How to Make Money Selling Used and Refurbished Cell Phones

Many people getting a new contract end up with a new phone too but what about the used cell phone sitting back at home? What happens to it? Sometimes a child will use it for a toy. Why not talk like mom and dad on the cell phone? If a child doesn't get use out of it, the phone usually finds its way into the garbage can. Most people don't realize how financially rewarding their old cell phone can be. Why not sell that refurbished cell phone for a little extra pocket cash or turn it into a moneymaking business?

How can you get started making money with used and refurbished cell phones? The simplest way to begin this task is to speak with family and friends to see if they've got any of their old cell phones put up in boxes or in a drawer. Ask them if you can have them (make sure they wipe off all personal information). The second thing you can do is to place an ad in a newspaper or online, asking for used cell phone donations. If there are any phones less than a certain age (three years is sufficient), offer the owner $10. Lastly, check on websites and local outlets of cell phone retailers to find out what kinds of deals they might have on refurbished cell phones.

One you've gotten a decent sized inventory, it's time to do a little research; you need to find the value of each phone you have in your possession. You may find that some phones you have purchased are worth under $10. This usually happens to phones that are commonly sold in retail outlets. There may be some phones that are worth a lot more than the $10 you paid. All in all, it evens itself out. Each phone model needs to be correctly matched to its serial numbers. If you fail to do this, you may end up overcharging or undercharging people.

After you've got the worth of each used cell phone, you need to start selling the inventory. There are two ways you can quickly move your inventory and make a good profit. First off, take every phone worth less than what you paid out and place them aside. Total up the amount you paid for all your phones and place this information on a piece of paper. Now find a website that purchases used cell phones and actually sells them for less than what you initially paid. Once those phones are sent, subtract the price you got from them from the original total.

Whatever you have left, make yourself an eBay seller's account. Sell your used and refurbished cell phones for approximately 80 percent of what other sellers are selling theirs for. While some sellers tend to have good luck selling their phones at a high price, remember you're just starting out. They have established themselves as reputable cell phone retailer. Build up your feedback rating first before you up your prices. Once your initial cell phone batch has been sold, count your profits and begin the process again.