MoneyMagpie

Jul 04

How much money can you make by trading in your old video games?

Desperate to get the latest console or video game and feeling a little short on the old ready cash?

We’ve all been there, trying to find money lying around the house – reaching down sofas to find stray pennies, looking in cupboards and drawers for any loose coinage, or checking old jeans and coats to see if the pockets are lined with an almost sacred fiver.

However, if it’s a few quick quid you are trying to earn, there is value in some of your old consoles and video games that could really help to eat away at the price of buying a brand new game or accessory.

Of course, it depends on the popularity and rarity of the item you have in your possession, but you might be surprised at how much you can actually make from getting rid of some of the discs that are just gathering dust on the shelf, or consoles that are tucked away where nobody can see or play them.

There are a whole variety of places you could look to trade in or sale your games, including:

Let’s take a look at why and how you should trade games in.

 

Why trade games in?

Well the obvious answer is you need a bit of extra cash. Getting rid of unwanted games is a good way to make a bit of extra cash and a great way to clear your clutter (something we’re very fond of at MoneyMagpie!)

However, it’s also a great way to stat saving up for that new powerful console that, right now, is more an object of desire than a realistic purchase.

After all, the Xbox One and PS4 may have been on the market for a while now but even with the price coming down a bit, they’re still an expensive buy.

If it’s the Xbox One you have your eye on, it’s worth noting it’s not backwards compatible, so you can’t play 360 games on it. Although this might be frustrating, it could just give you the motivation you need to get rid of some of the lesser-played titles in your 360 collection.

If you’re after a PS4 then it’s a little more complicated. Some Playstation 4 titles offer discounted upgrades on PS3 games by using the Sony Entertainment Account, so some games you might actually want to keep. Even so, if you’ve got loads of games it’s unlikely you’re going to regularly play them all, so be bold in making sure you’re not keeping anything you could be getting hard cash for!

 

Where should I trade my games in?

As with any kind of money transaction, it’s important that you shop around to get the best price for your games!

It used to be quite difficult to know where was best to go. Those of us who are older gamers might remember taking a bag full of games into a store, getting each game valued by a member of staff (which could take five minutes or more) and then having to decide, there and then, whether you were going to accept the offer. If you refused you’d have to put all the games back in a bag and try your luck somewhere else – sometimes you’d walk back to the original store and embarrassingly ask for the initial offer again.

Thankfully, it’s SO much easier these days. Game, Ziffit and CEX all let you see online exactly how much you can get for your item, all from the comfort of your own sofa. Just a quick search will make sure you get the best price for you.

It’s worth bearing in mind that if you’re trading it in to a store like Game or CEX, you can often get more for your game by accepting store credit rather than cash. This won’t work if you just need the cash, but if you’re looking to buy another game or console, this will probably be the better option – just remember to check the price of the item you want in each store as well (there’s no point in getting an extra £2 for a game if the item you want to buy costs £10 more in one store than the other.)

There’s also always the possibility of selling your items on Amazon or eBay. You can often get a little extra cash this way, but it’s not an easy guaranteed amount like trading in your game, and you’ll be responsible for making sure it gets to the buyer. Amazon and eBay also take a percentage of the sale, so bear that in mind as well.

 

How much can I make?

Holding dollar bills on blue background

In all honesty you’re not going to make a fortune trading in old games, particularly if they’re last generation (360/PS3). However, it’s still worth getting a bit extra cash if you’re not going to play the game again!

Let’s say you wanted to sell your  Xbox 360 copy of Grand Theft Auto 5. Game will give you £4.20 cash or £6 store credit, Ziffit will give you £4.46 cash, CEX will give you £4 cash or a £6 voucher or you could try your luck on Amazon, where the lowest used selling price is £9.99.

If it’s a current generation (PS4/Xbox One) game you’ll get a bit more.

For Grand Theft Auto 5 on PS4, Game will give you £15.50 or £17 store credit, Ziffit will give you £12.40 cash, and CEX will give you £13 cash or an £18 voucher. On Amazon, the lowest selling price is currently £21.95.

As you’ll see, it’s not huge amounts of money, but it builds up if you trade in several games at a time. If you’ve got some old games, you might even have a rare gem that’s worth a bit. For example, if you’ve got an N64 copy of Banjo Tooie, you can get £50+ for trading it in!

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