Amazon now accepts CD trade-ins for store credit
(CBS News) Looking to unload your old 'NSYNC albums? Amazon will now let you trade in used CDs for store credit.
Full coverage of Amazon at Tech Talk
Previously, Amazon customers were able to trade in electronics, books and video games, but not music. Amazon announced Wednesday that their Trade-in Program will now accept CDs.
"The Amazon Trade-In Program allows customers to receive an Amazon.com Gift Card directly into their account in exchange for hundreds of thousands of eligible items, including DVDs, video games, electronics, books and now CDs," Amazon said in a statement via email.
Not all CDs are accepted at the Amazon Trade-In market. For instance, 'NSYNC's "Greatest Hits" can be traded in for $2.15, but Amazon is not accepting "No Strings Attached." Sorry folks, "Now That's What I Call Music! 6" will only fetch you $0.90.
Prices tend to go up for more updated music acts. Adele's "21" has a trade-in value of $2.35 and Katy Perry's "Teenage Dream: The Complete Confection" is worth $4.50.
There is some speculation over why Amazon would pay out money for a waning music format. One of the theories is that the online retail giant hopes customers will spend more than the balance of their gift cards. A 2009 Consumer Reports survey suggests that 65 percent of adults who received gift cards spent more than the value of the card.
SmartMoney cites studies that show consumers tend to spend 40 percent more than the value of the card.
If you're already part of Amazon's ecosystem and don't have easy access to a used record store, it's a good option for making the transition from CDs to digital music.
