- Personal Finance»
- Frugal Living
Need Extra Money? Start With What You Have Lying Around Your Home
You Are Sitting on a Gold Mine!
Believe it or not, you could have hundreds of dollars of cash sitting around your home in the form of merchandise that could be sold. The trick is to know where to sell it to get top dollar. Not all avenues produce the same results, believe it or not.
To get things started, I have a hierarchy I use to judge how to price merchandise and what I can expect. The more dollar signs ($) the more you can hope to sell you items for.
- garage sales $
- consignment shops $
- craigslist $$
- ebay classifides $$
- amazon $$
- children's consignment sales $$
- ebay $$$
The Selling Venue Determines What You Sell
When selling your personal items, it's crucial to know what sells the best and where. Whether it's garage or children's consignment sales, knowing your customer is important not only in what you put in these sales, but also in how you price them. Here's a breakdown of what people are looking for:
- garage sales: CHEAP toys, books, household items, seasonal items, jewelry, power tools, new and unopened items, furniture, antiques.
- craigslist: just about anything but be prepared to list often, like every other day. Prices are mediocre and you have to deal with the seller personally.
- ebay classifieds: a step up from craigslist because it's presentation is much better. Again, you can sell just about anything but you still have to deal with a seller.
- amazon: the greatest place to sell books of all kinds and get top dollar. Most books aren't worth very much but every once in a while you get one that is. Plus, amazon opens you up to an international market. You can also sell new products for a set price. I love having minimal contact with the sellar because this makes for easy transactions.
- consignment shops: places like Plato's Closet give nominal amounts for brand name clothing. Some places give you 50% only when the item sells.
- children's consignment sales: my favorite place to sell everything my kids are done with. From clothing to shoes, to furniture to bedding, toys, strollers, books, DVDs and more. Here you can control how much of the profit you share because fees range from 10%-30% so check around. Also, name brands sell and condition matters.
- ebay: my absolutely favorite place to sell brand name and hard-to-find items! Here you can sell used high-end purses and lightly worn designer clothes. Every once in awhile I'll find some item I can buy retail and resell for a profit on ebay. You can sell memorabilia, antiques, household items and more! Look around your home. It's a great place to "re-gift" those items you know you'll never lose. And if you ever find Jesus or the Blessed Mary in your pancake or grilled cheese sandwich--SELL! Only accept payment through paypal. It's the safest way to ensure a seamless transaction.