Tired of a basement full of old family heirlooms no one wants or a garage filled with unique or in-demand toys the kids have outgrown? In a pandemic, garage sales have shifted from a neighborhood event to the global market.
The pandemic has meant even more people are staying at home and shopping online or are trying to save or generate income during a downturn in employment. We’ve taken a look at three top resale sights that – if you’ve got the goods – could bring you cash!
Twenty-five years ago (Has it been that long?) eBay paved the way and remains the second largest online-auction platform for resale. Where else can you find a pair of platform shoes your mother wore in the 1970’s along with that missing piece to the Nativity set your sister-in-law gave you five years ago?
Just think: if you want it, someone had it; and the reverse is true, what you have, someone else just might want.
From puzzles to exercise equipment, computer accessories to mobile phones, sneakers to watches, you’ll probably find it on eBay. Most importantly, the site organizes its goods into collectibles/art, electronics, fashion, home/garden, auto parts, musical instruments, sporting gear, toys, dolls, and hobbies and other categories like books, video games and health and beauty. Pricing, rarity, credible authentication, and the item’s condition are all keys to successful listings.
eBay is ideal for items you can’t or won’t sell locally, and its bidding function makes the price of your item visible to an audience that is national or even global. However, there are listing fees, shipping costs, and difficulty in selling large items. Still, even Ferrari’s have been known to move on eBay!
Learn how to get started here.
Ebay is not the only option. Experts suggest Craigslist as a good alternative because it’s free and ideal for selling items locally. And, there are fewer shipping hassles, especially when selling large items. Craigslist’s drawbacks include the possibility of putting up with buyers who lowball an offer, don’t show up, or even require you to drive and meet them to complete the transaction. Also, there’s no policy for returns.
Learn more here.
Another option for local deals is Facebook Marketplace. Here you can also post and browse items to either sell or buy. There is no listing fee. People are looking for deals here, so make sure you’ve priced accordingly. Some of the most popular items include used and old and refurbished furniture, unique and high-ticket and character toys, sets of maternity clothes, custom-built items, and office furniture like storage cabinets.
A Word to the Wise
Be aware that not everyone on Craigslist or Facebook uses their legal name or a legitimate profile picture. Always make sure you meet your potential buyer safely. It’s also worth noting that, unlike on eBay and Amazon (which mostly deals with new products), neither Craigslist nor Facebook Marketplace charge listing fees or taxes, but there are also no formal return policies.
Back to school and returning to the office means purging closets for fresh new wardrobes. If you have designer clothes to resell or are in the market for consignment, online thrift sites may be the answer to buy or sell. Learn more in part 2 our COVID cash crunch series, “Rags to Riches.”
This article is for informational purposes only, you should not construe any information provided as legal, tax, investment, or financial advice. No reader should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence.
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