Josh Elledge - CEO, UpMyInfluence
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You Can Make More Cash When You Spring Clean in Winter
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The conventional wisdom and tendency is to hibernate in winter and wait for better weather before clearing out closets and clutter. But by tackling such jobs in winter, not only will it give you a project with tangible motivation, you can make more cash when you spring clean in winter.
Why is now a good time to clear out your clutter and put it up for sale?
- Because fewer people do this. That means less goods are competing against your items for buyer’s money.
- Most people are currently “shopped out” from the holidays but that will change over the next few weeks as February rolls around. Now is the perfect time to go through your home and garage and find useful and valuable items that are worth preparing for sale.
- If you have the right type of items, you’ll have buyers looking for Valentine’s Day gifts that aren’t chocolates or flowers. Items such as books, home decor, antiques, furniture, and high-quality clothing come to mind as possibilities.
- Shops that specialize in second-hand items and antiques are typically looking for new inventory. If the shop is busy and makes frequent sales, their inventory should be down following the holidays.
Where should you look to make the most on your items in winter?
Obviously, a standard yard sale isn’t going to work this time of year in most regions. However, there are several other selling options and which one you choose depends on what you have to sell and how much work you want to do yourself.
For many things, you can make more money doing the work yourself but you should weigh the pros and cons. Here are some things to consider when deciding:
Is the item rare or valuable?
If so, you may want to consider getting an appraiser or even an auction house involved. Expert advice can make you a lot more money in the end. However, before hiring, do some basic research on the web yourself. If, after your research, you’re fairly certain the item is worth several hundred dollars (minimum), consider getting an expert involved. You’re likely to net more than “going it alone” and guessing at the value. Furthermore, appraisers (and especially auction houses) have buyer contacts that can bring your item and the right person together. Just be aware that you’ll lose money in fees. Understand the calculations up front before agreeing to any help to sell your item. Also, be aware of any tax liability that can come from valuable items. The tax code views it as capital gains. Always get the advice of a tax professional.
Is the item easy to ship?
If so, you may want to consider an online sales site like Amazon or eBay. Getting your item in front of a lot of buyers will help it sell more quickly and often for more money. If you’re new to selling, be sure to thoroughly learn the rules and the fees associated with selling via online platforms. You’ll also need to have shipping materials on hand to ship quickly once someone buys. When it comes to listing your item, don’t forget to calculate shipping accurately. Plus, you’ll have money in shipping supplies.
Do you have a lot of common items like clothing, books and toys?
If so, you may want to consider a consignment shop or a local online yard sale like those run as Facebook groups. There are pros and cons to both options. Consignment shops often can sell items more quickly and for more money than you might on your own. (Plus, it’s little work for you.) However, they will charge up to 60% of the sale price for your items as their cut. On the other hand, online yard sales can be a fast way to sell if you get the right person, and, of course, you keep all the money. However, meeting up with people and/or back-and-forth to communicate can take a lot of time and cost you in gas.
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