CHRISTMAS is the season of goodwill, generosity and giving – but what do you do if you receive a present from a well-meaning friend that you know you won't use?
It's an awkward situation, but one we've all been in – and it seems a waste to keep something you won't use or wear.
The other controversial option is to bite the bullet and sell unwanted gifts – one person's junk is another person's treasure after all.
Here, Wethrift founder Nick Drew gives his tips on the most financially profitable ways of dealing with any unwanted Christmas gifts this festive season…
Consider the best platforms for selling different gifts
If you have a variety of different items you are looking to sell, the platform you choose to list them on could very well determine not only how much money you make, but also whether something even sells.
Many expectant and new mothers are likely to be using Facebook Marketplace in order to pick up some bargains whilst on maternity leave, so any baby or toddler items are always sure to sell well.
The platform is also ideal for any bulkier items that you want out of the home, as the majority of local buyers will be happy to collect in person and pay cash in hand.
For any unwanted Christmas clothing that you want to sell on, Depop – a hybrid of Instagram and eBay – is a great place to start to reach a huge audience of fashion lovers looking to add to their sustainably sourced wardrobes.
That being said, users of the app are very inclined to haggle on items they wish to purchase, and there is also a fee to pay for selling through the site.
With more than 187 million users worldwide, the mass appeal of eBay for selling unwanted Christmas gifts is easy to see.
Despite eBay charging sellers around 10 per cent transaction fees, or those attempting to sell items that may be considered more niche or collectible, this is the best bet for a lucrative return.
Most read in Fabulous
I'm a hairdresser and these are our nightmare situations you should know about
I worked in a passport office & these are the worst baby names I ever encountered
I take my Xmas decorations down at 11pm on Dec 25 – but there's a sweet reason
I’m a mum-of-1 & started drinking at 5am yesterday, people say it’s sad, I’m proud
Take into account seasonality and trends
It can be tempting to want to start selling off unwanted presents as soon as you can.
However, you might be better off holding on to or storing certain items until later on in the year in order to earn back their full potential.
Do you have items or an experience that might be the perfect Valentine’s Day or Easter gift for someone?
Or have you been given clothing that would be more likely to sell in the warmer months?
As well as the best time of the year, also consider when the best time of the month to sell your item might be.
The majority of people tend to get paid somewhere around the end of the month, so putting your unwanted items up for sale on around the 28th of the month could well garner more interest.
It’s also worth noting that each year retailers will flood their calendars with days when they reduce the cost of gift items, so be sure to swot up on these key dates to understand the best times to post online listings, and when they are best avoided!
Know how to ‘sell’ your items
It’s all well and good having some items you know you want to sell, but in order to make your offerings stand out amongst the countless others who will no doubt be doing the same come Boxing Day and beyond, it’s worth making sure your posts are as eye-catching, informative and as honest as possible.
Make sure you take clear pictures with a plain background in natural daylight of each item you want to sell, ideally still in its original packaging, and alongside any warranty or guarantee you have if applicable.
Be honest and go into detail about the item, and also about why you’ve decided to sell it – you already have one at home, your child has outgrown it already, there’s not enough space in your house to store it, for example.
This will help reassure any potential buyers that you’re making a legitimate sale and they can trust you as a reliable seller.
It’s also worth checking around to see if any online retailers are currently offering any promotions or deals on the item – it could be more lucrative to wait until it’s back at full price before attempting to sell it on.
Be wary of the pitfalls of secondhand selling
If you are relatively new to the concept of secondhand selling, it’s wise to educate yourself on some of the issues you may face.
Firstly, hagglers trying to reach the best possible deal are relentless, so if you aren’t willing to waste your time partaking in back and forth messages over reducing the cost of an item, be sure to state the exact amount you want in the initial ad and simply refuse to respond to anyone who doesn't respect that.
If you are selling an electrical item, be sure to detail whether or not you still have its accompanying warranty or guarantee, and state clearly to interested buyers what security these carry with them.
Finally, don’t underestimate the amount of work that often needs to be spent ensuring your unwanted items are given a fair chance of selling well.
Be sure to dedicate a sufficient amount of your time to photographing, drafting content and uploading items to various platforms in order to maximise your chances of profit.
Don’t ignore traditional methods of selling
Not everyone feels comfortable or secure buying items online, and any items that you may struggle to sell online could well be perfect for those who frequent car boot sales.
Some of the more popular items at car boot sales include clothing, accessories, children’s toys, shoes, jewellery and books.
Despite the majority of popular car boot sales taking place during the Spring and Summer months, the chance to head to a local event can be a great way to sell any unwanted items, earn some extra money, pick up some bargains yourself, and have a fun day out with your nearest and dearest.
Use common sense and sensitivity
While there is absolutely nothing wrong with wanting to avoid waste and make a financial profit from unwanted Christmas gifts, it’s important to remember that a family member or friend took the time to choose and purchase it for you.
If they see you attempting to sell their gift on social media, it may well come off as disrespectful or rude if you don’t pre-warn them of your intentions.
Explain to them why you are unable to keep the gift, and check if they feel comfortable with you selling it on.
Source: Read Full Article