9 Ways to Make Money from Unwanted Holiday Gifts
No matter how well your friends and family think they know you, sometimes they just get it wrong. We’ve all received a gift in the past that we didn’t like. But, instead of tucking it away inside a cupboard or the garage, why not exchange it for some cash? Just make sure you thank the gift-giver for their thoughtfulness, first! Here are 9 ways to make some cash from unwanted holiday gifts.
1. Return It
One of the easiest ways to get cash for unwanted holiday gifts is to take items back to the store. Even if you haven’t got a gift receipt, many large retailers will take items back as long as they are unopened. If they have been opened, they might still allow you to the return the gift, but you might be offered store credit or a gift card instead. If so, that’s okay because you can sell your gift card for cash.
2. Sell Your Gift Cards
Sites like Cardpool and Raise will happily buy your unwanted gift cards in exchange for cash. You’ll get roughly 90% of the cards cash value, depending on which store the gift card can be spent at.
3. Trade It on Amazon
If you didn’t already know, Amazon has a trade-in program for goods you no longer want or use. You can trade in phones, Kindles, video games, tablets, and books. You’ll be paid in Amazon gift cards instead of cash though.
4. Sell Electronics
There is a huge market for second-hand and unwanted gadgets, so if you got an electronic gift for Christmas you can sell it on sites like Gazelle and Nextworth. These sites will pay you via PayPal or check. If you don’t want to sell it online, check out Best Buy’s exchange program instead.
5. Sell to Online Consignment Sites
Another way to make money from unwanted gifts is to sell them on online consignment sites. You can use ThredUp and The RealReal to sell clothing and accessories. Sometimes you’ll get paid upfront, and on other occasions, you’ll make money once the item sells. Swap.com accepts toys, games, and books. And to sell brand-new or gently used make-up visit Glambot.
6. Swap Clothes and Accessories
If you like the idea of swapping your goods, head to SwapStyle and RehashClothes to trade your clothes and accessories for other items on the site. To make a successful trade, you must have an item that is liked by the other party – if not, you can still purchase the item that they have listed. This is a good way to get rid of unwanted gifts if you aren’t bothered about getting a cash pay-out.
7. Resell Clothing Directly
If you are looking for maximum profits, selling unwanted gifts yourself will allow you to make more than third-party sellers. However, be prepared to put in some extra effort because you will need to photograph your item, pick a price, post it, and negotiate with potential buyers.
Sites like Poshmark and Tradesy are popular for selling used clothing and accessories. You can list your unwanted items quickly and easily and the sites will help you with the shipping and return process.
8. Sell on eBay and Other Marketplaces
To make the most money online, you can sell on eBay, Amazon Marketplace, Craigslist, or Facebook Marketplace. To make sure you are getting the right price, do a little research beforehand and see what similar items have sold for. On eBay, you can check the ‘sold listings’ box to find previously sold items and their prices. Just make sure you take great photos and include lots of keywords in the title and description.
9. Donate It
If you want to give back, why not donate your unwanted gifts to a charity or non-profit organization? You’ll also get a tax receipt so that you can claim a deduction on your taxes. Just make sure to donate before December 31 to get a tax deduction for the same year. However, not all charities are tax-exempt so make sure the charity is a 501(c)(3) non-profit organization to make good of your deduction.
