We've seen plenty of sites that give cash for old gadgets, especially in the mobile phone space. iTradeIt follows a similar model, but with a twist: rather than getting cash, you get an Officeworks gift card.
iTradeIt largely works likes its rivals, allowing you to search for an item, enter condition details and receive a quote. Two features to note: you can only trade in working gadgets, and you have to go to an actual Australia Post outlet (and take along ID) to send the item.
As Nick at Gizmodo notes, this might not be the best way to maximise the cash return on your gadgets: the $444 price for an iPhone 4 is well below what other sites offer, and considerably below what you might achieve on eBay.