Nextworth gadget trade-in site offers 20 percent bonus for Cyber Monday 2013

iPad 4 and iPad mini

Gadget deal site Nextworth is offering a 20 percent off bonus to customers on Cyber Monday 2013.

What exactly does that mean? It means that with the use of the coupon code CYBR20, customers can receive an additional 20 percent added to their normal trade-in quote.

Nextworth takes gadget trade-ins for devices in the categories of iPhones, iPads, other smartphones and tablets, e-readers, laptops, and many more. As an example, a fourth-generation iPad, 16GB, WiFi only, would receive a quote of $240 without the bonus. With the bonus, the value rises to $288.

As a comparison, rival trade-in site Gazelle would offer a value of $230 for a "good" iPad 4, and $245 for a "Flawless" fourth-generation iPad.

Nextworth customers have the option to choose PayPal, a check, a NextWorth’s Discover prepaid card, or a Target Gift Card for payment. To be clear, customers who opt for the prepaid card -- a new option -- will receive an additional five percent bonus value on all trade-ins. This is stackable on top of the 20 percent off coupon code.

Jeff Trachsel, CMO of NextWorth said the following: “This holiday shopping season, we’re offering our customers even more value for their used electronics. With electronics one of the most popular holiday gifts, and more people than ever trading in previous models, we want to give our customers the best possible return on their old devices.”

With the holiday season not approaching, but here, and with devices like the iPad Air and iPad mini with Retina display recently introduced by Apple, folks are looking to trade in their gadgets for new ones. Nextworth's bonus will help them buy new devices (Something that Apple, Samsung, HTC, Motorola,, and more (electronics and gadget providers) will appreciate).

Wikipedia describes Nextworth as follows:

Nextworth purchases used electronics, such as smartphones, digital cameras, iPads, and laptops, and resells or recycles them. About 80-85 percent of trade-ins are re-sold as a refurbished item, while the remainder are sent to a network of partners for recycling. Many iPhones are resold in countries where new iPhones are more expensive. It also facilitates in-store trade-ins at partnered retailers like Target and Circuit City (before it -- Circuit City, that is -- went out of business in 2009).

The idea for NextWorth originated from business students at Babson College in 2005. It started as a commission-based service to help businesses setup online auctions for their used items. In 2006, it changed its business model to focus on electronics trade-ins.