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How To Turn Score Credit Into Cash

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 8 minute read

There’s no need to store such gifts any longer! The following information will help you sell your unwanted (or unattractive) presents for the greatest money. Even if you’re fortunate enough to receive largely gift cards this Christmas season (or at least presents with gift receipts), you’re likely to receive a few items you regret and are unable to exchange.

It may be a second-rate sweater from a distant cousin, a video game you’ve already beaten, or even a book you’ll never finish (anyone read “Twilight”?). If you don’t want to deal with the difficulty and embarrassment of tracking down gift receipts, why not sell them?

Even if you get a bunch of undesired presents this holiday season—gift cards to businesses you don’t like, clothes that don’t fit, or even some strange camping gear—there are lots of ways to make money selling them. That being said, if you’re looking for a way to generate money this holiday season, look no further. Find out how to resale eight of the most regularly given gifts and make some extra money after the holidays.

Gift cards

Theoretically, gift cards are a terrific gift, unless you despise the stores involved. So, you got an Apple gift card from your grandma, but your phone is now running Android. Or perhaps your folks still believe that you shop at Old Navy (oops). It’s the worst when you receive a gift card that you can’t use. But don’t panic, there are a number of simple ways to get rid of these unused dollars and earn some money.

Cardpool, which offers up to 88 percent of the gift card’s value in cashback, is a great location to sell your unused gift cards. Keep in mind that other sites may take a much larger percentage of your money. If you’re attempting to sell a gift card, demand is the most important factor in determining how much you can get for it.

Raise, for example, uses an auction method rather than requiring you to provide your credit card number. As with eBay, you have the option to select your own price for the gift card on this site. If your pricing isn’t competitive, you may have to wait longer to sell it.

Clothes

People should definitely avoid trying to buy clothes for people beyond the age of ten because it can be difficult to find anything they enjoy. Chances are, even if a friend or family member has nailed the style, the size may still be incorrect. Fortunately, there are a number of companies that make it simple to sell your old clothing, even if you’ve only worn it once (we see you rocking that ugly sweater to humor Aunt Dolores).

Real pays sellers up to 85% of the value of their garments, and many of these things sell within days of being listed on the site. In addition, they welcome beautiful jewelry and home furnishings, so don’t forget to bring in that silver charm bracelet.

ThredUp is a terrific place to sell your gently worn clothing. An advantage of this method is that it sends you an empty bag that you fill and return with your unwanted clothing. If you prefer to conduct business face-to-face, check out your local vintage and consignment shops. Getting rid of unwanted presents can be time-consuming and frustrating, but you may be able to get a discount on some of your unwanted clothing from them.

Video games

What else is difficult for people to identify? Playing video games. As a player, you already know how expensive the pastime can be, which is why you should always try to sell any games you don’t intend to play.

Swappa is a great location to sell your old video games for cash. Selling to other players directly is made possible because of this website’s removal of the intermediary. Remember that you’ll have to pay for shipping, so factor it into your selling price.

Selling your games to a local GameStop or BestBuy instead of waiting for the appropriate buyer and depending on the postal service may be more your style. You may exchange your games for money or shop credit to buy something you really desire.

Electronics

People still purchase second-hand devices, so if you’re wondering if it’s worth it to sell yours, now is the time. It’s not as difficult as you may think to sell second-hand gadgets, especially if they’re still in good functional and aesthetic shape.

Do yourself a favor and retain all the packing if you think you might want to sell your new devices after the holidays. Your “Used, Like New” statements on the internet, will be helped by this, and your customer will have some peace of mind, as well. Facebook Marketplace is one of our favorite locations to sell generic old electrical devices. If you don’t want to bother with shipping, you may change your settings to “local pickup only” on this site, so you won’t have to.

Be careful to look into Apple’s and Amazon’s trade-in programs if you’re selling a product that was initially sold by one of these companies. They may be able to buy it back from you at a full or near-full price since they can trace purchases and returns more precisely than the old-school electronics store in your local mall. You may still be able to get a decent deal from these huge shops even if the item is broken or has been used for a long time since many of them provide “refurbished” items and may be able to repair and resell yours.

Books

Buying a new book is similar to buying a new automobile in that the value drops significantly right away. Even if you never open the spine of your undesired hardback, you’re unlikely to recoup even a fraction of what you paid for it originally. Hardcovers, on the other hand, are less sought after than softcovers, so you may expect to make less money unless the book is brand new.

Here’s how to get the most money for your books despite all the geeky negativity:

  • When it comes to selling your books, Amazon is a terrific option. When it comes to looking for secondhand books, it’s the first place people go when they’re looking for a bargain.
  • You may also sell your unwanted books on AbeBooks. This store, despite being less popular than Amazon, is an excellent place to find rare and out-of-print books at moderate costs.

It’s also important to perform some study before selling a book like that. Your local second-hand bookstores may be able to offer you a better price for your books. It may be cheaper than on Amazon, but it will also save you a lot of time and effort. As an added bonus, there may be a local bookshop that gives you a considerable store credit so that you may continue to read (and get the books you actually want to read).

Sports and outdoor gear

These expensive products may be sold for a lot of money, so if you were fortunate enough to get any unneeded sports or outdoor gear over the holidays, you’re in luck! There are several locations where you can sell or swap your gear for a reasonable price, whether it’s a set of skis, a camping stove, or even a new gym bag.

In the event that you’ve got any kind of conventional sporting equipment, SidelineSwap is a great spot to begin. To assist consumers to get the most value from their used sports equipment, this site was created by a group of ex-college athletes.

Check out your local gear exchange to see whether your unwanted present might be put to good use. There are now more and more of these businesses in the area, and they are a terrific community resource for helping others discover inexpensive gear. Moreover, they’ll allow you to sell without having to deal with any back and forth on the internet.

Selling on Geartrade, Facebook Marketplace, or Craigslist can be a good fit if you enjoy the back and forth of the internet.

Knick-knacks

Even if Santa gave you only one extra this year, now could be a good time to attempt to minimize before you become a professional hoarder. In addition to donating your unwanted goods, you may also try to sell them on eBay or at a local secondhand store.

Facebook Marketplace and Craigslist are the best places to look for this kind of thing. There may be a preference for one site over another based on where you reside. Sell your old trinkets on eBay and Craigslist for the best results. Take high-quality images of the item you intend to sell before you start your online ad.

Food

It’s not a good idea to attempt and recoup some of the cost of your undesired food presents by trying to resell them. Since no online site allows it, selling food to a stranger is not only a bad idea, but might also lead to difficulties with the platform’s administrators.

Get into the Christmas spirit by donating your unused holiday food gifts instead of selling them on eBay or Craigslist for a profit. Giving to one of these charities during the Christmas season may make a significant impact on the life of a deserving person.

How to get the most money for your gifts

Knowing how to obtain the greatest price for your stuff isn’t just about getting rid of it; it’s also about selling it for the most money. The first step is to become familiar with the products you’ll be marketing. What makes your item special, why people would desire it, and how much it’s worth are all things you should know. Prior to writing a post or describing your product, do some research online if you don’t know much about what you’re attempting to sell. Knowing what you’re selling will help you even if you’re simply talking to a small local business.

If you’re selling something online, it’s also a good idea to shoot some high-quality images. Photograph your stuff in natural light, from many angles, and on an uncluttered surface if possible. Photos that are taken in a context that makes sense, such as outside on the skis or a mixer on the counter, get extra points.

Keep your object sealed if you haven’t opened it yet. Use the original vendor’s photographs for your own marketing efforts by doing a quick internet search and downloading them. Make sure to emphasize that the item is new and at least slash the price by a few dollars to entice your customers.

The last resort is to either host a garage sale or consign your unique items to one of these establishments. An in-person sale is your best bet if you have a product that can’t be described.

Bottom Line

Even if you don’t have anything leftover from the holidays, selling your goods for cash is a fantastic way to get some extra money. After all, you don’t need all that additional stuff, and it might be clogging up your room for no good reason at all. Sell the gifts you don’t want or need this holiday season and use the money to achieve your financial objectives instead.

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