Australians can make some easy money by selling unwanted items online.
Australians can make some easy money by selling unwanted items online.

Turn clutter into quick cash

OFFLOADING items cluttering up your home can quickly be turned into fast and easy cash.

Consumers could be costing themselves thousands of dollars by failing to sell preloved items they no longer want or need.

Popular online classifieds website Gumtree's latest Second-Hand Economy report quizzed 1000 Australians and found nine in 10 have unwanted items in their homes.

The report also found:

- One in two Australians admit to throwing unwanted items in the bin.

- Australians have about 25 unwanted or unused items per household.

- Households could make $4200 per household from their unwanted items.

- Overall the second-hand economy is worth $34 billion.

The most popular items people are happy to farewell include clothing, shoes, accessories, books, DVDs and CDs, games and toys and electronics.

Gumtree Australia's managing director Martin Herbst encourages Australians to declutter their unwanted items and turn it into cash.

"We found 66 per cent of Australians actually buy something second hand to reduce waste and recycle,'' he said.

"People can find niche things and great items second hand."

But the report found the biggest barriers to selling items second hand include being time poor (37 per cent), being uncertain about what to sell (34 per cent) and having trust and safety issues (33 per cent).

Logging on could earn you fast cash via the second-hand economy.
Logging on could earn you fast cash via the second-hand economy.

Gumtree has more than 3 million listings on its site at any given time, which rolls into tens of millions of items advertised annually.

Users do not pay to list an add but can opt to pay for additional features such as boosting the ad to give it more prominence online.

And for consumers who do take the time to post a descriptive ad with clear pictures it often results in a successful sale.

This of course is if the price is right.

Tribeca Financial's chief executive officer Ryan Watson said creating cashflow from unwanted goods is a "win."

"A win because you can get rid of some of the clutter around your home and a win because you get some extra change in your pocket,'' he said.

"In a time when it is costing us more than ever to live, it makes sense to convert unwanted or unused goods into cash."

Mr Watson said any unwanted cash would be better off put being into a mortgage offset account - a day-to-day account - or in a savings account.

Other popular places to get rid of unwanted items includes eBay or by donating items to charities.

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Holding a weekend garage sale can also be a quick way to make money.

But not everyone is out to make a buck from their second-hand items, the report found many opt to donate to charity (72 per cent) or give goods to a family member or friend (34 per cent).

 

TIPS TO SELLING ONLINE

- Do research to work out a fair price.

- Be descriptive with your listing.

- Take clear photographs.

- Be responsive to any queries.