By the end of the holiday season, there’s a good chance you may be in possession of a snazzy new gadget—whether it’s the latest iPhone stuffed into your stocking or a shiny new Kindle under the tree.
So what happens to that now-outdated version you used to carry? If you’re like most Americans, that once-valuable gadget will simply collect dust.
In fact, according to a new survey by online marketplace uSell.com, 51% of Americans fess up to holding on to two to five old-model electronics—and more than two-thirds of us (67%) have gadgets lying around the house that haven’t been touched in at least three months.
But there’s good reason to part with that outdated model: You could turn the gadget into some extra cash.
Websites such as uSell.com and Gazelle.com provide marketplaces to sell your old tech devices—like iPhones, iPods, Androids, Nooks and Xbox 360s—while places like Amazon.com offer electronic trade-in programs.
So before you head out to splurge on sleek new tech toys this season (or simply excavate them from their wrappings), gather up those old gadgets and try your hand at a sale. According to uSell.com, a 4th Generation Apple iPad 128GB could reel in up to $300, while a Samsung Galaxy S4 could mean an extra $200 or more in your pocket. Overall, uSell.com estimates that over $12 million has been raked in by customers selling old electronics on the site.
One more bonus to selling your old iPhone: You’ll keep the gadget from ending up in a landfill—and finally clear out that junk drawer.
Who knows? You might make enough to pay for that holiday trip home.