Garage sales have been going on for decades, and are a great way to clear out some unwanted and unused items from a home. In more recent times, this method of decluttering has managed to generate some income through the use of the net.
eBay arrived in 1995 and has been used ever since to buy and sell all manner of items and services.
Digital Commerce 360 reports that sales on eBay are in decline. However, the first quarter of the year still saw $2.48 billion in sales, proving that there is definitely life in the marketplace yet.
While many people set up shops on this site, others use different apps, and websites to sell their unloved belongings. So, could clearing out your closet result in you making a little money through one of these platforms, or in a similar manner?
Can you make money by having a clear-out?
The answer is almost certainly a yes. How much you make will depend on what you have around your home, and the term clearing out the closet shouldn’t be taken literally.
You can scour the basement, wardrobes, the attic, and even your jewelry box. Some items will obviously be worth more than others, and you will need to understand a few things, including how to price them.
How should you price your items?
If you decide to go through higher value items such as jewelry, you will inevitably end up asking 'how much is my diamond worth?'. This type of item is going to take more specialist knowledge.
If you have a diamond for sale then you may want to obtain an appraisal document. Alternatively, you could check out recent auctions for similar items.
Other items you find in your home could be compared against similar ones on auction sites. This way you can gain some insight into what sells well, and for how much.
Understanding where to sell your items
If you are thinking of selling some nice pieces, then you need to know everything about where to sell your jewelry. eBay is not going to be the best place for gold and diamonds. Jewelry should also not be sold through pawnshops as you will receive a low price.
For diamonds and the like, search online for specialist, reputable dealers. Gain quotations and compare these until you find one that you are happy with.
For other items look for the best online marketplaces. For electrical items, eBay and Amazon are both useful. For clothes, there are specialist dedicated apps. For antiques, you may want to approach either a shop specializing in this area or go to an auction.
What items can you sell to make money?
Do you want to make cash online? There are a few ways you can do this. One is to find online work, the other is to sell some items you don’t need. This last option takes a little effort, but the rewards can be worth it if you know what to sell.
Many people who sell in online auctions end up disappointed. This can be because their item wasn’t attracting enough attention and sold for less than expected. Reasons for this happening can simply be the market is saturated, you are selling at the wrong time of the year, or you are selling the wrong items.
Below are some of the items that sell well online
As previously mentioned, eBay is perhaps not the best place to sell jewelry. Nevertheless, there are other dealers and sites online that specialize in this area. You can approach these, or you can take your chances in an online auction.
If you choose to sell jewelry through an online auction then get some form of calculation first, and then set a reserve price so you will avoid disappointment.
Video and other games
board games in good condition and with all the pieces in place can sell well online. This is because some older ones have been discontinued, some are rare editions, and also because new board games can be expensive.
Alternatively, video games are a good option for selling. Retro and vintage video games have been selling well on eBay for years. And, occasionally something rare appears that needs a more specialist selling place.
The most costly video game ever sold went for $100,000 according to Business Insider. This was the classic Super Mario Bros but in an unopened test-market version.
While you are unlikely to come across anything so rare if you or your children once played video games you could have some classics and rarities in your attic.
Handbags and clothes
As long as they are in good condition, and desirable, clothes and other accessories such as handbags can sell very well online. There are now many apps that are dedicated to people selling their vintage items, or unworn garments.
Secondhand clothing used to be the domain of the charity shop, but now people have wised up there being money in those old threads.
Make sure you clean and understand what you are selling
Before you start taking photos and making listings of your items, take the time to check that they are in sellable condition. Clean where necessary, and present them in the best way possible.
If you are selling electronic gadgets or anything that isn’t clear, then take the time to understand what you are about to list. A good description really helps a seller towards realizing a successful sale.
Short listings with poor photos and goods that look like they haven’t been taken care of will never sell well.
Cleaning out your closet can result in a nice, tidy windfall. Not everyone will have a huge diamond to sell, but the attic might be harboring a few items that can make selling them lucrative.
Be mindful of the value of what you are selling, and choose your method wisely. Selling jewelry for instance is not the same as selling some old DVDs. More care is needed, and proper valuations should be gained. However, a little work could result in a nice little payout.
WRITTEN BYSerena K. Johnson