If you’ve been avoiding a full-scale closet clean-out, here’s some extra motivation — you might be sitting on a gold mine of unused stuff.
Money saving expert Andrea Woroch provided the following tips to de-clutter your closet and make some money in the process.
Taking the Leap: Where to Start
Check around to see how similar items are priced and get an idea of whether it’s going to be worth the work. eBay is a good place to start for more expensive items.
“If you’re only going to make 5 or 10 dollars on that clothing item, for you to post it online, wait for the auction to be over, and then go to the post office to ship it, that’s not really a good use of your time,” said Woroch.
Facebook Marketplace might be a good place to post cheaper items, Woroch said. The feature allows users to list items through their networks of friends.
“I think this is a really great option for kids’ clothing,” said Woroch. “Plus, the social aspect makes you feel comfortable with who you’re dealing with.”
Bundle to Boost Your Selling Power
Similar items might sell better if they’re bundled together. For example, three women’s workout tops would be best to sell in one listing to attract more buyers. Just make sure your listing’s title reflects what you’re offering.
Can’t Someone Else Do It?
Yes, there are services and sites that can do the work. For example, thredup will send users a clean-up bag that they fill with clothing and ship it back to thredup. They’ll do the posting for you.
Or, just use a local re-sale shop and get cash on the spot.
“We decide what we’re going to take based off of the condition of the item, the quality, the brand comes into factor when we’re picking a price for it,” said Kris Kralova, of Buffalo Exchange in Santa Monica.
No need to worry about the season. If it’s a good piece, Kralova said they’ll take it year-round.
“They can expect to get 50 percent store credit or 30 percent cash of the prices we place on their items,” she said.
Don’t get hung up on that, Woroch said. You’re still making more money than when those clothes were sitting in the closet.
When to Throw a Garage Sale
If you have a bunch of items that may not sell for much on their own and aren’t worth going to the trouble to list online, consider a garage sale. Volume is the key component here, so you’re going to want to gather as much of your old things as you can and price them for under $5 to $10 per piece. Then, be willing to negotiate.
Donate to Charity
If you donate, make sure you get a receipt for your items so you can get a tax write off at the end of the year. If you need help deciding what to donate, take all the hangers in your closet and hang the items backwards. As you wear things, turn the hangers back to normal when you re-hang. After six months, anything that is still hanging backwards is something you’re not wearing and can likely be donated.