Research from MPB — the largest global platform to buy, sell and trade used photo and video gear — shows most US adults have thousands of dollars worth of unused gear.
Rachel Thompson, MPB Head of Sustainability, said: “It’s really important to put a halo on selling used and not only buying used. When you sell used [gear], you’re really hitting that sustainability triple home run: making some money, doing good for the planet and enabling another person to access affordable [gear].”
Read below for key findings from MPB’s market research.
There is over $650 billion worth of unused tech in US homes
Americans are sitting on over half a trillion dollars worth of technology they no longer use. Of the nine countries we surveyed in America and Europe, the US accounts for half the total amount ($650 billion of $1.2 trillion).
The average US adult has at least one camera they no longer shoot with. Most own multiple unused electronics, including TVs (66%), smartphones (65%), laptops (58%), cameras and tablets (56%) and gaming consoles (48%). The majority of adults 34 and under own at least one unused item in each category.
US adults spend an average of $500 upgrading their tech each year (55% of Americans like keeping up with current tech) and over two-thirds (68%) of adults think new technology is too expensive. Despite this, half of US adults reported never having traded a used item for a new one.
The average US adult has $2,459 worth of unused gear
Countless tech items sit completely untouched in US homes. Most US adults have close to $2,500 worth of devices they no longer use. Over 50% have an unused TV, smartphone, laptop or camera at home, while just under half of adults have a gaming console gathering dust. (Research has shown that Millennials and Gen Z adults have even more gear sitting at home.)
While these products could be traded for new items (American adults spend over $500 a year on new tech) or sold for thousands of dollars, most adults hold on to them despite not using them.
Roughly 10% of adults surveyed don’t sell their unused tech because they “don’t know how to” and almost 15% feel “they don’t have enough time.” Adults under 35 are most likely to view selling old tech as “too much effort.” Many adults, especially those 55 and older, don’t sell unused tech because they think they won’t make much money.
US millennials and Gen Z hold on to the most unused tech
Who said hoarding is boomer behavior? Surprisingly enough, younger US adults are 18% more likely to hold on to tech due to sentimental value (25% vs. 7%).
American adults ages 18-34 can make more than anyone by selling unused devices. The average adult in this age group owns nearly $4,000 ($3,691) worth of unused electronics. Even so, they’re still unlikely to sell or trade tech they no longer want or need. They are, however, more likely to sell than adults 55+ (73% of adults in this range have never sold or traded an unused item vs. just 37% for adults 18-34).
Make nearly $3,000 from a modern California Gold Rush
If you’re an adult in California, you could make an average of $2,910 in cash by selling unused gear. While 70% of adults in California consider technology overpriced, nearly half (47%) have never sold or traded used gear to fund new items.
California adults spend an average of $612 a year upgrading to new technology, meaning most residents could buy multiple new items with the payout they’d earn by selling their unused gear.
The average New Yorker has $2,567 worth of unused tech
Want to make easy money in the Empire State? Most New York adults have over $2,500 in items they no longer use. Whether it’s an old camera or a gaming console, there’s much money to be made by unloading unused items.
Our studies show that over two-thirds (71%) of adults in New York view tech items as overpriced. What better way to cover the cost than trading in unused gear? Most New York adults spend over $600 ($625 annually) keeping up with the latest tech.
Florida adults are sitting on unused tech worth roughly $2,000
Adults in the Sunshine State have a simple way to make 2K. Florida adults own, on average, $2,095 (worth of unused cameras, computers, TVs and other tech at home.
While most Florida residents agree new technology is more costly than it should be, half said they never have sold or traded a used item to make money for upgrades. (Florida adults spend $538 every year purchasing new tech products.)
Most Texans have nearly $3,000 in cameras, TVs and other tech
Everything’s bigger in Texas — including the payout you can earn by selling unused gear. The average adult in Texas owns multiple pieces of tech they don’t use. Whether these items are cameras, laptops or gaming consoles, the average total value of tech is $2,953.
Two-thirds of Texans think new tech products are too pricey, yet most don’t sell or trade used cameras and lenses to make extra cash. Most Texas adults spend roughly $551 on new tech each — an amount that can easily be covered by selling some old items.
Pennsylvanians can make almost $3,000 by selling unused devices
While most adults in Pennsylvania allocate $588 a year toward new tech (that 68% consider overpriced), half don’t sell or trade to make up for it — even though their unused gear could easily cover the cost.
Research shows the average Pennsylvania adult has $2,953 worth of cameras, laptops, TVs and other technology they no longer need at home. If you reside in the Keystone State, clearing out your closet could be the quickest way to make cash.