Sony PSP and Xbox 360 lose over half of their trade-in value in 2013 as next-gen games consoles hit the UK marketDecember 3rd, 2013Selling Your Device, Tech-y Life Advice No Comments
The last two weeks has seen both Microsoft and Sony release hugely impressive next-gen consoles – with the PlayStation 4 taking the title as the fastest-selling games console of all time in the UK. It’s an exciting time for gamers, but just spare a thought for all those old, unused consoles which are now bound to be left behind – in drawers, under desks and potentially losing value.
By losing value we’re referring to re-sale value in the console trade-in market – how much money people can get for their old pride and joys! The fact is that the longer those consoles are left in cupboards, the more value they can lose – in fact a survey of recycle stores shows that some devices are depreciating extremely quickly.
For example the PSP, PSP Go and PlayStation 3 are the Sony consoles losing value most quickly – depreciating by 72 percent, 45 percent and 44 percent respectively. While the Xbox 360, 360 Slim and 360 Elite have lost 51 percent, 40 percent and 33 percent in value respectively since January this year.
This is all according to research by leading gadget trade-in comparison site CompareMyMobile – however experts from the site still say you can make plenty of money from selling old consoles if you research the right way to do it.
The site did a mystery shop of three online options for trading in an old console in the UK, comparing prices of the most traded-in Microsoft and Sony devices.
Results found that consumers can still get a good amount of money for old consoles, despite the obvious value drops this year. Experts suggest that you may be able to get more money for an old device by listing consoles on a site like eBay or Gumtree, where you can decide how much you want people to pay for it – however, this isn’t a guaranteed sale as it is when you decide to use a trade-in site, so it’s best to have a think about what works best for you.
According to prices on CompareMyMobile in late November (it should be noted that live prices are updated on the site every 15 minutes) consumers were still able to get as much as 85 GBP for an old Sony Vita WiFi + 3G or up to 65 GBP from an Xbox 360 Slim 250GB.
So, seeing as consumers can still make a healthy pocketful of cash, the site say it’s even more important for people to investigate how to properly dispose of old electronics.
Research conducted by Asda and Omnibus Polling suggested that there are as many as 12 million unused, old games consoles in the UK, which is concerning when you consider that as little as 10 percent of electronics are actually recycled. UK gamers are potentially just sitting on millions of pounds worth of consoles.
From an environmental point of view this isn’t great either. The parts that make up electronics are often made of materials which can be incredible toxic – and, if simply thrown away into landfill, can leak into an environment that we really need to keep clean. Research has shown that toxic chemicals in electronics such as Lead, Cadmium and Bromine can be hugely dangerous to human health – so it’s important to keep them out of our environment, to keep them out of our bloodstream.
It really seems like a no-brainer, when you think about it – by selling old games consoles you can walk away with a heavier wallet and the knowledge that you’ve kept some dangerous elements out of landfill. But the evidence is clear, you’ll get more money if you trade-in as soon as possible, however you choose to sell your old tech. Keep an eye on those prices!
Sami Colenutt is a gadget lover from the South Coast of the UK – usually seen with an Android phone in one hand and a notebook in the other.