Fans of weekend garage sales, those on the hunt for hidden treasures, or simply those with a keen lifestyle for 'reduce, reuse, recycle', get ready!

Remember those old electronic gadgets you have collecting dust somewhere in the storeroom or attic? It turns out they may be worth more than just sentimental value.

A recent survey revealed that Aussies might be sitting atop a veritable gold mine in the form of unused smart devices.

The analysis estimates this could tally up to an astronomical figure of $5.7 billion in undiscovered assets, and potentially a welcomed surprise, given the increasing cost of living.

Old devices like smartphones and laptops can still find value in the market when sold wisely. Image by eirikso from unsplash

Believe it or not, the average person harbours about 1.5 unused smart devices hidden away in the corners of their homes, each worth roughly $186, according to a survey conducted by Pure Profile for phone company OPPO.

If you're about to shake your head thinking, 'I don't have that many old devices,' take a moment to reconsider.

While you may consider yourself frugal and mindful of your possessions, it's likely that you have at least one old smartphone, vintage computer, or outdated iPod tucked away somewhere in your home.

A closer look at a survey revealed that a significant portion of the population, about one-third, possesses three or more old phones, significantly increasing the potential value of their collection.

Even if your old device is outdated by today's standards, there may still be a market for it among collectors or individuals seeking budget-friendly options, making it worth exploring selling opportunities. Image by slightly_different from pixabay

If you happen to fall into the category of individuals with a penchant for collecting vintage technology, your stockpile could potentially be worth a considerable sum.

The recent Anglicare Australia's Living Costs Index sheds light on the challenging financial circumstances faced by many individuals and families.

The report highlights that full-time workers earning the minimum wage are left with only $57 after covering their essential weekly expenses.

Families of four in the same wage bracket have just $73 remaining, while single parents working on the minimum wage face a shortfall of approximately $180 per week.

These findings serve as a reminder of the financial strain experienced by a significant portion of our fellow Australians. It emphasises the necessity, rather than luxury, of having spare cash to meet basic living requirements.

So, looking at these numbers, resurrecting and cashing in on those old smartphones or tablets you've previously considered obsolete could be a lifesaver.

Utilise online platforms, local classifieds, or trade-in programs offered by retailers to reach a wider audience and explore different avenues for selling your old devices. Image by dulhiier from unsplash

'But how do I go about this?' we hear you ask.

Well, we have some recommendations for you.

Licensed financial advisor and popular social media personality Queenie Tan shared her thoughts on this electronic treasure trove, dubbing it a 'huge opportunity'.

Her two cents? We could sell these gems for some quick, much-needed cash or trade them in for upgraded devices—hence saving on new purchases.

'Selling old items is one of my favourite side hustles. Sites like eBay make it super simple to sell old phones.' she confessed.

Plus, if you think about it, you are straightening up your home and helping someone else save money by going the second-hand route. It's a win-win!

For anyone interested in this lucrative side hustle, Tan offers a useful online sales tip.

‘My tip is to take great pictures and craft your copy with some personality with the detail - turning listings from drab to fab.’ she shared.

Even your broken tech could be worth a thing or two. The market for vintage tech is hot, and certain brands or models can fetch hefty sums. Think about it: your once beloved iPod could serve as a nostalgic emblem of yesteryears and a potential money-maker too.

Key Takeaways

• Australians are estimated to have a stash of unused smartphones worth about $5.7 billion, according to a survey by Pure Profile and phone company OPPO.
• The average Australian has 1.5 unused smart devices at home, potentially worth around $186.
• Financial advisor Queenie Tan suggests selling or trading old phones to make quick cash or upgrade to a new device.
• Queenie Tan also advises ensuring all data is deleted on the device before selling or trading it in and mentions the option of donating old phones to those in need.

Before you start clearing out your storerooms and whipping out the bubble wrap, remember to handle each device responsibly. Make sure to delete any personal data on the device. Your privacy is worth more than a quick buck.

And if you're not particularly motivated by a payday, your old phones could still serve a noble cause. You have the option to donate your old devices to certain services. They'll refurbish them and distribute them to those in need.

Do you think it's worth selling or trading in these devices to make some quick cash or upgrade to newer devices? Share your insights with us!

 

[Suzanne rose]

I have something in my attic worth something, I still have the original Atari console and games from the 70s .

I also have my very first mobile phone from the 80s know as the brick. It was one of the first touch screen and it was when I was connected with the phone company 3

Plus many old camera's, huge record collection, old super 8 projectors

 

[petal]

I have a Box Brownie camera still I working condition from the 1940s. Where would I
be able to get a price on that?

 

[MIZMAC]

The Smith Family would love some of these to refurbish for children and families who are suffering a disadvantage.

 

[Alan1]

I have a Box Brownie camera still I working condition from the 1940s. Where would I
be able to get a price on that?

 

[Catherines]

I have something in my attic worth something, I still have the original Atari console and games from the 70s .

I also have my very first mobile phone from the 80s know as the brick. It was one of the first touch screen and it was when I was connected with the phone company 3

Plus many old camera's, huge record collection, old super 8 projectors

Suzanne rose - I too have a 'brick', my first 'mobile' phone, an old Canon camera as well as a video camera, set of World Books A-Z from the 1980s, and complementing Year Books for that set both in fantastic condition, and set of Childcraft Books from the 1970s, 3 typewriters and a heap more stuff, including records (EPs and LPs from the '60s), a stack of CDs, my daughter's first doll (in perfect condition - she's now 48) etc - might be worth something if and when I get around to selling them!!

 

[ElleJay]

I have a Box Brownie camera still I working condition from the 1940s. Where would I
be able to get a price on that?

Are you on Facebook? If so, maybe join this group. It's only small, but scroll through the for sale posts and you will get an idea of what your camera might sell for. I have sold several cameras and phones on this group: https://www.facebook.com/groups/838573432848933

 

[MariaG]

I still have a cassette player that I used when a teenager. I used to put it in a little bag that I slung over my shoulder and play it when I went on my long, long walks. I didn't even care to replace it when the Walkman came into being.
Mind you, the cassette tapes have gone to cassette heaven. I remain attached to the player because it reminds me of the years when all my limbs and joints were in good working order. Those were the days.

 

[petal]

Are you on Facebook? If so, maybe join this group. It's only small, but scroll through the for sale posts and you will get an idea of what your camera might sell for. I have sold several cameras and phones on this group: https://www.facebook.com/groups/838573432848933

Thanks for that..