I’ll make £532 in profit from popular items found in a charity shop – and you can do it too
A SAVYY shopper has shared how he expects to make £500 in profit from items found in a charity shop.
The TikToker, called @ResaleWales, offers tips and tricks on secondhand buying and selling.
He shared a video which has hundreds of views and likes on how he’s turned items he’s found in charity shops.
He said: “This week I decided to hit up 23 different charity shops and games stores all in one day.”
The savvy shopper managed to find several popular gaming items which he bought secondhand and is now selling on eBay.
And he expects to make a big profit.
Firstly, he bought a guitar hero controller for a Nintendo Wii which he bought for £14.99 and sold for £54.99 – a profit of £40.
The biggest profit he made was for a Nintendo DS which he bought for £70 and sold for £164.99 making nearly a £100 profit.
The TikToker also found Mario Kart games, retro board games and merchandise which he has listed but hasn’t sold just yet.
In total, if he sells everything at the price he wants, he should make £931.84.
Therefore, subtracting postage costs, the eagle-eyed TikTok will make a profit of £532.15.
Of course, this depends on the quality of the items and what people are wanting to buy at the moment.
But it’s always worth heading into secondhand stores to see what you can find to sell.
Bear in mind, that if you buy something and don’t sell it, then you’ll have lost money so make sure you are able to put in the effort of selling on.
Check your item is worth something
You should also check to see if the items you have found are valuable, real and will sell.
Take it into a different secondhand or antique store and speak to a professional if you can.
Look on eBay and other secondhand sites and search for the item you’re thinking of flogging.
Take a look at the product description and make sure it matches it.
If you can, check that the item you want to sell is fully functioning as this can massively impact the price – especially with retro games.
If you’re reselling a board game, ensure all the pieces are there and if you can, keep it in its original packaging.
What second-hand apps are there?
There are lots of other second-hand apps that can help you to make extra cash.
Most apps are free, but some may take a fee or a commission.
Vinted
Vinted is great for selling everything from sportswear to high street brands and designer gear.
Best of all, the seller pays nothing, but buyers pay a fee of 3% to 8% plus 30p-80p, to cover refunds if their items do not arrive or if they get damaged in the post.
Depop
Depop is popular with students because it looks like Instagram and is easy to use.
It tailors listings shoppers see according to the brands and styles they have previously liked and searched for.
There are no fees to list an item but you pay ten per cent commission on anything you sell.
Preloved
Preloved lets you post online adverts that are targeted at people in your area.
This means you can arrange for buyers to pick items up and pay you by cash or PayPal on collection so you can save on postage.
It’s free for a basic membership or you can pay an annual fee of £5-£15 for extra features to boost your listings.
Facebook Marketplace
Another easy way to sell to local buyers using just your Facebook account.
Most users are looking for a bargain, so you might not get a high price, but it’s fairly hassle-free and you don’t pay commission or listing fees.
eBay
You can list up to 1,000 items a month for free.
You’ll pay a commission of 12.8 per cent on what you sell, plus a 30p fee.
The sum on which commission is calculated includes postage, tax and other fees, which can bump it up.
You’ll also pay more if your item sells for over £2,500 or if you want to add a “buy it now” price.
TAX WARNING
You can make up to £1,000 a year from selling items online or odd jobs like dog-sitting, without having to tell HM Revenue & Customs or pay tax on your earnings.
This also applies to making money from your home, for example by renting out storage space.
Anything above this must be declared and you’ll need to fill out a self-assessment tax return.
The tax you pay depends on your other income.
MoneySavingExpert.com’s income tax calculator can help you do the maths.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk