A Guide to Getting Rid of Unwanted Objects

One of the first things I did as I started to right my financial ship was sell off a lot of items that were taking up room in my closet. I tried a variety of methods to get rid of them. Here are some of the most significant findings I made.

Your time is valuable.

The worth of your time is the most crucial consideration in this procedure.
You must first establish how much your time is worth before you begin the process of selling off goods.

Why?
In general, the more time you spend selling an item, the better the return. The techniques of selling that necessitate more time each item usually yield a considerably higher return per item.

That is, if you invest more time in an item that offers a higher return, you are effectively selling your time.
If you can sell something for $5 in a minute but it takes an hour to sell it for $10, you’re effectively selling both the item and an hour of your time for $5.

Is that a fair trade for you?
It most likely relies on your existing financial situation as well as the demands on your time.
It would not be a good use of an hour for me.

As a result, before you begin, you should have a rough idea of how much your time is worth.
The more valuable it is, the more you should concentrate on approaches that require little time per item, even if the return is lower.

eBay has good returns, however it takes a long time to sell each item.

It takes time to set up and manage an eBay auction. You must create a simple auction listing; the more time you put into it, the more credible you appear and the more money you’re likely to make from the item.
You must respond to the questions that are sent to you. You’ll have to deal with the money. You must package the item and send it to the purchaser. If a buyer files a PayPal dispute, you may have to deal with their accusations.

This results in a large time investment.
If you’re an independent seller who doesn’t have access to a variety of templates and tools to assist you handle auctions, you’ll spend at least an hour on a single eBay auction.

This is the point at which the worth of your time is called into question. If you can sell a used DVD for $2 at your local used DVD shop and make $7 (after shipping charges, eBay fees, and other expenses) by selling on eBay and investing an hour, you’re effectively selling an hour of your time for $5.

As a result, I rarely use eBay for single low-value products.
Selling an individual DVD or an older used video game on eBay isn’t worth it — at least not for me.
The financial return on my time is simply insufficient.

So, what do I do with eBay?

I price my things on eBay. This offers me a sense of what a large worldwide market will pay for an item, as well as what I could expect to get (approximately) if I sold it on eBay. However, I’m aware that other techniques of selling the item – notably those that lower my time commitment per item – will not yield the same profit per item.

I sell higher-priced individual items, bundles, and box sets on eBay.
If you’re selling a group of products, such as a collection of a particular magazine or a set of related DVDs, eBay is a good place to start. When compared to selling locally, these higher-priced items earn enough on eBay to justify the greater time invested. I sold a lot of DVDs in 10-packs a few years back, and it was well worth my effort, earning me about $15 per hour in comparison to selling locally, for example.

Craigslist is mainly reliant on chance.

Another alternative for selling stuff is Craigslist.
However, my experience with Craigslist has shown me that sales are largely dependent on luck.

For starters, compared to a site like eBay, the number of eyes on the item is far fewer.
You primarily sell locally. That means you’ll most likely be disappointed if you expect to earn the same return as you would on eBay.

In my experience, if you list an item on Craigslist too high, you won’t get many bites (even if you say “$20 or best offer”), and you’ll get a bunch of absurd lowball bids.
If you repeatedly re-list an item, a moderator will become upset with you.
However, if you price an item correctly straight away, you can typically sell it swiftly and easily.

I usually try to estimate the return I’d get for the item on eBay (by looking for a normal selling price and removing fees), then take off another 25% or so before listing it on Craigslist.
Occasionally, I’ll find a buyer. Sometimes I will, and sometimes I will not. If I don’t find a buyer, I’ll try another method.

Yard sales have poor returns, but they might save you a lot of time per item.

The next step would be to have a yard sale to sell the stuff. Yard sales work effectively for certain products, such as clothing, housewares, and even media, but their performance is contingent on a number of criteria. The weather is a huge factor; if it’s nasty outside, you won’t attract any clients. You’re also dependent on your own yard sale promotion: the more time you spend promoting the yard sale with signs, flyers, and newspaper advertisements, the more consumers you’ll attract and the more stuff you’ll sell.

You’re not going to get a lot of money per item at a yard sale. Yard sales aren’t going to make you a lot of money on each thing you put out there, and if you price them to make a lot of money, you’re not going to sell them.
You must price the things in order for them to sell.

I usually start at around 35 percent of what I might receive on eBay. As the weekend progresses, I’ll gradually reduce the pricing of the things. Individual DVDs, for example, might begin for $2, drop to $1.50 after the first morning, then to $1 that evening and the next morning, then $0.50 later in the second day, and possibly $0.25 near the conclusion (after removing any individual ones I think I might be able to do well with elsewhere). I make it apparent that I’ll be gradually lowering costs throughout the weekend, and I’ll also mention that if you want the item, you should buy it now since someone else might snipe it before you can return.

If you have a large number of products to sell, you may easily break down your time spent per item sold into small portions. Let’s imagine you have a large collection of DVDs that aren’t selling for a lot of money on eBay. Putting them out for $2 on the first day and $1 on the second day will almost certainly result in a large number of sales. If you sell 200 items at your yard sale and spend 2 hours promoting it and 18 hours running it, you’ve lowered your time spent per item to six minutes, which is a very tiny amount of time.
This more than compensates for the reduced per-item cash return.

Used media buyers give modest returns but can provide a lot of items in a short amount of time.

If a yard sale (which takes several minutes each item) is still too time consuming, the cheapest choice is probably used media and consignment shops. At such stores, your return per item will be extremely low – often even lower than a yard sale. If you have a large number of products, however, your time commitment per item will be little.

If you don’t have much time to invest and any return on your stuff is worthwhile to you, this is the greatest option. This is something I’ve done in the past, especially when I was clearing out my closet and selling used media of all types.

Typically, you bring a bundle of products to a business like this, they price them out for you, and then either pay you a certain sum for the entire bundle (typically minus one or two items) or offer to sell them for you at a proportional rate. In either situation, you walk away with money in your pocket or the possibility for money down the line without having spent a lot of time on the products.

Good luck with your sales!