Australia is sitting on $6.4 billion gold mine of unused mobile handsets

AUSSIES are sitting on a billion dollar gold mine and don’t even know it.

Data obtained from eBay shows Australian smartphone users have an estimated $6.4 billion worth of second hand handsets sitting in their homes.

This coincides with research from Deloitte Global, which claims used smartphone sales will generate more than $17 billion for their owners on a global scale.

eBay’s head of Electronics and Emerging Technology Mark Bulgin said the ever-evolving landscape of the smartphone industry meant there was also money to be made.

“With Samsung releasing the Galaxy S7 smartphone this week, and Apple rumoured to follow with the iPhone 7 release in the near future, now is the perfect time for Aussies to sell their older models to fund the upgrade,” he said.

Mr Bulgin said the average selling price for an iPhone 6 Plus is marginally more than the more recently launched Samsung Galaxy S6 Edge, despite being released more than a year ago.

“The average selling price of the Apple iPhone 6s has only fallen $50 since September 2015 and is still fetching over $875 for a single handset, while the Samsung Galaxy S6 is fetching around $526,” he said.

According to Mr Bulgin, nearly 485,000 mobile phones and more than 11.4 million mobile accessories were purchased by Aussies via eBay last year alone, with the average phone selling for $286.

“Apple, Samsung, LG, HTC and Nexus were the most searched mobile phone brands of 2015,” he said.

The Samsung Galaxy S7 is arguably the most talked about model of 2016, but iPhone owners can be confident that there is an appetite for new and used iPhones with 10 million searches for the iPhone compared to four million for Samsung smartphones in 2015”.

To make the process easier, eBay has implemented a ‘How much is your smartphone worth on eBay’ widget, which gives consumers an idea of what amount they can receive for their handset.

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