Sell those valuables (think: jewelry, technology, and high-end accessories) before selling your home
As we said in the previous week’s article, not every item in your house will be right for resale. But you will likely have several pieces in your home that can be resold.
The key is finding the right stuff. Consider the items in your home that are rare or vintage or in perfect condition or barely used. Do these types of items have a cult following or a rabid group of collectors? Would they be considered memorabilia or notable in history? Are they designer?
Tips for selling items from your house full of stuff:
1. Compare the online auction sites based on their fees and audience.
With more than 165 million active users, eBay may seem like king of all online auction sites, but it is not your only option. There are numerous possibilities that cater to specific products and interests, such as sports memorabilia, art, autographs, movie props, or autographs.
Before you select an auction site, know what you are getting into. Consider all the fees involved (eBay’s listing fee is 30 cents per item as well as 10% of the sale price).
Check out sale prices for similar items, and know all the restrictions. Bonanza, which allows you to get your items on Google Shopping, and eBid are other options that are similar to eBay but with potentially lower selling fees.
2. Reach a larger pool of buyers on social media.
Facebook’s new Marketplace feature has been called the “eBay killer.” That’s because its popularity seems to reflect the ubiquity of Facebook on our lives. You are already using Facebook 41 minutes a day, might as well sell some stuff while you’re at it.
Being a social medium, Marketplace offers a more public form of selling. Be warned, there are safety issues that come with selling on Facebook, Nextdoor or Craigslist. However, if you take precautions, you can enjoy the convenience and have access to millions of people worldwide.
3. Find the right online marketplace or mall or app.
There are apps for selling wedding stuff and baby stuff and used wedding rings. There are apps for selling designer clothing and musical instruments and outdoor gear.
You can even sell old CDs and DVDs on Decluttr and old textbooks on Bookscouter. There are apps that specialize in a little bit of everything. Like LetGo, 5miles, Dealo, and SocialSell.
You can go with the old standbys (yes, we see you Craigslist) or try something specialized and new (oh, hello, Poshmark). Again, just make sure you know the fees, safety policies and details before you start selling.
4. Know the right places to sell your electronics.
One of the best ways to turn unwanted items into cash is by getting rid of old technology. Sites like Swappa and Gazelle specialize in helping people sell their old phones, tablets, cameras and computers.
Swappa allows you to create a listing for your item, gives you a suggested selling price and lets you post photos. Sellers do not pay fees, but they will need to pay any PayPal fees associated with the exchange.
Gazelle is a little different. You tell the site what you want to sell and they make you an offer. If you like what you see, you ship the item to Gazelle for free. It’s an easier process, but you’ll likely get less for your techie toys.
5. Go consignment to communicate with actual humans about your stuff.
Yes, there are places that are not on the internet (gasp!) that you must drive to and go inside. There, you will speak to actual people, like, face to face.
Each consignment shop or sale experience is different. You might be offered an upfront amount for your items, or the shop may take your stuff, give you an account number and then share the profits of any of your sold items at a later time.
The key is to find a store that specializes in what you have: From designer clothing and accessories to antique furniture to used sports gear, you can easily find a consignment shop that’s looking for what you have. No matter where you go, make sure you read the fine print and manage your expectations. They may hand you back a box of items they don’t want to sell, or they may offer you prices way short of your Antiques Roadshow dreams. Instead, be prepared ahead of time and know the value of your items, so you don’t lose out. Speaking of which…
6. Know the value of your stuff.
One of the most challenging aspects of selling your possessions is knowing how to price them. Sure, in your heart, your collection of 1950s boxing memorabilia is priceless. But in the real world, everything has a price tag.
Whether you are heading to the pawn shop or a consignment store or hosting a garage sale, you’ll need to know how much your stuff is worth. Check out resources like statricks.com or Beckett for your baseball cards or Worthpoint for your antiques. Or visit online auction sites to see what similar items are going for.
7. Weigh the pros and cons of hosting an old-fashioned yard sale.
Many a homeowner has pondered this exact question: Are garage sales worth it? Are they worth the effort? Some would definitely say no. Do a little cost-benefit comparison when you are deciding. Is the time, energy and effort worth the potential cashout? If you have some big items with potentially big payoffs, it might just be worth the work.
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