There are a couple of ways this can be achieved.
Customers can either turn to eBay and list their device or sell it through a buy back service like Boomerang Buy Back.
On eBay, interest in smartphones is at an all time high with Apple and Samsung the most popular.
Apple does win in the popularity stakes with three times more iPhones sold per hour than Samsung Galaxy handsets.
Since April searches on eBay for iPhone 5 have actually increased by 12 per cent.
The market for smartphones on eBay is strong with more than 200,000 devices bought and sold in Australia alone.
But if you don’t want to go to the trouble of listing your iPhone or other smartphone on eBay or other online auction and sale sites, you can try a buy back site like Boomerang Buy Back.
Boomerangbuyback.com.au offers cash for your devices.
Simply look up your device on the site, fill in a checklist of the device’s condition and whether it still has the original box, charger etc and then receive an instant offer.
For example, for an iPhone 5 32GB in good condition with the original box and charger you can receive $373.
A Galaxy S III 4G can also earn you $270 on the site.
If you agree to the price, you simply create an account and you will receive a free shipping label so you can send the device to Boomerang Buy Back at no cost.
Once the items arrive and they’ve been checked, you will then receive an email followed by a payment either as a cheque or directly into a PayPal account.