Let's say you have a 5-year-old GE refrigerator that originally cost $750. Depreciation per year: $750 / 15 years (expected lifespan) = $50 Life left: 15 - 5 = 10 years Value: 10 years x $50 = $500 If the refrigerator is in excellent condition and there's high demand in your area, you might price it around $500.
For an old refrigerator, you can expect to earn around $15 to $30 at a scrap yard.
You can make money with your old fridge by selling it online (such as on Facebook or Craigslist), placing ads in your local newspapers, or by selling it for scrap metal if it's no longer in working condition.
Local utilities and energy-efficiency organizations support a growing number of refrigerator and freezer recycling programs. Some programs offer cash to recycle your old fridge; others offer utility bill credits.
You can spend anywhere from as low as $75 to $750 and beyond; it all depends on what you're looking for.
Let's say you have a 5-year-old GE refrigerator that originally cost $750. Depreciation per year: $750 / 15 years (expected lifespan) = $50 Life left: 15 - 5 = 10 years Value: 10 years x $50 = $500 If the refrigerator is in excellent condition and there's high demand in your area, you might price it around $500.
You can determine a fair price for a used appliance by following a three-step formula: Initial purchase price / estimated life cycle of the appliance = Depreciation per year. Life cycle of appliance – Age of appliance = Life left in life cycle. Life left in life cycle X Depreciation per year = Fair price.
Sell It to a Scrapyard
Another option is to sell your old refrigerator to a scrapyard to make some money back on the appliance. To sell a refrigerator for scrap, you first need to have the refrigerant removed and the lines capped by a licensed repair company.
Water heaters and other appliances that use plumbing for operation are especially worthy of collecting for scrap metal purposes. These types of appliances tend to feature valuable components that are in high demand, such as copper pipes and copper wiring.
A scrap man may take a fridge or freezer away, but typically not for free since these white goods cannot be scrapped ordinarily at scrap yards. Fridges and freezers can be salvaged for their steel, aluminium, copper, and other materials which typically make up around half of the total weight of the fridge/freezer.
When you compare the embodied energy of a new refrigerator and the associated carbon emissions to the operating costs of an old refrigerator, it makes little sense to keep a fridge older than about a dozen years.
Appliances Accepted for Pickup: Home Depot offers free pick up of used appliances of all kinds, from old dryers, dishwashers, refrigerators and freezers to oven ranges and stovetops.
Age of the Fridge: If your fridge is over ten years old, has major problems, or is just past its refrigerator lifespan, then it might be time to upgrade it.
Your selling for cash options range from yard sales to online selling sites to second-hand appliance shops. In addition, a number of states and municipalities offer rebate programs for old refrigerators as do many power and utility companies.
The amount of copper a compressor contains varies from size to size. The compressor of a small refrigerator contains around one pound of copper, whereas a large refrigerator compressor contains about 2.5 pounds of copper.
Every scrap yard is different, but many do accept common household appliances such as refrigerators or microwaves. If you have an old appliance and you're not sure what to do with it, contact your local scrap yard.
Selling your old refrigerator for scrap can be a great way to make some extra cash and recycle valuable materials.
Your lightly used, but very workable appliances, still have a lot of value. One option is that they can be sold outright. Used, but working, appliances are usually very much in demand and you could first try selling them in a garage or yard sale.
Contact your council, or charities or social enterprises in the area to see if they provide a collection service. If you're buying a fridge or freezer, the retailer should take your old one away. Find your nearest drop-off or collection point for electricals by entering your postcode in our recycling locator.
If odors cannot be removed, then the refrigerator or freezer may need to be discarded. If you need to discard the refrigerator or freezer, discard it in a safe manner: "Childproof" old refrigerators or freezers so children do not get trapped inside.
The refrigerant vapor is pressurized by the compressor and reaches the cooling coil outside of the refrigerator chamber, where it promptly condenses back into a liquid. A simple answer to your question is: Copper is a great conductor of electricity, which is why commercial refrigerator cooling coils are made of copper.
While your old refrigerator may still look good and work well, if it is more than 15 years old, it's more than likely using a significant amount of energy -- in fact, more than twice the energy of a new ENERGY STAR certified model.
Alternative Ways to Recycle
Local or regional utilities host bounty programs that take back used appliances. Receive discounts and rebates for turning old refrigerators for an ENERGY STAR® qualified model, which saves energy and money on operating costs. Find out more from your utility provider.
Price Ranges
You can find refrigerators starting from as low as Rs. 14,990 for a basic single door model up to Rs. 1,00,000 for large French door and side-by-side refrigerators.
Refrigerators can cost anywhere from $500 to $12,000 depending on what brands and styles you are shopping for. You can find mid-range models that fit most homes for $1,500 or less if you are on a budget.