How to Make Money Out of Your Closet
If you are feeling strapped for cash, you may find that you are sitting on a little gold mine in the contents of your closet. Moving some of these items on may not be as painful as you expect, especially when the profits are going toward something that you really want, such as a vacation, more clothing, or that irresistible pair of shoes.
However, before you jump on to eBay or social media marketplaces, you will have to access what you have to ensure that you are not wasting your time.
#1 Be honest about the quality
Have a close look at the garments that you are considering selling. They will have to have plenty of wear left in them and have no damage, marks, or stains. Items with any of these are not worth selling, so you may as well cut them up for rags or chuck them in the trash.
For the items to look as good as new when you are taking the photos, you may have to wash them and give them a bit of an iron. The equation usually boils down to this – the better they look, the more money you will be able to get for them.
#2 Only certain labels are worth selling separately
Although you could say that most clothing is worth selling, by the time you have taken out listing fees (which are taken out when a product sells on sites such as eBay) and postage costs, you could either find yourself breaking even or not making any money out of the sale.
This is why only certain labels are worth selling separately, mainly because they are highly desirable and have a reputation for quality, so you can get a much higher price for them. So, with this in mind, you must do your research into which labels you have and how much they sell for.
#3 Dealing with other labels
Of course, this is not to say that all other labels should be thrown away as worthless; you can still make money from the lesser desirable labels by either grouping them, putting them with one desirable brand, or combining them to make a complete outfit for someone.
Of course, grouping multiple outfits will inevitably sell for more than just one, especially if you opt for a ‘buy it now’ style of selling over an auction and mark that you are happy to sell internationally. This is important as you will find that many people do not necessarily have access to the clothing available in your country, regardless of how desirable they find it. Opening up this avenue could find that you are shipping your items all over the world.
Undoubtedly, this will increase the postage costs, and you will want to make sure that you have a reliable shipping source to provide the best customer experience that you can. Using dedicated international shipping companies will ensure that you are doing your best to get your items to their destinations on time and in excellent condition.
Final thoughts
So, although it is not as easy as starting to sell your unwanted clothing straight away, it is far from difficult. If you happen to be the sort of person that has rail after rail of scarcely worn outfits or, for that matter, boxes of shoes, you will soon find that you are sitting on plenty of money and additional room in your wardrobe to refill.