Have you ever considered selling old stuff to make extra cash? Do you have any boxes at the back of your closet that you haven't looked at for at least a year? Do you have things that you've only used once or twice? Any unwanted gifts? Are you always looking for new storage spaces? Well if any of the answers is yes, then it’s about time you considered selling off some of your old stuff.
Letting your possessions go might seem like a daunting task to you even if you know you'll never use them. It's hard to let go of things that are emotionally attached to you. But if you can think about how other people can benefit by actually using your old stuff, it might encourage you to decide to sell.
Did You Know?
- Consumer Interest: Approximately 62% of consumers report buying or selling second-hand items in the past year.
- Environmental Impact: 77% of consumers say sustainability is a factor when deciding where and what to purchase online.
- Top-Selling Categories: Clothing, electronics, and furniture are among the top-selling categories for used goods.
- Customer Reviews: Products with positive reviews are 270% more likely to be sold than those without reviews.
- Local Marketplace Growth: Local online marketplaces have seen a 50% increase in listings and sales since the beginning of 2020.
Use Online To Sell
Selling something to someone face to face can be a stressful experience. Have you ever sold anything at a flea market/boot fair/car boot sale? Where every passer-by tries to negotiate with you.
- You display the lowest possible price, say a $5 tag on a handbag.
- They say "Can you make it 3 Dollars?" You reluctantly agree.
- They take the money out of the pocket and said "Oh, I only have $2.50."
You can say No to that. But where everybody's a hard negotiator, you might as well get rid of as much stuff and get some money than not selling it.
It can be an embarrassing experience too. Have you ever sold anything to a second-hand store or any kind of buyer agent? Some of them make you feel you've done something wrong when they give you a dirty look as if to say, "We're not looking for that kind of trash".
If you sell them online, you'll be involved with the least amount of negotiation, and you won't have to have a face-to-face conversation. That's a plus. Also, a lot of marketplace websites (shown later on in this post) will provide a dispatch sticker to print out, etc.
Some of them even offer a door-to-door delivery service (the courier will come and pick up your parcel). These are the reasons why selling old stuff online is one of the best ways for you to clear up and make extra cash.
Get Your Closet Cleaned
The first thing that you should consider doing is cleaning up your closet completely. Make a clean space on the floor if you can, or use your bed, where you can put all the things. Remove everything from the closet and make 3 or possibly 4 piles;
- A pile of stuff that you want to sell.
- Another pile of stuff that you want to keep and,
- The last pile of stuff that you should all together just throw away.
- Additionally, you can make the 4th pile and set aside things that you think you would want to donate to a charity or give to your friends.
Not only will you clean and declutter your closet, but you might also find some of those things that you thought you had lost forever. The best thing to do is clean one closet, cabinet, or room at a single time, and split everything into heaps.
Then you put each heap into a box or plastic sack. The boxes or sacks should be ideally transparent so that you remember what is where. Also, make sure that you have a tag on each of the boxes/sacks so that you don't accidentally throw away stuff that you were planning to keep.
Did You Know?
- Rise of Resale Apps: Apps dedicated to selling used goods have seen a 150% growth in listings over the past two years.
- Decluttering Trend: 82% of people say buying and selling second-hand helps reduce clutter.
- Economic Benefits: Consumers saved around $28 billion by buying used items instead of new in a single year.
- Price Reductions: Used items are sold at an average of 50% off the original retail price.
- Fast Fashion Impact: 40% of online second-hand sales are in the clothing category, driven by concerns over fast fashion's environmental impact.
Sellable or Garbage?
It can be hard for you to determine whether something you're trying to get rid of is worth selling or just garbage. But have you ever taken some old clothes to a charity shop and been refused to accept?
"A distress t-shirt... Definitely sellable. Why does it stink? Because I've never washed it. But I don't want to rip it by washing it...then it'll be garbage."
Do you know generally, many charity shops suffer because their backrooms are full of old, dirty clothes that people keep dumping at the doorstep in the name of a "donation"? These clothing items are nothing more than unsellable scraps. The charity groups cannot make money with them but in fact, they'd have to pay to get rid of them.
Especially with a clothing item, if it's stained or looking tired, you should throw it away. Old ripped jeans - there are some demands, only if they are brand jeans such as Levi's, D&G, Armani, etc.
Other items other than clothing similarly, unless it's no longer obtainable and considered rare and unique, stained, cracked, or dull-looking old stuff should go straight into the trash can. Old magazines and newspapers can be extremely valuable whatever the conditions they are in. Again you may want to google and check the market value.
With all that said, you will be surprised at the number of things you can sell on some sites (listed below), so check as many sites and get a good idea.
Make An "Undetermined" Box
You might find yourself undetermined with some of the things. For example, a pair of shoes that you "kind of" like but you haven't worn for years. Put them in an extra box called "undetermined". This box should be cleared (emptied!) at some point very shortly. In 3 months, if you still haven't worn these shoes, it's time for you to be determined to sell them.
Did You Know?
- Generation Z and Millennials: These groups are 2.5 times more likely to shop second-hand than other age groups.
- Seasonal Trends: Post-holiday periods see a 25% increase in listings as people look to declutter.
- Online Auctions: Items sold through online auction formats sell 30% faster than fixed-price listings.
- Payment Security: 60% of buyers consider secure payment options a critical factor when purchasing used items online.
- Shipping Options: Offering free shipping increases the likelihood of a sale by 30%.
- Return Policies: Listings with clear return policies see a 20% increase in sales compared to those without.
Find Where You Want to Sell
You need to do a little bit of market research to match several marketplace sites/apps against each item that you intend to sell. The following sites are some of the most popular marketplaces.
Look for similar things that you are planning on listing and look for the prices at which the people are selling them. This will give you a rough estimate of what you should ask for depending on the condition of your goods. For instance, if you have clothing that's a designer brand, Poshmark can be the best place.
Signing up with any of these marketplaces is free, and there is no listing fee either. Only when something's sold, a percentage of the selling price will be deducted before you receive your money, usually via PayPal.
Related Post: How To Make Money with a Smartphone
What can you sell?
Anything that's in your house can be considered selling, but as I explained above, what you think is valuable may be something that's considered useless by the general public, and vice versa.
Clothes
A clothing range might be the easiest to consider but not necessarily the easiest when it comes to the actual selling point. Because the world's fashion market is saturated, people only pay good money for something that's really worthwhile. Also, the size should be clearly stated, otherwise it can be troublesome.
Toys
You will be surprised at the number of people who buy used toys online. As we all know, brand-new toys from shops are expensive and kids grow out of them extremely quickly. Nevertheless, you should understand that there is a difference between toys and collectibles. Do not accidentally throw a collectible item along with numerous toys for children. That will be a huge loss if you do so. Once again, you might want to check the value by googling it.
Household Appliances
Kitchen appliances such as microwaves, blenders, coffee machines, and some home appliances like vacuum cleaners, room radiators, humidifiers, and other such things can be sold too. However, it can be tricky for some of us to learn what kind of information should be listed (make, model, power, etc). Because when we (some of us) buy electrical goods, we just buy for the conveniences and design, often without checking output power consumption, voltage, and watts... the actual vital information that others require!
Large Items
Large items such as bed frames and sofas can be sold online too. eBay for example, allows you to choose a "local collection only" as a delivery option. And people do travel in a truck to your doorstep. It will save you from the fuss of packing and delivery arrangements. Also, the buyer pays online in advance, so they will be unlikely to waste your time by not turning up.
Selling Old Stuff Online To Make Extra Cash
The idea of selling unwanted items can seem like a job to do in the beginning to you, but do it periodically and you'll soon get used to the routine. Just treat it as your monthly or bi-monthly clear-out regime. Your house will be maintained, it will make you feel good, and it's a great option for you to make some extra money online.
Mami is a multi-lingual freelancer and counseling psychologist by day, digital marketer by night, based in Tokyo. She contributes motivational quote posters to CyberCash Worldwide regularly.
Author // Mami Yamashita
