The Price is Right … For Your Unwanted Stuff

By Kylie Gilbert

Once you’ve figured out which option you want to use to sell your stuff, there’s still the dilemma of how much it’s worth.  Finding the right price is important for ensuring that your item will actually sell, and not just sit out in cyberspace- and keep taking up room in your closet!

Step 1: See What’s Out There

Your first step is to check out the competition.  This comes into play if the item you are selling is currently worth more than what you originally paid.  However, some things are just more popular than others and can therefore be sold for more.  On eBay, you can conduct a search for the item you are hoping to sell, and see if there have been any bids and if so, how much the item has gone for.  You can get the prices of many used auction sites, including eBay, on Lockboxer. You may have an idea in your mind of how much your favorite Pez dispenser is worth, but sadly everyone else may not feel the same.

Step 2: How Much Is Your Item Worth New?

In addition to checking out the competition, you also need to see how much your item is worth new if you are not selling something that has undergone immense appreciation- like baseball cards, which may be worth thousands of dollar a pop.  Clearly, no one will want to buy your item (even if it has been barely used) if it is so close to the price they can pay in a store without the hassle of buying from a stranger behind a computer screen (as friendly as you may be). You can check out new prices on Lockboxer, too.

Step 3: Significantly Reduce the Price

Once you know how much the item is selling for new, you should cut this price in half or even more depending how close to new your item is and how badly you want to sell it.  If the item is new with tags, including the original retail price in your description (along with brand names and other key words to make your item is easily searched and recognized) can also be a good idea.

Step 4: Consider other options

There’s another option as well that some may not think about.  In some circumstances (or if all else fails) you may actually want to donate your items rather than sell them. If you itemize your taxes, you can deduct the assigned value of what you are giving away and still clean up clutter and get something in return- even if it isn’t cash in your pocket directly. You can easily make a donation list through Lockboxer.

Other websites that were helpful and informed this blog:

20-Something Finance



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