DENVER (KDVR) — If you’re looking to pay off any holiday debt, or if you want to make some extra cash this season, you might want to consider selling off any unwanted gifts.
There are plenty of buy-back websites looking to take certain items off your hands.
In many cases, you can make a pretty penny!
One of the most popular items people receive over the holidays is clothing.
The RealReal is more so for higher end brand clothing, whereas Poshmark and Thredup are a lot more mainstream; they’ll take all sorts of brands. According to Tally, you’ll make more money if you have the tags on the articles you’re looking to sell.
In fact, TheReaReal pays sellers up to 85% of the value of their clothing.
“Keep the original packaging also, especially for designer items. Because if you have for example a fancy designer shoe and you put it in the bag the shoe came in and in the box, they will note that and put it in the item description box. And again, that will help you get a premium,” said Bobbi Rebell, a personal finance expert at Tally.
When it comes to gift cards, chances are you’ll receive one or two from a store you don’t really care for.
Fortunately, there are websites who will buy them back from you, also!
Other sites, like Raise, use an auction-type system similar to E-Bay.
“Gift Card Granny, you can also sell gift cards through there. You can either establish the price yourself, trade it in or list it immediately and get your cash in returns. So those are some top platforms for gift cards,” said Rebecca Gramuglia, a financial expert at TopCashBack.com.
A recent survey from Blackhawk found the average American is expected to spend more on gift cards this year; spending roughly $313.
When it comes to selling off unwanted electronics, financial experts at Tally recommend using Facebook Marketplace or Craigslist, so you don’t have to give a certain percentage to a business.
“Many of the companies that sell the electronics themselves, like Apple, you literally put in your serial number and they will value that device on the spot and you can then send it into them or bring it into a retail store and they will give you money or they will give you credit towards another device,” said Bobbi Rebell, a personal finance expert at Tally.