Clean Out Your Closet for Ca$h
BY CATEY HILL
If you’re anything like most girls I know, your closet is literally overflowing with clothes, shoes and accessories that you don’t wear anymore. (Who hasn’t gotten just a little too caught up in one trend or another?!). But rather than let all those goodies sit there collecting dust, why not clean out your closet and sell that stuff for cash?
To do this, first you’ll need to take an inventory of your closet. Anything you haven’t worn in the past year or so, consider selling. Next, learn which items will fetch more cash than others (but don’t throw anything out yet as almost everything you own can probably fetch at least some money). Here are a few things to look for:
- Brand: Obviously, high-end designer names like Louis Vuitton and Chanel are going to fetch top dollar on the resale market, but slightly less pricey — but still popular — designer brands like Tory Burch, Marc by Marc Jacobs and White by Vera Wang will score you some cash as well. Even if you don’t have those kinds of clothes in your wardrobe, designer collaborations with department stores (think Jimmy Choo for H&M or Missoni for Target) can fetch a pretty penny, as can clothes from retailers like J.Crew and Anthropologie.
- Style: Even if you don’t have many name-brand clothes, you can get a decent amount of money for clothes that are in style right now, such as leather or leather-accented items, and clothes that are black and white, striped or floral. Also, be sure to remember the things that almost never go out of style, like the little black dress and the simple blazer. And think seasonally: Since summer is fast approaching, you can get money for cocktail dresses and old bridesmaids dresses that people can wear to weddings.
- Condition: The clothes need to be in good condition — few if any stains, tears or discolorations — if you expect to get top dollar for them. It’s smart to wash and iron clothes or fix a fallen hem or pocket before trying to sell them. Even clothes that are from a big-box budget store — if they’re in good condition — may fetch you some money.
Now that you’ve taken inventory in your closet, it’s time to sell your stuff. There are a variety of ways to do this.
- Online: Everyone knows about eBay already, but that doesn’t change the fact that it’s a great place to sell clothes, especially name brand items, since often a bunch of people bid on them and drive up the price. With eBay the key is to have great photos (show those designer tags or receipts if you have them, and make sure the photos are well lit) and a good seller rating.I also like these sites/apps for selling clothes: Storenvy.com, Threadflip.com and the iPhone app Poshmark. All of these sites are easy to use and can help you earn cash for your old clothes.
- Consignment: Offering up your clothes to a local consignment shop is another good way to get paid. Typically, you’ll get 40 – 50% of the total price that the consignment shop sells your stuff for. If you can, get these terms in writing. And before you go into a consignment shop, do some research online about what similar items are selling for — often you can get more money by selling your stuff online.
- Garage sale: Garage sales are often best for those clothes that aren’t from a well-respected brand, aren’t that fashion-forward and/or aren’t in great condition that you just want to get rid of. Hold a garage sale and try to sell what you can. Towards the end of the sale, if you haven’t sold the items, put a bunch of the clothes in a box together and then sell the “bundle” for a few bucks. Hey, it’s better than getting nothing!