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eBay, Yard Sales Ways To Cash In Old Stuff

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Jun 29, 2009 6:01 pm US/Eastern

eBay, Yard Sales Ways To Cash In Old Stuff

  How would you like to find $50, $100, maybe even a thousand dollars just lying around your home?

You've probably got that much and more. We've all got old stuff that's not worth much to us anymore, but it is worth a lot of money to someone else.

Consumer Reports says the key is finding out the best way to turn all that stuff crammed in your closets into cash.

Colleen Carroll regularly raids her closets for extra spending money by selling her gently used clothing at a consignment shop.

"Last year, I made between $750 and a thousand dollars," said Carroll.

Yard or garage sales are another time-honored way to make money selling your unwanted stuff.

Turning your trash into treasure at a yard sale can be a lot of work.

You've got to price everything and haul it in and out of your house. You've got to make a bunch of signs and posters, but you do get to keep all the profits, minus costs like paid advertising and sometimes permit fees.

Selling stuff online on eBay or Amazon.com will cost you about 10 to 15 percent of your total sales, but you get more potential buyers.

"To get going, see what similar items are selling for on the website. For instance, on eBay, click on advanced search, then completed listing, " suggested Mandy Walker, Consumer Reports Money Advisor. "This iPod sold for $76. You'll need to open an account to advertise your items and to get paid. After a sale, pack and ship within a couple of days. Your reputation depends on it.'"

When you're selling online, small and lightweight is the way to go. That way you can save big on packing and shipping.

Some consignment stores will accept larger, heavier items such as furniture.

Colleen says she likes being able to clean out her closet and knowing others will enjoy wearing her clothing, but most of all, she enjoys getting a check every three months.

When it comes to yard sales, if you want to get more sales, start prices at about 10 to 20 percent of what you paid for it.

Be sure to mark prices clearly. Bundling items can help you make a sale.

Consumer Reports says always be prepared to give a discount.

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