Turning a Profit with Old Tech: A Gold Mine?

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We live in a world punctuated by the ubiquitous presence of electronic gadgetry. From flat-screen televisions and smartphones to household appliances and everything in between, it seems as if our very existence is now determined by how we interact with these devices. However, the lifespans associated with modern electronics is surprisingly limited. Dial-up Internet has now been replaced by wireless connectivity. CRT televisions screens seem ancient when compared to OLED displays. Mobile phones with touch pads now appear as mere relics alongside their touchscreen counterparts. Can you capitalise upon this older technology? Let’s take a look at how outdated tech can quickly evolve into liquid profit.

The Used Smartphone Market: A Best-Kept Secret

Were you aware that the predicted value of the used mobile phone market in 2017 is no less than $17 billion dollars? As newer models such as the iPhone X are replacing the iPhone 7, consumers are looking for ways to enjoy the latest technological advancements without breaking the bank. This is the main reason why online portals such as Sellmymobile.com have become increasingly popular options for those who are looking to cash in on such popular units.

Still, even older brands such as the so-called indestructible Nokia 3310 are just as popular. Many consumers will use these phones as spares or when travelling to foreign locations. It only makes sense to tap into such a burgeoning industry.

More Than Smartphones Alone

Of course, the demand for phones such as the iPhone 7 is undeniable. This does not necessarily signify that other types of electronic equipment have fallen by the wayside. Did you know that many of the materials contained within a traditional CRT (cathode ray tube) television are highly prized within the modern marketplace? This has occurred for two reasons. First, it is more economical for companies to recycle precious substances as opposed to extract them from the ground. Secondly, more stringent environmental regulations have prohibited some of the manufacturing processes from the past. The end result is that electronic devices from the 1980s and the 1990s can fetch surprisingly high values on the open market. Collectors will likewise pay impressive fees for such units.

How to Begin the Process

You are likely eager to learn how you can become involved within such a sector. The first step is to appreciate what products tend to be the most popular. In terms of recycling, this popularity often involves the materials contained within their construction. Smartphones such as the iPhone 7 contain appreciable amounts of silver, gold and copper. Old desktop computers are equipped with rate-earth (neodymium) magnets within their hard drives. The same holds true for flat-screen televisions and your outdated laptop from 1998.

Once you have determined the devices that you are looking to sell, perform an online search in order to appreciate the value that others are willing to pay. This will provide you with a firm foundation when naming a price. Besides online portals that purchase the iPhone 7 and similar models, take a look at auction websites and even local boot sales. You will be amazed at what consumers are willing to pay for electronics that were thought of as completely useless.

The main takeaway point is that the demand for used electronics is higher now than ever before. Not only are consumers looking to save money, but even large manufacturers are capitalising upon the wealth of materials that these devices can offer. So, dust off that old laptop and polish your outdated mobile phone. Some much-needed cash could be closer thank you think!

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