The Second Hand Economy How You Can Benefit And Save Money

Dated: March 1 2019

Views: 781

Image titleThe second-hand economy is a great way to make extra money. In fact, it’s a multi-billion dollar industry that helps eliminate waste by keeping items such as clothing and appliances out of landfills. But what is it? Generally speaking, the second-hand economy is a simple way to earn money by selling used items. If you’ve ever had a garage sale or used an app like Vintedto sell your gently used clothing and accessories, you’ve participated in the second-hand economy. For many people, this is a fun way to make a few extra dollars once or twice a year, but you could actually be benefiting from it much more than that.

There are several ways you can earn cash by getting rid of items you no longer want or need. With so many people on board trying to go green and recycle in order to reduce the effects of global warming, it’s no wonder the practice has become so popular. However, the key is to find a way to do it that works for you. For instance, if you have a lot of social media followers, using an app like Poshmark may be the best way to get started because you can share your listings immediately with anyone who follows you.

Here are just a few of the ways you can make extra money through the second-hand economy.

Use an App

Advances in technology have made it possible for us to do just about anything with the touch of a smartphone, so it’s no surprise that there are now ways you can earn money with one. Download a free app such as eBay or thredUP that will allow you to sell your goods quickly and safely to buyers all over the world. Some of these will let you link to a social media page so you can share your listings with your followers, while others require a bit of commitment from sellers — such as setting up your own “shop” through the app — in order to prove they’re serious about selling. This will help you engage with your customers and earn their trust.

Have a Garage Sale

Many people understand the appeal of a garage sale; it’s a chance to get a great deal on some antiques, or a unique piece of art, or maybe just some kids’ clothes for the next season. If you’ve never had one, be forewarned: It does take a bit of work. You’ll want to make posters (use websites like Canva, which will cost you around $12.95 per month) advertising when and where the sale is and hang them around the neighborhood, set up tables and clothing racks (you can find affordable racks on Amazon for around $10 before shipping) with eye-catching displays to draw in foot-traffic (set something sparkly out in front, such as a crystal vase), and be prepared with plenty of cash to make change. A great garage sale starts with plenty of preparationand can net you quite a bit of money. Don’t forget that you can make money by becoming a garage sale watcher yourself and resellingthe treasures you find.

Store the Items You Don’t Sell

Keep in mind that when it comes to garage sales, you’ll likely be left with some items that don’t find a home right away. This is normal! Just have a backup plan, such as renting a storage unit so you don’t have to bring the pieces back into your home. This will eliminate clutter and will allow you to hang on to the items so you can try again with the next sale. If you’re looking for a cheap 10-by-15 unit in Las Vegas, you can find the best value by renting an $89 unit at SmartStop Self Storage on W. Sahara Avenue. The average cost of a rental unit in Las Vegas is about $102.

Start a Vintage Shop Online

If you have a lot of items that could be considered vintage — remember that now includes things from the ‘90s! — you might think about opening up a shop on a platform like Etsy, where you can sell those pieces to collectors. The thing to remember about online businesses is that you need a great photograph along with a transparent business policy that will allow customers to stay in contact with you. eBay is another great place, but you may face more competition.

Taking advantage of the second-hand economy is a great way to make some extra money year-round. With a little planning, you can do it with ease! Just remember to do some research before diving in to make sure your method is right for you.

Natalie Jones

Blog author image

Daryl Hanna

Daryl Hanna and The Hanna Group are committed to bringing the respect back to the real estate profession through making sure each and every transaction is handled with the utmost care & respect!! The ....

Latest Blog Posts

A New Way To Shop For Homes In A Virtual World

In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices

Read More

The Surging Real Estate Market Continues To Climb

Earlier this year, announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index

Read More

How Low Inventory May Impact The Housing Market This Fall

Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the

Read More

Why Homeowners Have Great Selling Power Today

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer;

Read More