Researchers have found that the typical adult has an incredible value of £ 598 in superfluous appliances – simply collecting dust and messing around the house. However, over the past year, smartphones, computers, tablets, game consoles and clothing devices have been depreciated collectively by an average of 20%. Although, at that time, iPhones fell by an average of 36% in total, according to data from musicMagpie.
In fact, the iPhone XS fell by £ 259, while the iPhone 7 and 8 fell by £ 71 and £ 114 respectively.
In the past 12 months, Samsung phones, like the Galaxy S10 +, have also been depreciated by £ 127 and the MacBook Pro Core i7 dropped by £ 105.
Likewise, some tablets have plummeted to 93 pounds and some smart watches have dropped 49 pounds.
The study of 2,000 adults also commissioned by musicMagpie, found that they currently have an average of 11 unused devices – including laptops, game consoles and cell phones.
But instead of selling the technology and pocketing some money, 32% keep them close at hand – just in case.
Liam Howley of musicMagpie said: “There are so many tech people who could help make money and, alarmingly, the value of this is depreciating before your eyes.
"Cell phones that are pushed to the back of a drawer or game consoles that accumulate dust in cabinets and boxes can be worth a lot more if they are resold when they are no longer in use.
"Our research has shown that not everyone knows that their technology can really be worth something – and they think it is more worth keeping it for a rainy day, but it is the other way around."
The study also found that cell phones are the most searched devices – with the average person having at least two unused devices at home.
And 12% have up to five or more mobile devices scattered around the house unused.
But while four out of ten cling to old technology, because they think they will use it one day, 27% just don't bother to do anything with it.
One tenth clings to old devices so that their children can play with them, and a fifth still keeps them for the memories they keep.
As a result, 43% would describe themselves as a "technology accumulator", but more than half of the respondents wished they could live a more minimalist lifestyle.
More than a third still have a specific drawer or box to store these items while they accumulate dust, with storage points for popular gadgets in the attic and on the nightstand.
Lack of motivation is the main reason why people across the UK don't rate old gadgets and devices, and they don't know what to do with unused items and running out of time.
In fact, people are more likely to search through the contents of your garage, organize your bookshelves, or clean the utility closet than old appliances.
The study, conducted via OnePoll, also found that adults expect to keep an unused cell phone for up to four years before finally doing something with it, while laptops or computers will be kept for five years.
Although almost two-fifths had no idea, they could lose money selling their old technology or that certain devices would lose value if stored for years on end.
It also emerged that 17% have bought a new technology item in the past eight weeks to help them work from home, stay connected to family and friends or have fun.
However, 58% of those adults have not sold the old devices they are no longer using – resulting in more confusion at home and a wasted handful of money for many.
And if a new smartphone model were made available, only one in 20 would trade in their existing cell phones, with Britons twice as likely to keep the old technology than to sell them online.
But 80% think that new technology models are launched very often, while 76% cannot afford to continue to have the latest technology.
As a result, 77% of people want their technology to last longer.
Liam Howley of musicMagpie added: "It is clear from our research that something needs to change in the way we buy and recycle technology.
“There is another option that is smarter for the consumer and smarter for the environment.
“This circular economy model sees old technology being resold in exchange for money, then refurbished to a high standard and reverted to the next person to use.
"And that, in turn, reduces the mountains of e-waste that go into landfills around the world, but also the landfills that are in people's drawers and lockers."