Whether you’ve clearing out your wardrobe or have a stash of smartphones sitting in a drawer that you no longer use, selling unwanted items online on auction sites like eBay is a great way to declutter and make some extra cash.
According to a survey carried out by Opinium, the average household could make £477 by selling items they no longer need. Among the items likely to make the most money, according to eBay, are bikes (£284), tablets (£171), video games consoles (£158) and smart watches (£124).
Don't know where to start? Follow our top tips to help you get as much cash as possible for your unwanted goods.
1. Build a profile
Just like social media, you’ll need to create a profile on eBay. It’s mandatory to enter a username, but a picture and a biography is optional. Many eBay buyers are reluctant to buy from someone who doesn't have a rating on their profile, which comes from both buying and selling, so use your account to buy a few small items and get feedback from buyers before you start selling. This will significantly improve your chances of selling something in the future.
2. Do your research
There are thousands of new listings each day, so make sure your description is accurate and that you place it in the right category, to help it be seen. Need some help? Goofbid’s eBay Pulse tool can help you find the most popular search terms on the site. For example, the term 'women’s shoes' is more popular than just 'shoes'.
When listing your item, just enter the description e.g. 'Debenhams jacket' and eBay will trawl the site and find similar items. Each has a 'sell one like this' button underneath - press this and the site will do the hard work for you, suggesting titles, pricing and postage fees, which you can edit as you see fit.
3. Avoid listing fees
eBay lets you list 1,000 items for sale each month with no charge - any more than this and you will be charged 35p per listing. Listings fees are different to the fees charged when you successfully sell an item.
To see how many free listings you have left, log into eBay and from the top right-hand corner select 'selling' from the section marked My eBay - scroll to the bottom to see your free listings and any eBay promotions, such as free listing days.
4. Pick the right time
Ten days is the longest an auction on eBay can run for, so always select this option to give your items the best possible chance of selling.
According to eBay, the most popular time on the site is Sunday evening, so make sure your listing finishes then. Avoid times when most people will be busy, such as weekday mornings, or during big events like football matches or TV finales.
5. Picture perfect
You’ll get more interest from buyers if you illustrate your listing with pictures. eBay lets you list up to 12 at no extra charge, so get snapping.
6. Set your price
Look at similar items on eBay to get an idea of what yours will go for. Auctions are the most popular way of selling and you can also set a reserve price, so if the bids don’t reach that amount then the item won’t sell - although you will still pay 4% of the reserve price as an extra listing fee for this.
The 'buy it now' option is less popular, but if you want a set amount for your item then it’s the best way to achieve this.
It’s also worth noting if you do successfully sell an item, eBay will take 12.8% of the final price the item sells for (including any postage fee you charge the buyer), plus a fixed fee of 30p per item. This is on top of any listing fees you may have paid, so take this into account when setting a price.
Look for 'pay no more than £1 when you sell' promotions. eBay host these every so often so look out for the email, as this is a prime time to sell. The offer only applies to a maximum of 100 listings, and only if the item is being listed for the first time.
7. Think postage
Not sure what to charge for postage? Head to Royal Mail's price finder, which can give you a priced based on the size and weight of the package - but don’t forget to factor in packing materials such as envelopes, brown paper and bubble wrap.
Always use a method of postage that’s traceable and obtain proof of postage so, if an item goes missing in the post, you won’t be out of pocket. Only accept payment via PayPal, which can protect you from any potential payment issues.
Online auction site eBay may be the most well-known, but there are plenty of others, such as Ebid, Vinted, Shpock, Depop, Facebook Marketplace and Mercari that you should consider.
GH Tip: You don’t have to pay tax if you’re using eBay, or other auction sites, to sell second-hand items, but if you make or buy goods with the intention of selling them, this is taxable. Find out more at HMRC's website.
