The technology included within the next generation of game consoles is exciting. It will allow for stunning graphics, more players in online matches, faster processing and generally a better gaming experience. No matter what you think about the Xbox One and the PlayStation 4 you can’t deny that they offer improved technology that will lead to bigger and faster titles.
There’s one downside when it comes to the latest and greatest technology though, and that’s the cost. If the Xbox One is on your shopping list for November then you might be wondering how you can go about scraping together some extra cents to put toward this $499 console. One obvious option to make a bit of money to lower the cost is to sell your current generation Xbox 360, but how best to do that for the most money possible?
Where to Sell
There are numerous options when it comes to selling an old games console. You can offer it to friends or family members, trade it in at a local store, use an online trade-in facility where they’ll come and collect your console from your own home, or use an online retail website such as eBay. Let’s consider some of the pros and cons:
- Selling to someone you know. This is often the best strategy for making the most money from the sale of your current console, but relies on someone that you know wanting what you have to offer. It could be that your Xbox 360 complete with games, controllers and Kinect could be just what someone not interested in having the latest and greatest technology out there is after. If you know of someone interested approach them directly, or otherwise why not put some feelers out on Twitter or Facebook to see if any of your followers are tempted.
- Trading in your console, be it through a local store or online, requires the least amount of effort from you. That’s the reason why these trade-in websites have started to perform so successfully lately; all you need to do is say what you’ve got, pop it in a box in the mail and voila, you get a check. The downside is this option is likely to give you the lowest amount of cash for your console. The prices offered are changing all the time, but for an old Xbox 360 model you’ll be lucky to scrape enough to pay for even one Xbox One controller, and even the newest 360s are likely to bring you something between $50 and 70 at trade-in (at the time of writing).
- Selling on a retail website such as eBay. If you don’t know someone interested in your console and don’t want to take the low price that a trade-in store is offering then you might want to consider listing your Xbox 360 on eBay. Although it’s a highly competitive market out there, if you do have an assortment of games and accessories you could put together a package that would be very tempting to someone wanting to dive straight in without having to buy everything separately. Just make sure your eBay description is well written and details absolutely everything you’ll be including in the sale.
No matter where you do choose to sell your Xbox 360 you should ensure that you have removed every shred of data from the hard drive, particularly if you are selling through private means such as eBay or to a friend.
When to Sell
The next question when it comes to getting the most for your Xbox 360 console is when to sell it. As with the majority of technical items, the longer you hang on to them, the less they are worth so with that in mind selling your console sooner rather than later is a good strategy.
Think about it; when the Xbox One is released gamers that have preordered will suddenly become aware that they don’t really need their Xbox 360s anymore. This is likely to result in the marketplace being absolutely flooded with the old consoles in the month or two following the launch of the next generation console. That many consoles being offered for sale all at once will drive the price of the Xbox 360 down, and therefore reduce your chance of making much profit from it.
If you are thinking of selling then it’s worth making the decision as soon as possible. It might mean a few weeks without access to a console, but if you want to make the most money from the sale now is the time to act.
Keeping Hold of Your Console
There is another option of course, and that’s keeping hold of your Xbox 360 to play alongside your Xbox One. Why? Well there are a few potential benefits to hanging on to the old machine for a little longer:
- The Xbox One won’t play Xbox 360 titles, so as soon as you get rid of your Xbox 360 you won’t be able to play any of your old games.
- As the One won’t play old games you’ll also be limited to those titles released right away with the new console, and that’s likely to be a relatively thin list for the first couple of months.
- There are undoubtedly games that you haven’t played for the current generation of consoles that won’t be launched on the next gen machines, so you may want to have a bit of an overlap to get the most from your 360.
- If you plan to wait for the Xbox One you could keep hold of your 360 and save up for a while, or wait to see if the prices drop a few months after launch.
So there we have it. Selling your console is a way to make a bit of extra cash to put toward the Xbox One, but get a move on as the longer you wait, the less it will be worth.
Article by - Rebecca Waterman
Insert Date: 10/02/2013
Check out our Xbox One forums and discuss games!