$13.4 billion in old iPhones are being hoarded by consumers

Almost 50% of people say they store old phones in a box, drawer or cupboard at home, according to a new survey carried out in January and released Wednesday, down from the 55% who were asked the same question a year earlier. The trade-in value of all those old gadgets: $47 billion based on the total number of smartphone owners in the country, up from $34 billion a year ago, according to the annual “Mobile Mountain Study” conducted by research group OnePoll for resale site SellCell.com , which obviously has a vested interest in tapping into this possible gold mine. “Americans are still unaware of the money they can make by trading in their old mobile,” says Keir McConomy, founder of SellCell.com.