Nearly 50 Percent of Americans Sitting on Hidden Money

BOSTON, MA--(Marketwire - Dec 11, 2012) -  Families may not have to look very far to find extra cash for the holiday shopping season. A recent survey conducted by Gazelle, the nation's leading high-end consumer electronics trade-in site, showed nearly 50 percent of respondents are sitting on extra cash from their unwanted consumer electronics and don't even know it.

The survey, completed through Google with more than 1,500 respondents, illustrated that more than one-quarter (27 percent) of American households have a relatively new (less than three years old) laptop or desktop computer they are no longer using, and nearly 20 percent of respondents have an unwanted iPhone or Android device.

In the last year, Gazelle paid out an average of nearly $400 for a used Apple® desktop or laptop computer. Additional popular items Gazelle paid for over the course of the last year, along with the average value, include:

• iPads - $235
• iPhones - $134
• Android phones - $81
• BlackBerry phones - $64

"Everyone feels the crunch of the holiday season yet many consumers don't realize they could easily have cash in their pockets by selling their unwanted consumer electronics," said Sarah Welch, chief marketing officer, Gazelle. "What surprised us most from the survey is the sheer number of people that are sitting on relatively new consumer electronics they no longer use."

Some additional data points from the survey illustrate that consumers are becoming more tech savvy than ever, wanting the latest and greatest as soon as it's available. As a result, unwanted consumer electronics that are less than three years old are becoming increasingly more frequent in the early adopter age groups:

• More than 12 percent of respondents ages 18-24 report having an unwanted iPhone less than three years old.
• More than 15 percent of respondents ages 25-34 report having an unwanted iPhone less than three years old.
• More than 15 percent of respondents ages 35-44 report having an unwanted Android phone less than three years old.

About Gazelle
Gazelle (www.gazelle.com) is the nation's leading high-end consumer electronics trade-in site, providing an easy, fast and safe way for consumers to get cash for their unwanted devices. Gazelle takes the risk and effort out of selling electronic gadgets online with benefits such as free shipping and packaging and comprehensive identity and data removal. To date, Gazelle has accepted more than one million trade-ins, helping consumers upgrade to the latest technology and earn quick cash. Based in Boston, Gazelle is privately owned and is backed by premier venture capital firms Venrock Associates, RockPort Capital Partners, Physic Ventures and Craton Equity Partners.

Gazelle is a trademark of Gazelle, Inc., registered in the U.S. Apple is a trademark of Apple Inc., registered in the U.S. and other countries. Gazelle is not affiliated with Apple.