10 Things To Sell If You Need Extra Money Amid Inflation
With the high cost of living these days, who couldn’t use extra cash?
When you look around your house or rummage through your closets, you undoubtedly will find things that certainly aren’t trash but could be someone else’s treasure. Why not consider selling them to pad your coffers?
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The unused items collecting dust in your home could be worth hundreds or thousands of dollars. People tend to underestimate the value of their belongings, but they are often happy to pay serious cash for rare or limited items, said Jacquie Denny, founder of Everything But The House, an online estate sale service.
However, even everyday items and childhood toys can find a buyer.
Whether you need money to pay bills or want to build your savings account, check around your house for these things you can sell to make some fast cash.
Brand-Name Clothing
If you’ve transitioned to working from home like many other Americans, those fancy dresses or business suits probably got shoved to the back of the closet. Instead of letting them gather moths, why not let them gather up some coins?
If you have some designer threads you don’t mind parting with, you could resell them for a pretty penny. Brick-and-mortar consignment stores are one option, but if you want to skip the in-store experience and maintain more control over pricing, your best bet is to sell used or very lightly worn clothes and shoes online through Poshmark or eBay.
If you don’t want to deal with the hassle of individually selling — and don’t mind making potentially less money — thredUP is an online resale site that allows you to send in clean, brand-name clothing and shoes in bulk, with the option to donate whatever they don’t take to resell.
Designer Shoes and Handbags
If you paid big bucks for designer shoes or a handbag that you now rarely use, you can also look to sell these items online. Frugal living expert Lauren Greutman said she has sold shoes through Poshmark for up to 50% of the retail price.
You can photograph the items you want to sell using the Poshmark app and list them instantly. Poshmark takes care of shipping costs by emailing you a prepaid label. For sales under $15, Poshmark charges a flat rate fee of $2.95. For sales above $15, the commission is 20% and you keep 80%. If you’re unsure of how to price the item, look online and see what similar items are going for. Consider that any flaws must be disclosed, or else you wind up in hot water with a buyer.
Jewelry
If you inherited a necklace that isn’t your style or have a ring from an ex you no longer want to look at, you might consider selling these pieces. Fine jewelry can be worth quite a lot, Denny said.
To ensure that you get the full value of your jewelry, consider having items appraised beforehand. You can find an appraiser near you through the American Society of Appraisers’ site, Appraisers.org.
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Laptops
Many households have $400 to $800 worth of cash in the form of unused laptop computers, said Michele Perry, a consumer tech expert at electronics resale site Gazelle.
Fortunately, sites such as Gazelle, ItsWorthMore.com and Decluttr make it easy to unload these unwanted laptops for cash. Remember to back up your device and then delete any information on it before sending it in.
Cellphones
Used cellphones are another tech item you can sell for cash — often even if damaged.
“Most devices still have value even if they are broken or damaged, as long as they are fully functional and just have a broken screen or need to replace a battery or button,” Perry said.
Even a fairly dated model, like the iPhone 11, can net as much as $100, according to 9to5Mac.
Gift Cards
According to a survey from CreditCards.com, 47% of Americans report having at least one unused gift card. In all, they total $21 billion. If you have gift cards you’re not planning to use, you can sell them to earn supplemental income on sites like CardCash and Raise.
The sites purchase gift cards for less than face value and then resell them at a discount.
Coins
Exploring the basement at your grandparents’ house might yield more than a treasure trove of photo albums, but the actual treasure of old and potentially valuable coins.
If your parents or grandparents brought collectible coins or active currency back from other countries, you should get them appraised by a professional coin collector.
Books
If you have books (including textbooks) that you don’t intend to read again — or never opened in the first place — you can turn them into cash by selling them online. Check to see if you have any first-edition books or books autographed by authors, Denny said, as these items could be good sources of hidden money.
Greutman recommended selling unwanted books on Amazon. Scan your books using the free Amazon Seller app, which illustrates their current value. List your books with the app and price them based on Amazon’s pricing suggestions, she said. Note: Amazon does take a service fee of 99 cents per item sold.You also can visit sites like AbeBooks and Biblio to see what your books might be worth — a must-do step with vintage and/or rare editions.
Collectible Dolls
If you inherited a collection of porcelain dolls from your grandmother, it might be time to dig them out of storage and put them on the market. In fact, according to Denny, people are willing to pay top dollar for collectible dolls.
Additionally, individuals who have old American Girl dolls might be sitting on cash cows. Recently, a rare 1986 Samantha American Girl, in mint condition, was listed on eBay for $5,995. Shoppers watching the auction numbered in the double digits.
Furniture
Make some extra cash by selling unwanted furniture occupying your garage, attic or storage unit space. Along with selling items in consignment stores, which offer owners a percentage of the final price, individuals can opt to advertise locally on Facebook Marketplace, Craigslist or OfferUp.
Budgets are Sexy blogger J. Money recommended, when selling an item, posting several pictures, providing all of the dimensions, using keywords such as brand names in your description and researching prices of similar items.
Additionally, make yourself available by email to respond to interested buyers.
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Jami Farkas, Nicole Spector and Laura Bogart contributed to the reporting for this article.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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