UK Households Are Sitting On A Treasure Trove Of Unused Cameras

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New research investigating unused tech across UK homes shows that over 53% of adults have at least one unused camera in their home, with 22% having two or more they no longer use. The figures for lenses aren't quite as bad with just over two-fifths of UK adults having these lying around their homes but still, it's a revenue opportunity more could be tapping into.  

To put it into perspective, the average value belonging to consumers is estimated at £293.50 which means the entire country is sitting on over £19 billion worth of cameras and camera accessories that they don’t even use.

Despite how much consumers stand to make, only a third (37%) have sold an old piece of tech in the last 10 years, with 73% admitting they’ve never traded in an old item in order to get a new one but MPB is hoping to change this by highlighting the financial gains that can be made from the cameras and equipment that would otherwise be hidden away in a kit bag.

"The average value of unused camera kit consumers are hoarding is estimated to be £293.50 which equates to the entire country keeping hold of over £19 billion worth of unused equipment!" MPB survey results. 

Matt Barker, Founder and CEO of MPB, said: "Circularity should be a way of life but our research shows that this really isn’t the case when it comes to unused tech. There are opportunities online and on people’s doorsteps which allow them to give their unused items a new lease of life and they should grab them with both hands. 

Camera kit is specifically built to last. Your old smartphone might not be much use to someone as a smartphone anymore, but if you’ve got an unused camera in your drawer then get it back into circulation so somebody can make the most of it. You also stand to make some cash and offset the cost of a new piece of kit in the process."

When asked why they hadn’t ever sold an unused piece of tech, the two most popular reasons consumers give are they think they won’t get much money for it (47%) and that they or someone close to them might need it one day (25%) but MPB's latest research figures show this is simply not true. MPB analysed the average price movement across the top 100 pieces of photography kit consumers receive quotes for on its site and found from March 2020 to March 2022 the average piece of kit appreciated in value by 1.6%. This is great news for the 53% of consumers that have an unused camera in their home.

Matt Barker continued: "Consumers are already buying and selling used clothes, cars and furniture, and seeing the great gains to be made from this. We want to highlight to them that there are also huge savings to be made in tech too. Taking cameras as an example, the average MPB customer saves a third when they buy a used model from us, compared to if they had bought that same model new. Savvy shoppers are catching on to this but there are so many people still out of the loop."

To find out what your unused cameras and photography equipment could be worth, click the button below to get a quote from MPB today. 

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