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Buyback Your Gadgets

The economy may be mired in crisis, but that hasn’t stopped the world from getting the new iPhone. People always seem eager to empty their wallets to catch the latest technology, whether it be for a smaller laptop or a better mp3 player.

But here’s a conundrum: technology evolves quickly, so what do you do with gadgets that rapidly age into obsolescence? In the latest issue of PC Magazine (currently not online), Heather Eng writes about “Turning Old Gadgets into Cash.” About $5.8 million worth of consumer electronics were sold on eBay in the first quarter of this year, according to Eng. But many people simply put their old gadgets to the side once they get new ones.

That’s foolish, because even old gadgets can make you money. TechForward Inc. is a company that has a Guaranteed Buyback program which allows consumers to trade in anything from computers to mp3 players, and much more, for a fixed rate. About 70 percent of their users return their gadgets for buyback dollars which can be used for other purchases at retailers who participate in the TechForward program.

EcoNEW is another company that started a similar type of buyback program this year. For this program, you register your newly purchased item with a participating retailer and EcoNEW will provide a guaranteed buyback value for the item over a set period of time. Like TechForward, the buyback program provides store credit that can be used at participating retailers.

So if you’re planning on replacing your current electronic devices within the next year or two, it might be a smart idea to try out a buyback program. After all, another new and exciting gadget is coming out everyday and in this economy, a few extra bucks can come in handy.

– Jenn Tse

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