An old CD Rom drive can be a very useful source of some interesting components. One such component is a Hall sensor. These are 4 or 3 pin SMD components mounted right under the spindle motor. These help provide feedback to the motor driver so that it can drive the motor efficiently. This particular device has 4 pins, 2 for power and two provide a differential output. A simple differential amplifier can be used to amplify the small variation present at the output when teh device is in close proximity of a magnetic field. A simple circuit can be used to make the output a lot more useful to interface it with another circuit or perhaps a Microcontroller. I came up with the following:

 

A quick wire up on a breadboard :

And finally a video to see it in action: