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As the economic situation has worsened over the last decade and the cost of living has risen, Brits have been forced into becoming increasingly thrifty. Pressure has also been piled on by the fact that wages have barely risen, while others might have found themselves out of work as some of the biggest brands in the UK have collapsed, including the likes of Comet, Jessops and Woolworths. While some people might have cut back on their spending, others have tried to raise money by selling items second hand. Rather than seeing things go to waste or throwing them out, the opportunity of raising much needed funds is proving very popular - one only has to look at the growing numbers of people attending car boot sales, along with the success of online stores like eBay. Becoming a seller of second hand goods might not keep you away from the perils of bankruptcy, but it can only be a good thing for your financial situation as you recoup some of the outgoings that you have accrued. So, what are the options available when it comes to making money from your previous purchases?

How to make money selling second hand


eBay

eBay is the world's largest online auction site and has become the go-to website when people want to buy, or sell, new and used items. You can purchase almost anything through the site and this means that where one person has a desire to buy, sellers might just be in luck. With Brits either throwing away or simply leaving gadgets, musical instruments, record collections or artwork to collect dust in the loft, eBay is becoming a viable alternative while also being a money-spinner as well. By setting a Buy It Now reserve price, sellers can ensure that their throwaways fetch a sum of money that they are happy with. After all, you would not want a rare record collection to be snapped up for a bargain just because only one person bid on it. This means that if the reserve is not met then you will not have to sell your goods, but if your requested sum is reached, you will walk away happy from the deal. Since eBay started up many people have begun to use the site on a regular basis and have even set up their own online business once realising that there was a demand for their items.

Car boot sales

While eBay is in effect an online car boot sale, the original outdoor events which are often held in farmers' fields are proving to be as popular as ever. Car boots give families the chance to load up their vehicle of unwanted items and pass them on to someone who will be able to get better use out of them. You will likely have to pay a small fee to secure a pitch, but this could be nothing compared to the amount of cash you will walk away with. Not bad considering you will be clearing your house of clutter or freeing up the garage and loft. Another advantage of a car boot sale over using the internet is that you will not have to post all your sale items off to the recipients. While these costs can be factored into the deal on a website like eBay, you will still have to wrap the goods and go to the Post Office to send them off one by one.

Trade ins

Another option for Brits attempting to raise money from their unwanted or used goods is to trade them in. With the rise of smartphones there have been a number of recycling websites which have cropped up, aware that many people swap their handset every year or two. Smartphones tend to hold their value fairly well, so it is worth your while to swap a device which is gathering dust in a drawer. The most recent iPhone 5 could fetch around £300 - not bad for something which you might no longer use. Cars are another commodity which companies are looking to get hold of to either resell or pass on as scrap metal. If you are thinking of getting a new motor in the coming months, check out the internet to see how much your old model will fetch - especially if you are looking at buying second-hand from an independent seller who might not be willing to part-exchange.

About Denny Jones

Hi there! I am Denny, a personal finance blogger and I love to share tips related to managing finance for a better living. Follow my blog for lots of fresh and exciting tactics to control your finances.
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