Whilst you might think the only money you have is either in your bank or building society account or purse/wallet you might be pleasantly surprised to know there are other things around the house that you no longer need that could earn you a few extra pounds. If you need some extra cash quickly don’t use the companies offering you instant cash or pre-payday loans – the interest rates are so high you could end up paying double, if not more, leaving you in a worse situation than when you started.
Take a look around at your possessions. Do you still use, need or wear everything? If not then why not look at selling them for a bit of extra cash. Whilst you may not get anywhere near the amount you initially paid for them, you might get something and that’s better than nothing.
Do not forget Golden Rule No. 1 – only look at your possessions, not anyone else’s as that could amount to theft and leave you in very deep trouble dependant on whose belongings they are!
There are some second hand shops, particularly for clothes that will sell your items and give you money back on them. There is also the ever growing number of charity shops where you can donate your belongings, thereby contributing to a good cause.
If you have access to the Internet then why not take a look at sites like Preloved and EBay, still the most popular sites for selling your belongings. You will also find other online second hand stores in your area meaning you don’t have to pay for postage or travel too far to sell the items.
With most of these sites you have to take a few photos and write a good description of the items – make these as appealing as possible as this will help with your sale. Most sites offer you the opportunity to put a minimum price or state an “ONO” (stands for “or nearest offer”) price which gives the buyer an idea of how much you want for a particular item.
If you put your items on an online auction site you will see bids increase from a low starting price until the bidding stops, when the item is secured by a successful bidder. Once the sale has ended all you need to do is contact the buyer, agree the payment method and confirm, once you have received payment, that you will dispatch the item.
Golden rule No. 2 – do not post any items until you have received full payment and the funds have cleared into your account, unless you have agreed to accept cash from the buyer when they come to collect the item.
Golden Rule No. 3 – be careful the buyer does not try and do another deal when they come to collect the item. Do not feel pressurised or threatened. Stick to your guns and refer to the price you agreed and state that no further reduction is possible. You should also report any such behaviour to the online auction site you were using.
On EBay and Preloved as well as other similar sites, you can sell literally anything from general household items, to no longer needed baby or children’s toys, equipment for the house, garden furniture, personal items such a clothes, shoes, trainers and boots.
Children and baby clothes are very popular. Take a look on the sites to see what similar items are selling for to give you an idea of what you might expect to achieve. I am not a regular seller but in the past sold a cooker and a dishwasher, along with pots and pans, pictures, a cross trainer machine and other items, achieving good money for many of them.
If you have jewellery you no longer want or wear and is good quality gold, silver or platinum or contains precious stones, take a look at the Cash for Gold websites or visit one of the stands which often pop up in shopping centres for an idea on how much you can get for selling them. Alternatively, try second hand jewellery shops as they too will often buy jewellery for melt down.
Unfortunately costume jewellery doesn’t have a good 2nd hand value so online sites such as EBay will be the best place to sell them on. If you have any really old jewellery which could be antique take it to an antique store for advice.
Golden Rule No.4 – whether visiting a second hand jewellery shop or Antique shop, make sure you visit more than one for quotations on values to make sure you are getting the best price.
Another top tip is to do a bit of research before you go, so it looks like you know what you are talking about and also so that you have an idea of what to expect. Try an online site such as Compare The Price of Gold – you put in the amount of gold in grams, by carat and it will calculate the potential value, by retail outlet or online buying site. You will then have an idea of the per gram value of second hand gold before you visit the second hand shop or antique shop in your local town. You may need to bluff a little to get the price up to nearer your expectations. If you are not happy with what they offer then walk away – there will always be someone else who will buy at the right price.
If none of these options are suitable for the items you are trying to sell, then look at doing a garage sale or jumble sale in your front garden, or go along to a local Car Boot Sale and pay for a pitch. If you have children, get them involved. They will love being involved and will start understanding the value of money at an early age. It makes a fun day for all the family, you could even sell home made cakes or home grown plants as a side line.
No matter how little you think you own there is always something you haven’t thought of but please do not sell everything apart from the clothes on your back unless you really have to! Steer away from money-lending companies. If you really are in dire straights visit your local bank or building society to see if they can help draw up a budget plan to help you manage your finances or speak to someone at the Citizens Advice Bureau, don’t whatever you do stick your head in the sand and think the situation will get better on its own.