reports (100 Bloggers to Follow)

    11 shares
    Share 0 Tweet 0
  • 16 Places To Get Free Furniture For Your Home Or Apartment

    0 shares
    Share 0 Tweet 0
  • 16 Places To Sell Used Furniture For Cash

    0 shares
    Share 0 Tweet 0
  • 3 Ways To Make 50K A Year Without Working (Using Passive Income)

    0 shares
    Share 0 Tweet 0

Follow Our Page

Follow Us

  • Looking for freedom from your job? Want to work from anywhere in the world? Learn how you can earn a full-time income by getting paid to write - even start your own blog! #blogger #blogging #paidtowrite #sidehustle #entrepreneur #entrepreneurlife #makemoneyonline #quityourjob
  • Want to make your money work for you? We
  • Are you a single parent of working hard to support your whole family? We
  • Trying to pay off never ending student loans or high interest credit cards? Let us help! This article explains how to track expenses and earn extra income to help you achieve financial freedom! #studentloans #creditcarddebt #financialfreedom #finance #sidehustle
  • Your health is important! Get rewarded for eating right and working out - win up to $10,000!  #weightloss #fitness #healthylifestyle
Facebook Twitter Youtube Pinterest Instagram

Money Monarch is here to help you save and make more money at home while at the same time helping you get your finances right

Pages

  • Privacy Policy
  • Terms of Use
  • Contact Us
  • About Us

Recent Articles

3 Ways To Get A Free CarFax Report When Buying A Car

3 Ways To Get A Free CarFax Report When Buying A Car

June 17, 2020
Meet Credit Karma Savings – A New High Yield Savings Account With Even More Perks

Meet Credit Karma Savings – A New High Yield Savings Account With Even More Perks

June 17, 2020

© 2022 MoneyMonarch.com

No Result
View All Result
  • Make Money
  • Banking
  • Investing
  • Money Management
  • Real Estate

© 2022 MoneyMonarch.com