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How to sell your unwanted Xmas gifts for maximum cash

abdulf

abdulf

6 minute read

Every Christmas I receive far too many gifts. Instead of putting it away, why don’t you sell your unwanted gifts for cash? In this article, we take a look at the pros and cons of each online and offline platform, plus show the techniques for getting lots of cash for your unwanted gifts.

How to showcase your items in the best way

Sell fast with good images
Taking quality product images

Have you ever bought something online only for it to arrive looking completely different to the images? Refunds and returns are never fun, so you should let buyers know exactly what to expect.

Here are three things which affect how quickly a product can be sold for a good price.

1) Clear, detailed images

You need to take at least 5 images from different angles. Also you should include 1 which highlights all the contents of the phone. If the lighting in your house isn’t great, either go aside or use the flashlight on another phone to light up the scene.

2) An interesting description which captivates viewers

Most people write a description under the assumption that viewers already know about the product. A good description should describe the condition, why you are selling it and why they should buy it. You can even copy and paste a product description from the product manufacturer.

You should also detail your returns policy and whether you accept offers.

3) Pricing

You need to be smart about how you price the product. It shouldn’t be so high that buyers resort to buying the product from the shop; however, it shouldn’t be so low that it raises eyebrows. Personally, I like to bundle in a few low priced unwanted items so that viewers feel like they are getting an amazing deal.

Online platforms

The 3 main platforms for selling your items quickly are eBay, Gumtree & Facebook marketplace. Each one has its own unique advantages and disadvantages.

eBay

Use detailed descriptions
eBay is one of the world’s largest ecommerce stores

Advantages

  • People feel protected by Paypal’s buyer’s guarantee. Therefore, you are likely to get a quick sale.
  • eBay gets millions of visitors per day. As a result, with the right images (more on that later) you will get lots of offers.
  • Selling is quick and easy. You don’t need to type out the whole description yourself.

Disadvantages

  • If you are a new seller, you will need to wait a while to get access to your money.
  • In case of a dispute, eBay tends to side with buyers. As a result, you could be left without your money or item even though you did nothing wrong.
  • eBay charges fees and so does Paypal. As a result, you might end up with less money as compared to selling on Facebook or Gumtree

Gumtree

Less fees but with higher risk
Sell locally on Gumtree

Advantages

  • Selling can be incredibly quick, especially if your item is highly sought after. For instance, I once had the cash for an iPhone 10 minutes after listing it.

  • Some buyers like to see and feel the product before parting with their money. This has made Gumtree incredibly popular.

  • You can pay to boost your items to the top of listings for a quicker sale. For high value items, this is usually worth it.

Disadvantages

  • Safety is very important when selling on Gumtree. As a general rule, always meet in a public place with a lot of foot traffic and CCTV cameras. Moreover, try not to get in their vehicle as this makes it difficult for others to see what is going on in case of an attack. If you feel uncomfortable at any point, cancel the meeting.

  • It is very easy to take on a different identity on Gumtree. As a result, it has become the playground of scammers. Don’t post your item to their “cousin” or accept cheques as a form of payment.

  • From experience, Gumtree buyers take haggling to a different level. If you aren’t open to offers, make it clear in your description.

Amazon

Sellers get more on average through Amazon
One of the world’s most trusted stores

Advantages

  • People tend to trust Amazon more than the other platforms in this review. As a result, you are likely to get a quick sale.

  • Amazon is the world’s most visited shopping site; therefore, your items will get more attention.

  • Amazon takes care of their sellers and offer unrivalled customer service. Therefore, should you run into any problems, help is swift.

Disadvantages

  • Amazon takes 15% from each sale. Depending on your product you might be charged more fees. On the other hand, Gumtree and Facebook marketplace don’t have any fees.

  • Amazon likes to pit sellers against each other. Their focus is on buyers and enhancing their experience. As a result, you could find that your item gets beaten by cheaper alternatives.

Precautions

This article would be incomplete if I didn’t show you all the pitfalls to avoid when selling your items. In an ideal world, everyone would be honest and follow the law. However, we don’t live in an ideal world. Therefore, here are some things to think about.

1) Stay safe

If you meet a buyer in person, make sure that it is in a public place. Don’t agree to change the location at the last moment because it could just be a way to isolate you. Let your loved ones know where you are going. If your gut feeling tells you to walk away, make an excuse and do so.

2) Be careful where you post items

Amazon and eBay offer some protection if you post to the address provided. Some buyers will try to persuade you to post it to another address. If you do so, they can claim they never received the product. Moreover, internet scammers use this technique as part of their operations.

3) Don’t accept cheques

A common scam is for criminals to give a cheque much higher than the value of an item. They then ask for the balance to be forwarded on to another bank account. The cheque bounces in a few days by which point the seller has already sent the item and money.

As a general rule, I don’t accept cheques as a form of payment. This is because with modern payment systems, I am suspicious of anyone who chooses to pay in this way.

Final thoughts

I hope you found this post useful, and it helps you to have a better experience while selling online. Share it with your friends on social media. Be sure to check out the giffgaff store for great phone packages and award-winning service.

Written by abdulf

abdulf
Abdul is a huge tech fanatic. Check out his personal finance website at olivermoney.com.