British Students Are Sitting On A £8.46bn Goldmine

A study by online auction site eBay found that British students own a collective £8.46 billion worth of gadgets.

The survey asked 1,000 students up and down the country to tot up what gadgets they had, and the results were used to create the university ‘rich list’.

eBay found that Birmingham University undergraduates had the highest value collection, with £6,991 worth of gadgets.

On average, students own 36 pieces of technology from anything as small as headphones, ranging right up to pricey laptops. They also own an average of 61 items of clothing and 35 household products, such as vacuums and kettles.

Many students may make the mistake of assuming an item is worthless, or that no one will purchase their unwanted goods. Astonishingly, 4 in 10 students admitted they would ditch their gadgets at the end of term rather than sell them.

It’s estimated that 4.5 million shoppers visit the eBay fashion category every month alone to search for new and second-hand clothing and in 2013, 17 million users logged on to this area of the site.

Things get even more interesting when you delve into the tech you gathered as a child. Gameboys, Furbies and retro items could be of high value if kept in good working condition. One eBay seller has currently listed an original Gameboy for £999.99.

These disposable items that have long been forgotten could bring in vital income for students.

Balancing your studies

With many students struggling to balance a part-time job with their studies, selling these unwanted items online could earn them an estimated £6,045.

Selling items online is an accessible route for students. Trading under the protection of eBay and PayPal offers security for those selling pricey gadgets, but once the item is out of your hands you must ensure that it is insured in case of any mishaps during transit.

Parcel insurance does not always come as standard. Selling online may seem like a bright idea for students, but it should be done with a trusted courier service.

Marketing Manager for Parcel2Go.com, Robert Mead, said: “The growing accessibility of auction sites has given students a fantastic means of making some extra cash to supplement their loans and grants. It’s amazing to think just how much cash the average person is unknowingly sitting on.

“Of course, as with all eBay sellers, students need to ensure they’re using a reliable delivery service to send their goods out. More than most people, price is a big issue for university students, so the need to compare and find the cheapest delivery services is even greater.”

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