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Online buy-back service lets music lovers turn their old CDs into credit-crunch busting cash, and pays P&P costs too

MusicMagpie, an online service that lets people convert their old or unwanted CDs into cash, has officially launched today following six months of testing. www.musicmagpie.co.uk pays between 25p and £3 each for CDs that users send in via its free to use trade in service. Each year over £21 million in old CD’s are thrown away in the UK when they could be converted into cash.

The service is simple to use. Users go to MusicMagpie and click the “Get cash for your old CDs” button. They then type in the barcode number from the CDs they want to sell. The website will search its database and make a cash offer for each one, with the site buying up to 250 CDs in each transaction.

When the user accepts the offer, they are sent prepaid padded envelopes to send in their CDs. A cheque is issued within 7 days of receipt after each CD is checked against terms and conditions.

A trial version of the site was launched in early 2008 and has already paid out over £130,000 to its 4000 registered users, with user numbers growing by over 1% a day.

Craig Dawson, Head of Operations at MusicMagpie said: “Every day we see things on the news about the credit crunch getting worse and we think the service is a real winner. Unlike auction sites, users can get cash for as many of their old CD’s as they want without the hassle and cost of selling each individually.”

“Now we have completed the testing phase of www.musicmagpie.co.uk we will also be looking at how we can help UK consumers get cash for old DVD’s and games as well.”

The CD market is still buoyant, despite the ever-growing popularity of music downloads. 138 million CD albums and 86 million CD singles were sold in Britain in 2007, according to the British Phonographic Institute. These high-volume sales mean that millions of Britons could benefit from MusicMagpie’s cash for old CD’s service.

For full details of the service, visit MusicMagpie

Press contact: Priya Mistry, Context Public Relations, 01625 511966

This press release was distributed by ResponseSource Press Release Wire on behalf of Context PR in the following categories: Consumer Technology, Personal Finance, for more information visit https://pressreleasewire.responsesource.com/about.