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If your Bank Holiday plans involve staying in and having a good and thorough clear out, it may be a chance to make some extra cash. Your junk really could be someone else’s treasure – and knowing what to sell and how to sell it could see you topping up your bank account sooner than you’d think. But what is worth selling, and how can you make money fast?
The recent lockdown has given many Britons the chance to have a clear out as they were forced 15 crafts to make money as a teen online stay at home.
But if you’ve been tidying up your cupboards, decluttering your wardrobe or rooting through your attic to get rid of all that stuff you never use, it’s well worth having another look before throwing it in the bin.
Money Saving Expert founder Martin Lewis revealed this week that some savvy sellers are making hundreds of pounds a year simply by listing unwanted goods on eBay.
The finance guru has provided a cheat sheet on the website to help people to make cash from their clutter, using the popular auction site as well as Facebook Marketplace and local groups.
While eBay takes a 10 percent fee, Facebook is free to post – meaning all the profits go into your pocket.
So what sort of things should you be looking for as you hunt for items that could make you some money fast?
James Constantinou, founder of Prestige Pawnbrokers of Channel 4’s Posh Pawn fame, has seen a surge in demand for remote borrowing, buying and selling since the lockdown.
“In recent months we have seen valuation requests for some interesting items, such as a low mileage rare series one Jaguar e-type roadster with a loan valuation of £120,000, to enquiries for designer bags of up to £40,000 for a rare Hermes crocodile bag,” explained James.
He added that anything from coins to jewellery and watches are just some of the items his team are looking for.
The expert has revealed some of the buying and selling trends – and how you could make thousands of pounds by clearing out some of the following must-haves.
If your impressive wardrobe of watches has been collecting dust in recent months, 7 Ways To Earn Money When You’re Unemployed it may be time to trade them in.
Martin Lewis’ golden rule is to get rid of anything you haven’t used in a year – and selling your collection could be very lucrative.
James commented that the most popular watches he sees for valuation range from Rolex, Hublot, Audemars Piguet, Cartier and Patek Philippe, with prices ranging from £3,000 to a massive £200,000.
If you have designer handbags cluttering up your wardrobe, now is the time to make some cash.
While you may not have the rare Hermes bag James mentioned, there are certain brands which retain their value for longer – meaning even your oldest accessories could make you a pretty good profit.
“When it comes to purchasing luxury handbags it’s worth knowing the ones to invest in; Chanel, Louis Vuitton and Hermes being three headliners that hold their value,” advised James.
The pawnbroker also sees designer scarves, purses and sunglasses sell for a decent sum online.
While some of your jewellery may have sentimental value, it could be worth looking at its monetary value if you’re looking to make some extra cash this month.
Your jewellery box could be home to items worth thousands of pounds according to James, who said he’s seen diamond rings valued for between £500 to £50,000.
The expert has also valued Cartier Love Bangles at £4,000, while one person loaned against sapphire and diamond earrings at £35,000.
What’s more, James believes now is the best time to sell any gold you have laying around that you no longer use.
“My advice is, if you have old gold, now is the time to sell. Gold is holding its value well – it always does in uncertain times.”
Prestige Pawnbrokers has eight stores nationwide, but has now launched a Posh Pawn app to make it even easier for you to sell, buy or get a valuation from the comfort of your own home.
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