How to turn your unwanted holiday gifts to cash

By Admin Dec 31st, 2012

gty_christmas_presents_jef_111128_wg

Despite difficult times and families troubled with money worries, we have managed to waste an incredible £2.1billion on duff Christmas gifts.

The average Briton has been given two festive gifts which they definitely don’t want, at an estimated valuation of £43.50, based on research from classifieds website Gumtree.com.

Those most accountable for giving dodgy gifts are friends (19%), mums (11%), colleagues (10%) and mothers-in-law (9%). Video games top the list, followed by hair tongs, hair straighteners and cameras.

Hamish Stone from Gumtree.com says: “While we hope many people received gifts that brought a smile to their faces this Christmas, it’s clear that some well-meaning family and friends got it quite wrong.

“We’d urge anyone that wishes to put their unwanted presents to good use to think about selling them online. It’s quick and easy and means you can put the money towards something you really would like instead.”

MusicMagpie.co.uk saw a lot more than 160,000 Brits striking the net to flog unwanted pressies on Christmas Day, with the most popular time between 4pm and 6pm.

By the end of this week they expect almost two million tech, electronic and fashion products to have been sold on the website by people disappointed using their festive stash of goodies, but who want to get something from them.

So, rather than moaning and stuffing those festive turkeys in the back of a cupboard to gather dust, it’s time for you to get savvy as well as put them to good use with our five easy ways to turn the trash into cash.

1. Exchange/refund

Shops don’t have to provide a refund or exchange unless a gift is faulty. However, most of the big high-street companies use a 28-day refund or exchange policy for goods in a saleable condition with a receipt.

Some are even more generous and cover presents bought before Christmas, however, you will have to check with individual shops.

Marks & Spencer are providing people until January 15 for goods bought between October 1 and December 12, so long as they have a receipt.

Anything bought after December 12 will have a decent 35-day return or exchange. The last date of return is printed on till receipts.

Gifts purchased from Topshop from November 1 with a gift receipt could be exchanged for another product until January 31 – providing they’re in the original condition.

2. Sell

www.ebay.co.uk
This is actually the biggie that lets people sell just about anything.
All you need to do to get started is register with the website and set up a seller’s account.

Next, you pay an insertion fee, which costs from nothing up to £35, with respect to the starting price you give your item. Additionally you pay your final fee of 10% of the winning bid, but with a limit of £75. Part of the attraction is its simplicity.

www.gumtree.com
Post ads for all sorts from baby bits, clothes, children’s stuff, phones, sports kit and TVs. You have to register, but it’s free unless it’s for a job, rental or simply a service.

www.musicmagpie.co.uk
Flog CDs, DVDs and games – the total amount you get will not be huge, but if you sell a bundle of stuff it’s going to add up. The site has also started offering cash for clothing including dresses, jumpers, shirts, tops and jeans from a range of designer and high street brands. Payouts range from just a few quid to £200.

www.play.com
This can be really worth trying for DVDs, games, music and books.

www.amazon.co.uk
This has a limited number of categories from books to music, of c, sports and video games.

Let’s say you sell less than 35 items a month you’ll be able to generate a basic seller’s account. This costs from 75p per item, plus up to 15% commission (from 14p).

3. Swap

Duff gifts could be swapped for items you want. There is a whole range of sites, some specialising in areas for example fashion or books. Others allow you to swap anything from cars to clothes, hobbies to home items and PCs to phones.

For fashion, check out www.bigwardrobe.com and www.swishing.co.uk. For books, www.readitswapit.co.uk is a good bet. For everything else, visit www.swapz.co.uk, www.swapshop.co.uk and www.swapit.co.uk.

4. Recycle

You will not earn anything or make any personal gain from recycling, however, you can get the feel good factor that you have carried out your bit to help a very good cause.

Charities are struggling throughout the downturn and require all the help and donations they can get.

Cancer Research says their shops rely on donations of all kinds from jumpers to jewellery and belts to books, so pop right into a store together with your unwanted loot and help fight a killer disease.

The same goes for the British Heart Foundation, Scope, the Red Cross, Barnardos and many other charities. So select the cause nearest to your heart and offload what you do not want.

Has clear help those less fortunate is by www.uk.freecycle.org, which puts those with items to get rid of in touch with those that need stuff, helping to keep re-usable items away from landfills. Everything put on the website should be free.

5. Regift

Surprisingly, around 15% of unwanted gifts wind up being handed on to somebody else. Although this could save you a little bit of money in the short-term, it must be done with extreme care.

Be skeptical of who you pass your gifts onto, particularly with a member of the family. And be conscious that gifts may get back to haunt you in the event the original giver ever realizes.

Comments are closed.