£27 billion untapped cash sitting in homes across Britain
The average UK household contains over £1,045 worth of unwanted items that could be re-sold for cash, new research from eBay reveals.
Among the most common unused items piling up under beds or tucked away in dusty drawers are mobile phones (average eBay selling price (AESP): £109), handbags (AESP: £21) and laptops (AESP: £142) – all of which could be sold to raise extra money this summer. In fact, £896 is the equivalent of the average UK family holiday for four, so decluttering could mean a free holiday this summer.
While one fifth of Brits (18%) who sell unused items admit they sell to fund holidays away, a staggering 3m Brits (5%) admit to never throwing anything away, preferring to hoard household items at home, even if they are no longer of use.
eBay spokesperson Laura Wilkinson said, “Just because you no longer use something, it doesn’t mean it’s not useful to someone, or not worth something in re-sell value. For example, sat navs sell for an average of £73, Games consoles for £58, and bicycles for £122. Selling things you no longer need helps declutter the home and it’s never been so easy – sellers can now download the eBay app for free, which allows you to list items in just 60 seconds using barcode scanning technology.”
Those looking to sell unwanted household items and make some quick cash in time for summer can use eBay’s top tips for selling:
Timing is key. Have a think about the best times to list – listings that end in the middle of the night will be seen by less people
Start at a low price. If you keep your start price at 99p then it’s free to list, and you’ll attract more buyers
The title is vital. The first thing that buyers see is the item title. You only have 55 characters to get their attention, so make them count. Include details like size
Retail with detail. Make sure you include all available information when you’re describing your item and use good, clear pictures. Also, make sure you’re on hand after the sale to provide great customer service. This will ensure positive Feedback and a great experience for both you and your buyer
Use your mobile. The eBay app is free to download and can list an item in just sixty seconds
Jasmine Birtles, independent finance expert and founder of MoneyMagpie.com agrees that selling things you no longer need is a great way of boosting your finances. She says “if you don’t need something anymore, I think selling is a brilliant way of making extra cash and giving yourself some extra space at the same time. You can even get into 'neutral shopping' where you use the money you've made from selling to buy something else - that's like getting it for free! There are lots of ways you could sell on your old things to make way for shiny new ones. You could have a house clear-out and raise enough cash for your summer holiday and more."