How to make money on your closet clear-out
While it may seem natural enough to donate your unwanted belongings to a charity shop after a closet clear-out, you may be surprised how valuable those piles of clothes can be. If you find the right market for your unwanted attire you can make quite a pretty penny.
Here are the best places to sell your unwanted stuff.:
Clothes may not be a particularly good investment, but that doesn’t mean they’re worthless once they’ve been worn. You can still make a few bucks selling higher-end items through specialist websites. These sites include Vestaire Collective and Covetique.
You may think that unless you’re out to sell super-high-end clothes you’re out of luck. That isn’t the case, says Vestaire Collective co-founder Fanny Moizant. Mid-range brands like Sandro and Whistles are some of the most popular on the site.
She explains: “We have a huge range of product on the site which spans everything from premium high street to luxury designer. We deal with anything between £35 and £40,000.”
Space and money are the two main motivations of her sellers, she says. “All women need a wardrobe clear-out once in a while to make room for new pieces. They can see the value of the items they no longer wear and look to recoup some of the original value. It helps fund their next purchase.”
If you’re selling something with a strong collector base, websites like Ebay and Etsy might be the perfect places for you. A strong vintage clothing market thrives on crafty Etsy, while Ebay has long been known as a collector’s dream.
Aidan Robinson, who works in the London music industry, has used Ebay to buy and sell rare records for years. He says: “I generally find that you get a fairer price than you would get at the exchange stores, where you often get a raw deal. The resurgence of vinyl in recent years means there’s a huge market, and Ebayers are always hungry for obscure finds.”
According to Robinson the selling process is generally smooth and more user friendly than it used to be.
He says: “Whether you’re buying or selling obscure vinyl, taxidermy or antique perfume bottles there will always be a market.”
In every clear-out there will be a fair share of clutter. Items like this are often best sold at a car boot sale.
Ellie Thomason, who works in marketing, made £50 one weekend at a car boot sale in East Sussex. She says: “You get some pretty serious car boot sale goers who arrive before sunrise and rifle through your boot before you’ve even unloaded.”
Journalist Emily Gosling has been to the Princess May School’s car boot fair in east London several times. Her earnings vary week by week; she’s earned everything from 50p to £50.
She says: “Some people make a lot of money. It’s kind of like a car park where all the most bonkers people in [the London borough of Hackney] congregate and argue over the price of a broken Monopoly set.”