It is estimated that only half of the clothes in a wardrobe are worn regularly. Instead of letting unworn items gather dust, why not exchange them for cash in your bank account. This morning’s consumer expert Alice Beer looked at the many ways to make money from unwanted items.
Depop is a fashion shopping and selling app with over 21 million users.
The app is designed like Instagram – users upload photos of their item, add a caption with a description of what’s being sold, and choose a price.
Benefits – Sellers can also trade items with other sellers, and for new sellers, the process of uploading your items and making your first sale is very simple.
Cons – Depop charges 10% of each sale (plus PayPal fees).
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Vinted is an online clothing marketplace, with over 3 million users in the UK.
Sellers upload their items to the app, set their fees, and package the items when they are sold.
High-end brands such as Zara and Mango tend to sell the best.
According to Vinted chief executive Thomas Plantenga, sellers can earn an average of £150 a month from selling clothes.
Pros – The app is easy to navigate for new users, and sellers can create an account and list their items for free.
Sellers can also invite a friend to join and receive £5 when they list their first three items.
There is also an option to sell items in bulk.
Cons – Buyers have to pay a fee and sellers don’t immediately receive money from sales because Vinted holds the money for a few days to protect both buyer and seller.
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Preloved is a free classifieds site that allows you to list items for sale in your area.
Upload a photo and description of the item sold with an asking price.
On Preloved, users and customers can buy and sell for free, however, the site also offers membership tiers, which offer different benefits, such as being the first to see new preloved listings (£5 per year for full membership/£15 per year premium).
Pros – Great for selling clothes locally and completely free (no membership required).
Sellers can also list other items, as well as clothing.
There is also a section called “Freeloved” which features items that people give away for free.
Cons – Users who do not pay a subscription do not get all the benefits.
Click on the ‘Marketplace’ icon on Facebook and discover items for sale in the local community and list what needs to be sold.
Give the article a summary, along with a photo and price.
Also specify ‘collection’ or ‘delivery’ and wait for someone to make an offer.
Buyers can filter items by location, price, and category (so be as specific as possible), and then they’ll contact the seller directly.
Benefits – Selling locally means delivery costs are saved. The market is also completely free.
It’s also a simple and effective way to make money on clothes you no longer want.
Cons – Facebook Marketplace is unlikely to offer a great response for high-quality vintage or niche items.
How to Stay Safe While Selling Online
Password – where there are financial transactions, secure passwords are essential.
Postage – always use a trackable service – it’s not worth losing goods.
Don’t be personal – communicate only through the site channel and don’t make any arrangement that involves collection from your home.
Payments – Paypal is the safest way for buyers and sellers to exchange money.
Protect your server – make sure the wifi is safe from intruders.