If you’re looking to save some money, pay off debt, or just put a little extra cash in your pocket, you don’t have to look far. You probably have a few hundred dollars just lying around your house! Well, maybe not in the form of cold hard cash, but it can turn into that if you know how to sell unwanted items. With the use of social media and resale apps, it’s easier than ever to make money quickly by selling your stuff. Here are a few ways to simplify this new year by selling your unwanted junk online and making some serious money!
Identify What to Sell
First of all, what can you sell? The first and easiest place to dig through is your closet. Take a look at your wardrobe and weigh out how often you wear each item. That one cute dress that you haven’t worn in four years? Yeah, it can probably go to a new home. Or maybe that blazer that’s just too tight? Sell it! Make a pile of clothes that are still in good condition that you can sell. As for the rest of the house, do you have an old gaming or tech system that could go to a new home? If you’re always up-to-date with the latest and greatest tech devices, someone would probably love to have your older iPhone that still works perfectly. If you have things lying around that barely get used and just collect dust, part ways and list them up for sale.
Where Should You Sell It?
Now that you’ve done the hard part of choosing which items to sell, you need to identify where to sell them. Poshmark is a useful website for used clothes, shoes, or accessories. The buyer always pays for shipping and Poshmark will send you a shipping label once the item has been purchased (which makes your hectic life way easier). Poshmark does take a small percentage of your earnings, but you can adjust your sale price accordingly to how much you want to make after their cut. Your money can be used either as credit on Poshmark or deposited directly into your bank account.
OfferUp and Letgo are ideal for items that you want to sell in your local area. These apps are particularly successful for furniture or other larger items that can’t be shipped easily. Once you sell an item, you can meet in a public location to pass off your goods to their new home and receive your payment in cash -- which is particularly beneficial if you live in a highly-populated area!
Ebay is another popular online site that has had a long history of successful sales. You can sell practically anything on Ebay if you are willing to ship it. Ebay also takes a small cut of your earnings though, so if you’re selling an item locally, you may want to consider OfferUp or Letgo as they do not take any of your earnings.
Decide on a Price
Online resale apps and websites tend to be very competitive with price. If you’re looking to get rid of something as soon as possible, research the going rate for a used item similar to yours and list it at a smaller price. You don’t have to undercut yourself too much, but even just a few dollars can convince someone into buying your item over another seller. If you’re okay with waiting a while for your sale to happen, you can choose a reasonable price even if it’s not the lowest online. Consider the condition of your item too. If it’s almost brand new, you don’t have to sell it for a dirt cheap price. If it’s been well-loved, don’t overprice it because that will just turn buyers off.
Clearly Title Your Item
One of the biggest mistakes that people can make when reselling items is that they don’t clearly list what they have. If you’ve got a nice pair of denim jeans that you want to sell, check out the brand label. Don’t list them as “never worn denim jeans”- that’s just boring and non-descriptive! If they have a brand name, be sure to list that and the size. A bonus for clothing item listings is to say how you feel it fits. If it’s a size small top that is really tight, maybe let the buyer know that it fits more like an extra-small. This will help your ratings on resale sites as you don’t want to mislead someone on what they’re buying.
Let People Negotiate
Many online resale apps allow the buyers to make you an offer instead of accepting your listed price. If you’re open to negotiations, definitely take advantage of this. If you have an item listed for $30 and someone offers you $25, consider counter-offering them $28. Two dollars less than your original price is better than not selling the item at all. Sometimes people will low ball you to try and take advantage, and you shouldn't feel bad about turning down their offer. However, negotiating can help keep the sale in your hands if someone is considering buying it.
No matter what you’re selling online, it’s important to look at app/website fees to see how much money you’ll really be making. If it’s suitable for you to sell on free apps, you will make a tidy chunk of change! Going through your belongings once every few months can put a sack of extra spending money in your pocket. Now go make some sales!
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