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Make an income using buyback services
Unlock the hidden potential of buyback services and transform your old gadgets into a lucrative side hustle.
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Most people think of buyback services as a one-time thing. You’ve got an old phone collecting dust, you sell it, pocket some cash, and that’s that.
But there’s a bigger opportunity here that not enough people are taking advantage of.
If you know where to look and what to buy, you can turn electronics buyback into a legitimate side hustle.
It’s not going to replace your day job, but it can put a few hundred extra dollars in your pocket every month with minimal effort.
The basic concept
The idea is simple. You find electronics being sold for less than their buyback value, buy them, and then sell them to a buyback service for a profit.
The margins aren’t huge on individual items, but they add up quickly when you’re doing volume.
This works because there’s a massive information gap in the resale market, and people get tired really quickly of dealing with strangers.
Someone selling their old iPad on Facebook Marketplace has no idea what it’s worth to a buyback company; they just want it gone and they’ll take whatever seems reasonable. That’s your opportunity.
Where to find deals and what to look for
The best hunting grounds are local marketplaces where people are trying to offload stuff quickly. If you know what you’re looking for, Facebook Marketplace, Craigslist, and OfferUp are goldmines.
Garage sales and estate sales can be great too, especially if you’re in an area with a lot of tech workers. Once you find a good item, there are a few things to look at before jumping in:
Age: Focus on items that are a few years old but not ancient. An iPhone 12 or 13 is perfect because it hits that sweet spot where the device still has solid value, but sellers are often more motivated to move it quickly than to squeeze out every last dollar.
Devices that are too new usually get priced close to market rate, and anything too old won’t have enough profit potential.
Condition: Condition is important, but don’t sleep on devices with minor issues.
A phone with a cracked back glass might sell for $200 locally, but if everything else works, a buyback service might still offer $280 for it. That’s an $80 profit for 20 minutes of work.
Locked/Unlocked: Always check if the device is unlocked. Unlocked devices are worth more to buyback services.
So if you can find an unlocked phone being sold at a locked phone price, that’s extra money in your pocket.
The process
Once you spot a potential deal, check what buyback services like RakeRock are offering for that specific device before you contact the seller.
Their online quote systems let you enter the device details and see an instant offer.
This way, you know your profit margin before you even reach out. If the numbers look good, move fast. Message the seller immediately and try to meet up the same day if possible.
Bring cash since it makes transactions smoother and many sellers prefer it anyway.
When you meet up, test everything before handing over money. Make sure the phone powers on, the screen responds properly, all the buttons function, and most importantly, verify there’s no iCloud or Google lock.
A locked phone is basically worthless, so always confirm it’s ready for a new owner before you buy.
If everything checks out, complete the purchase and head home. Accept the buyback offer you already looked up, print the prepaid shipping label, and send it off.
Payment typically arrives within 24-48 hours of them receiving the device, and then you’re ready to hunt for the next deal.
Whether you want to sell iPhone 16 models, iPads, MacBooks, or high-end Samsung phones, there are plenty of opportunities to make some extra cash.
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Disclosure: This is a sponsored post. However, our opinions, reviews, and other editorial content are not influenced by the sponsorship and remain objective.
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