Most of use have not only have a closet full of things we no longer use, want, or need. Sometimes we even have more than just a closet (i.e. attic, garage, basement, kitchen, etc.) So why not sell them to someone else who actually could find a use for them? Those shoes/clothes that no longer fit you could be worth $20 or $30 to someone else. You might have old baby clothes or kid’s toys that your kids outgrew, but someone out there may find use for them. Those old video games that you don’t play anymore could keep someone else entertained for hours.
I know what you’re thinking, “I doubt I can get that much money for my old stuff.” You may be right, but you’d make more money by selling it for a few bucks than by letting it collect dust in your home. Who knows, you may find dozens of old items you can potentially sell. Just think if you could even sell 10 of your things for an average of just $10. I bet an extra $100 in your pocket for just an hour or two of work sounds pretty good, am I right?
I want to show you how I was able to make over $1,000 in just one month selling my old stuff on websites like Ebay, Craigslist, and even more that you might have not even heard of.
Step 1: Going Through Your Stuff
Start by making a list of everything you don’t use or need anymore. A good rule here is to think if you’ve used this within the last 6 months because if you haven’t, then there’s a good chance you won’t use it again. I know it can be a little difficult to get rid of your stuff especially if you have to sell for much less than you paid for. But, like me, if you really don’t have a use for it anymore, then you won’t miss it once it’s gone.
Step 2: Finding Your Items Worth
I like to start by checking what my item would be worth brand new. This can be done by simply using Google or online stores like Walmart depending on your item. Next, try to get a ballpark idea of what your item is worth used (& depending on the item’s condition.) A great way to do this is by searching for the same or similar items on Craigslist or on Ebay. If you use Ebay be sure and check the box “Sold Listings” under the “Show Only” section to see what the items have actually sold for not for what people are pricing them at. Remember: An item is only worth what people are willing to pay for it.
Step 3: Listing Your Item For Sale
Before I get in to where you should list your item I want to cover the best ways to list your items. Let me start by saying that very very rarely will you ever sell an item for your original asking price or without any type of negotiation. So once you have your bottom dollar asking price in mind set your listing price a little bit higher to give yourself some room for the inevitable negotiation.
I like to state my asking price and adding OBO (or best offer) in my listings that way the potential buyer feels like they are paying what they want to pay not what they are told to pay.
Putting your item up for auction on Ebay is another great way to sell your stuff. If you just want to sell the item and not concerned with price, then I’d recommend starting your auction price for $.99 (Ebay also gives suggestions on what price to start your auction if you don’t want to go the $.99 route.)
Once you decide on price and selling format you’ll need to make your listing attractive to help potential buyers find and to choose your item. This can be in a few ways.
- Photos- You want to post at least 3 good quality photos of the item from different angles. Buyers want to make sure your photos match the description, and also that the item was kept in a decent environment.
- Title- You want your title to tell EXACTLY what you are selling. Be descriptive. If you are selling an old pair of Jordan shoes don’t just put ‘Jordan Shoes’. Not only does this decrease your chance of someone looking at your listing, it also dramatically decreases your chances of having your listing found in a search. Someone may not be directly searching for Jordan shoes and just looking for Men’s Athletic Sneakers. Your listing will not pop up because your listing didn’t have any of the words being searched for. A better title for your listing would be “Men’s Red and White Athletic Jordan Shoes Size 11”. This makes it easier to get your item seen.
- Description- All of the same rules apply here as they do for the title. Be descriptive. You want everyone to know everything about your item. Size, color, model, and most importantly the condition. When writing my descriptions I do a role reversal. I think of how I what I would want to know if I were interested in buying my item or any questions I would have, then I would insert that in the description.
Step 4: Where To List Your Item
Now that you know how to effectively list your stuff for sale I bet you’re wondering which website you should choose to sell on. My response would be…ALL OF THEM! Yes, and I mean every. single. one. The reason for this is that each different site has its own customer base and different ways of getting your things discovered. Also, the smaller sites with less traffic (less users) have less competition. The more people that see your listing the better chance you’ll have to sell and make some money. Yes this does require extra work, but like I said, it will be worth it if you can make a few hundred bucks for a few hours of work. I’ll start with the most popular ones.
- Craigslist- When people are looking to buy something used this is usually where they turn. I always start here because it is so easy to list an item and the large amount of people that use it. I also enjoy being able to click one ‘Renew’ on an old listing after a few days to put my listing back at the top of the page. Remember: When meeting with a buyer/seller be sure to meet in a well populated area and bring a friend if you can. Similar alternatives would be Backpage, Oodle, Recycler, and Hoobly.
- Ebay- In the first quarter of 2016 the site reached 162 million active users. That number of potential buyers alone is enough to persuade one to list here. However, Ebay is not without it’s downside. The only way to get paid on Ebay is through PayPal. For every item you sell, PayPal takes a 3% fee on the total amount charged (including shipping and taxes). If you decide to sell on Ebay you will also have to consider shipping costs. You can make the buyers pay for shipping, but that also decreases the chance of finding a buyer. “Free Shipping” is a great way to attract buyers. I always offer this and just insert the shipping fee into my asking price. On top of all of this, Ebay charges 10% of all sales over a months period. You won’t have to pay this fee upfront. You will receive an invoice after your period is up. So if you sell $200 worth of stuff at the beginning of the month, then you will automatically have $20 out of your account at the end of the month or beginning of the next month.
- OfferUp- is a big (if not the biggest) digital marketplace for locals that there is. Think of it as a virtual flea market. It’s extremely easy to use. All you do is snap some photos of your item, add a title and description, set your prices, and check yes or no under the “Firm On Price” box then wait for your buyers to pour in. A very similar alternative is LetGo. I’ve had huge success on both.
- “Things For Sale” Facebook Pages- Chances are that there are already is a “Things For Sale In Your Area” Facebook page (if not, start one). On this pages you simply upload a photo of your item and post on the wall of the page with your description and price. If someone is interested, they comment or message you. Once you agree on terms you can meetup for the exchange.
- Let Someone Else Sell Your Stuff- We are all busy, and sometimes can barely find time to think. If going through all of this work just doesn’t seem attainable for you, then find someone to sell your things for you. Typically, these people are more experienced at selling and only charge a percentage of the final sale price. That way you don’t pay unless your item sells and you make money. This is a great technique if you just want to get rid of your stuff to make a bit of money with minimal work required. If this interests you, then shoot me an email at cameron@lifedomination.com and I will help you sell your stuff like I did with mine.
I hope you’ve found this article useful and can make some extra money to take your partner out or go on that vacation you’ve been wanting to go on. If there is anything you still aren’t sure about or have any questions feel free to email me or leave a comment. Thanks for reading.
-CT
