Turn Your Old Gadgets into Gold

Charlotte (WBTV) Do you have drawer in your house filled with old cell phones and other electronics?  Well now you can turn those gadget into gold if you know where to sell and how much to ask.

Varian Johnson was packing for a move when he came upon a drawer he'd forgotten all about. "You get it and you use it and you think you're going to sell it or do something with it or re purpose it and it kind of gets stuck at the bottom of the drawer and you forget about it," he said.  But don't forget, the sooner you unload the electronics the more money you'll make.

Michael Fridgen is CEO of Decide.com. "Even an iPhone that's up to 18 months old will get up to 50 percent of its original value."  Apple products tend to hold the most of their original value. A Blackberry Curve on the other hand would sell online for only about 75 dollars.  Old printers and fax machines don't usually sell for much.  But e-readers are retaining a lot of their value.

Go to selling sites like eBay or Amazon and check where your item ranks.  Or use web sites like Priceonomics.com and have the experts there analyze and calculate your items value. 

In addition to figuring out how much to ask for your old gadget, also decide on when is the best time to sell.  When a new version of a popular product is coming out, you'll want to beat that release.  It could mean the difference between making 50 dollars or hundreds of dollars. "If you sell your product before the new versions announced you can get considerably more money for it," said Michael Fridgen.   Web sites like Decide.com stay on top of the new release rumor mill and can help you decide when to sell.

If you aren't happy with the price consider donating.  In many cases you'll get a tax deduction and someone else will get to enjoy your old gadget.