Good morning, this is a guest post from Hayley who is a personal finance writer and blogger from the UK. She writes about getting out of debt – the good points, the bad and everything in between, over at her website A Disease Called Debt. You can also follow Hayley on Twitter. Let me know if you would like to guest post on MMYW.
It’s been more than a year since I started trying to get my finances in order. During this time, I’ve come to appreciate the material things that I already own and therefore tend not to waste much these days. I reuse what I’ve already got and try to repair broken things instead of throwing them away in order to get as much use as possible out of them.
Whilst I’ve been concentrating on making the most of the possessions I already have, I’ve been amazed at what treasures can be found that other people don’t want! I don’t mean to go and hunt through trash cans but if you keep your eyes peeled at garage sales, flea markets, thrift shops (especially in upmarket areas) or online sites like Freecycle, eBay or Craigslist; you might be able to find the right kind of items worth cleaning up and selling on to make a profit.
Here are a few examples of how money can be made from other people’s junk:
1. Kid’s pushchairs
It’s possible to spend an extortionate amount of money on kid’s pushchairs and prams. Some parents will spend in excess of $1000 to be able to cart their kid around in an all singing and all dancing pushchair. At the same time, if a buggy looks worn or dirty with broken parts or flat tyres, then they are often sold cheaply or even thrown away.
This is where you can pick up old clapped out models without spending a lot of money, refurbish them and sell them at a profit. It doesn’t cost much to give a pushchair a new lease of life. Just a bit of elbow grease really. Covers can be washed, tyres blown up or replaced and broken parts fixed using spares. I’ve refurbished a few pushchairs recently and have always made a profit when selling them on.
2. Kid’s toys
Kids grow out of their toys like they do with clothes. Parents often store them for a while before deciding to have a clear out and if you can be on hand at the right time, you might be able to get a real bargain for them. You can make a profit by cleaning them up and selling them separately. You could even sell them on as bundles too but instead categorize them by age suitability or toy type, to make them into a better buy for someone else.
3. Shoes
If you have a nice pair of shoes, you can get new heels and soles fitted without spending too much money. The soles and heels are what most people look at when buying second hand shoes. Leather uppers can be polished up and fabric shoes can usually be sponged down. Designer shoes tend to sell better so if you have a pair that you don’t need anymore, spruce them up and make some money by reselling them.
4. Pictures
Some people love fine art and really appreciate it. Other people just like nice prints which they enjoy looking at and which jazz up their homes. Picture frames can be quite expensive but in a charity shop or garage sale, they can be found at a fraction of the cost especially if the print inside them is old fashioned and not really worth anything. It’s easy to revamp an old picture frame by either cleaning it up, varnishing or painting it. You could put a cheap modern print inside or even a mirror from somewhere like IKEA and make a profit selling it on!
5. Doors
I know this to be a feasible business because I needed to buy some second hand doors a few years ago when I was refurbishing my home. A guy who lived locally to me had set up a successful business by collecting old doors in various shapes and sizes from local waste sites and house clearances. He then repainted or varnished them and took the handles off and cleaned them up.
6. Indoor furniture
If you’ve ever used spray paint or varnish and sandpaper before, the chances are that you could have a go at transforming an old fashioned wardrobe, table or chair into a better looking piece at worst and a bespoke shabby chic designer piece at best.
It’s possible to pick up furniture at low cost from yard sales and thrift shops. You could then sell your items online or at local craft or furniture fairs. If you’re good with a fabric staple gun, you could even have a go at reupholstering with some funky fabrics to transform an old fashioned chair or sofa.
7. Garden furniture
Garden furniture can be really expensive to buy brand new. But just like indoor furniture, it can be refurbished to give it a new lease of life. Not just tables or chairs, but bird tables, garden swings, hammocks, containers and ornaments can be spruced up too.
Where to sell refurbished products
There are a number of offline and online avenues you can explore for selling refurbished products. It really depends on the item that you’re selling. Pushchairs for example, sell well on eBay but refurbished furniture might be better sold at craft fairs or handmade market places like Etsy.
Presentation matters
Whenever you sell anything that you’ve refurbished to make a profit, presentation should be given real priority. How many items do you look at closely on eBay if the photos and description are rubbish or even non-existent for example?
So when you’re looking to sell, pay attention to presentation. Taking good pictures and explaining as much about the item as possible if you’re selling online will really help. If you’re selling in person at a craft fair, give potential buyers the story behind your product and how you refurbished it.
This post was featured on the Canadian Budget Binder, thank you!
Have you made money from other people’s junk before?
I have not made money from other people’s junk, but one of my parent’s neighbors has made a full-time business out of restoring wooden furniture. She does it all day every day in the Summer and seems to do well for herself.
DC @ Young Adult Money recently posted…The Four Questions I Ask When Giving Gifts
Furniture restoration is a great way to go I think. I’m currently looking at different ideas on the internet and I’m going to have a go at restoring an old wardrobe that my parents no longer want. Fingers crossed I can make a good enough job of it and make some money!
My girlfriend and I have discussed getting old furniture, fixing them and painting funky designs on them to sell them. Right now our place is kind of small but maybe we’ll take some of your other tips to get started until we get a bigger place where we can work on the furniture.
Aldo @ MDN recently posted…The Powerful Force of Compound Interest
You and your girlfriend sound really creative! I hope you decide to pursue this. You could maybe start by restoring some smaller items for now, side tables or stools perhaps? Good luck!
Hey Hayley and great to see you on here 🙂
“I’ve come to appreciate the material things that I already own” – welcome to my world 🙂 I think this should be the mindset for everyone regardless of income or strata!
I love all your ideas and have been thinking about doing a bit of shopping at my local thrift store to see what I could buy that would bring in a higher price point than what I paid for it. As you might know already, there are a few guys doing just that on Craigslist and I think it’s an awesome way to generate extra cash flow without a lot of stress!
Thanks again Hayley and take care. My best to all.
Lyle
lyle @ the Joy of Simple recently posted…Let The Spring Cleaning-Decluttering Begin
Thanks Lyle! It’s a pleasure to be guest posting here on Make Money Your Way (thanks again Pauline for the opportunity). I’d be really interested to hear how you get on down at your local thrift store Lyle and whether you can make some money selling items on, keep me posted!
Thanks Hayley and will do 🙂
Take care and my best to all.
Lyle
lyle @ the Joy of Simple recently posted…Let The Spring Cleaning-Decluttering Begin
My wifes friend makes good money by selling other peoples junk for them on Ebay and then splitting the profits.
So many people have no idea of the value of the stuff they are throwing away
Case in point being a stroller my wife bought as a spare to go on holiday which she bought for £10 and resold 3 weeks later for £60 (I was impressed)
getrichwithme recently posted…Time To Get Serious With My Debts
That’s a great profit your wife made with that stroller – they really are one of those items that can sell really well if you know what you’re looking for!
Hayley recently posted…Debt Success Stories: Michelle paid off $40,000 in student loan debt
I’m a big fan of upcycling furniture from places like fleamarkets etc but the biggest bang for your buck comes from using or refurbishing stuff found on the street! May not be everyone’s cup of tea, but in some countries, where lots of people live in apartments and put stuff out on the street it’s a family hobby to take a walk and see what you find! When I lived in Barcelona I picked up some amazing bargains this way.
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Getting stuff for free definitely helps with the profit side of things! There’s not a lot of items left out on the street where I live (in the middle of nowhere) but it’s well worth keeping my eyes peeled just in case. I’m sure many people would find great items this way ready for refurbishing.
Sometimes I host clothing exchanges in my apartment and whatever goes unclaimed gets left. I’ve been able to sell a few of those items to consignment shops.
Stefanie @ The Broke and Beautiful Life recently posted…Groningen, The Netherlands: Ever Heard of It?
Clothing swaps are a great idea to save money – even better if you can actually make money from doing one too!
I have to admit I’m a bit too lazy to make this a side project. I’m always trying to get rid of what I have let alone someone else’s. 🙂 I can see if you enjoy this and have time how it can be very profitable!
Tonya@Budget and the Beach recently posted…April Review/May Goals
I think the tedious part is in the selling rather than the refurbishing. Ebay listings for example can be very boring and time consuming if you’re having to do a lot of them. There is the turbo lister which helps thankfully!
I’m curious how you do on the pictures and paintings? I buy and sell gently used men’s clothing that I buy mostly from thrifts. I always see the paintings and want to sell them, but I question if I it’s worth it and the shipping hassle associated with them.
Even Steven recently posted…Why You Must Attack Your Debt Like Ragnar Lothbrok
Thanks for your question Even Steven! Well, what I did was look for old pictures frames at my local car boot sale (similar to a yard sale). I picked up a stack of them for £10 with wooden frames, all with old fashioned pictures inside the glass. I’m no art trader but I didn’t think the pictures themselves were worth much.
Then I bought some prints online (you can get cheap modern posters on eBay – and at IKEA too of course). I painted the frames a mixture of vibrant colours and then I sold them on eBay. Because I had quite a few pictures on there some buyers wanted a set instead of just one which helped with the hassle factor. I just shipped locally by courier and made sure they were packaged really carefully.
On average each picture cost me around £5 including the frame, paint and poster to go inside it. I made between £5-£15 on each one so I was happy especially when I could sell more than one to the same buyer. You just have to look out for the cheapest picture frames possible that you think you can jazz up.
A friend of ours she has been selling clothes online for a few years now that she buys cheap at second-hand stores. Sometimes it’s stuff a garbage bag day for $5 and she goes wild finding all the name brand clothing. She makes a huge profit. She’s under 30 and now has 3 homes 2 of which she rents out. I”m pretty sure the downpayments came from her clothing sales. She also finds things on the side of the road for free and re-sells them. It’s crazy what people throw out and how others see it as a money in their pocket.
Canadianbudgetbinder recently posted…Can lending money ruin friendships?
Wow, that’s great! I wouldn’t know where to start with selling clothing. I think you have to have an eye for fashion and what might sell. If you’re in the know about clothing, I can imagine it’s a great business to be in!
Well, apparently it’s quite lucrative but I can only imagine the traffic flow to her house every day lol.
Canadianbudgetbinder recently posted…Why you should enjoy local produce or pay the price
Great ideas and tips. The items listed are the perfect ones people are looking for, with the exception of shoes. Shoes are meant more for donation, rather than selling, unless they are new. Children’s toys, clothing, high chairs, or cribs… are the best options on making a good profit because they are the most needed. Again, presentation is key.
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Designer kid’s stuff sells really well second hand – I have a friend who only buys her daughter brand new designer clothing because she knows she can sell it for a good price on eBay when her daughter grows out of them. She buys clothes from Boden and she swears that she makes most of her money back on them every time she sells them on eBay as second hand.
It’s surprising how much money can be made from these things. My dad gave my fiance and I a beautiful, solid wood sleigh bed for free, because he had picked it up on Craigslist. I painstakingly finished it and when we went to put our mattress on it, it turns out it was mislabeled so it didn’t fit our bed. We sold it for $400 which was a good profit since we just spent the cost of paint on it..
Daisy @ Prairie Eco Thrifter recently posted…10 Ways to Save on Eating Out
That’s great Daisy! That’s what I call a good profit! If you can find a bargain like that to ‘do up’, it’s well worth it.
Nope, but would not mind to do it. Some money earned from this would be good for my retirement options fund. Also i’m a tinker so i can do the restoration myself. I see a show in discovery channel about something like this. They make substantial money driving around cities and buying old stuff from people then selling it.
Jeff @Project Ikonz recently posted…Ebay side hustle is awesome and crap at the same time
I hope you decide to pursue this Jeff. I’d be really interested to read about what you’re buying and then doing up to make a profit. Keep us posted!
Hayley recently posted…Debt Success Stories: Michelle paid off $40,000 in student loan debt
I think that everything said was very reasonable.
However, think on this, suppose you typed a catchier title?
I ain’t suggesting your content isn’t good, however suppose you added something that grabbed folk’s attention?
I mean Make money from other people’s junk is a little plain.
You ought to peek at Yahoo’s home page and watch how
they create article headlines to get people interested. You might try adding a video or a pic or two to get
people interested about everything’ve got to say.
Just my opinion, it might make your blog a little livelier.
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I would have never guessed there could be money made from old doors. But that is the great thing about this country. If you can think outside the box and fill a need, you have a steady income stream right there.
Jon @ Penny Thots recently posted…Do You Have An Opportunity Fund?
I’ve made money from other’s junk.
In my city, people will put things on the curb that they no longer want. I’ve found chairs, tables and other furniture.
This past weekend we held a garage sale and I sold 6 chairs that I found for $2 each a table for $15 and a chest for $15.
Not bad for free stuff!
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