Well, actually rags won't sell, and you're not likely to get rich, but selling used clothing can help stretch your wardrobe budget and bring in a little extra cash in as well.
First things First Collect your inventory. Go through your closet and pull every item that you haven't worn in the last few months. Be brutally honest. If it doesn't fit, it isn't likely to. If you have nothing to go with that blouse, get rid of it. Holiday outfits and formal items are seldom worn twice; you might as well recoup some of the money you spent.
Collect your barely-worn shoes, hats and accessories as well. Now, head down the hall to your children's closets, and don't forget your partner's stuff if you have permission.
Needle and Thread and Stain Remover To get the best price for your items they must be in good repair. Fix any broken seams, replace missing buttons and make sure the item is clean, stain free and ironed before selling.
Name brand and designer clothing will fetch the best prices, but even off-the-rack clothes can find a new home and make you a few bucks.
Brick and Mortar Shops The next question is where to take your clothes for money. First, check out the local consignment shops. Depending on the size of your city or town, there may be several and each may have a specialty. Talk to the owners about what type of clothing they carry and what the commission percentage is.
Consignment shops will want clothes a season ahead, so have your winter stuff ready by mid-summer. Often it is best to make an appointment to bring your items in. The management will check out your pieces and decide which they will take on consignment. You will have a contract, and at the end of the contract period you will receive a check for your portion of the sale proceeds. This process varies from shop to shop, but these are the essentials.
The Internet There are lots of options for selling your clothing on-line. The days of eBay being your only choice are gone.
It's important that you select a selling venue that is appropriate for the type of clothing you wish to sell. If you have designer pieces with high purchase prices, you will be looking for an entirely different outlet than someone who is selling their children's outgrown items.
It pays to do some research before jumping in. The established sites each take a portion of the sale price or a set fee per item. Compare your potential profit from site to site before you list. The advantage the established sites hold is that they get the internet traffic to drive sales.
If you aren't excited about sharing the wealth, you can set up your own online store or use Craig's list. These options require considerably more effort on your part, and unless you plan to make re-selling a big part of your life, it will be difficult to build the traffic you'll need to turn a profit.
Selling Old School Finally, there's the good old fashioned yard sale. If you go this route, advertise in your local newspaper and on Craig's List, which is free.
Be specific in your descriptions. "Boy's Clothing" is too vague. Go for "Size 8 to 10 boy's clothing, brand names, lightly worn. Jeans, dress pants, winter coat and more." The more detailed you are the better your traffic will be.
You could also consider getting a table or booth at a flea market or community garage sale. If you don't have enough items, go in with a friend or two. Though re-selling clothes isn't likely to make you rich, the money you make will help buy the kids new school clothes or perhaps you can score a new pair of shoes.
If you really enjoy re-selling, you can often pick up amazing deals at thrift stores. Often the items have original tags and are sold for just a few dollars. If you have a good eye, you can flip these garments through your own sales outlet and make a profit.
If you haven't sold your old clothes in a month or so, it's time to let them go. Do NOT put them back in your closet. Donate them and be sure to get a tax receipt to itemize. Wait a few months, and then you can start the clothing resale process all over again!
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