Are you feeling the pinch in your budget? The cost of basic necessities is rising faster than ever in recent memory. In order to curb inflation, central banks around the world are raising interest rates, and many homeowners are seeing their mortgage payments climb. As a result of rising costs everywhere, many families are looking for ways to pad their monthly budgets, pay down debts faster, and find savings somewhere along the way.
One of the quickest and easiest ways to find some extra money is to sell old and unwanted belongings. Decluttering is more than just a great way to clean up your home and gain some extra storage space. It can also be a way to earn some extra money, as long as you’re willing to put some time and research into it.
If you’re ready to clean up the house and beef up your budget, try these tips for finding and selling unwanted belongings from around your home.
#1 Music: CDs and Vinyl
Media can be a very mixed bag when you go to sell it. CDs have become an obsolete technology these days, but that doesn’t mean you should just throw them out. Like vinyl records before them, there’s a nascent second-hand market for CDs, and there are still second-hand record stores that might be interested – depending on your taste.
Surprisingly, some CDs may even have some collectible value. These are naturally going to be somewhat rare – that’s why they’re valuable. However, it’s worth checking your collection for rare and mint condition CDs that could attract more money from an interested collector.
While CDs may be out, your old vinyl records can fetch a pretty good price. Demand for vinyl has grown steadily in recent years, to the point that even new releases are getting vinyl copies. If you have stacks of vinyl records collecting dust at home, you could be sitting on a great source of extra cash. Some original stereo copies of older and popular records can be worth five figures, but even a contemporary or well-used collection can bring in a good price at the right record store.
#2 Gold and Silver Jewellery
Old, broken, and unwanted jewellery is perfect for raising a bit of extra money. Precious metals are always worth something, and you’ll find a ready market for anything you no longer want or need.
The secret to getting the best possible deal is finding the right jewellery buyer. A good place to start is a jewellery buyer who posts their rates online. For example, you can check out Muzeum to see what it looks like when a gold and silver buyer makes their updated rates public. You can see their up-to-date prices according to the purity and weight of your piece.
All you need to know is how much gold or silver is in your jewellery, and you can walk in with a good estimate of what you’re likely to get. You can often find a hallmark or stamp that will have that information on jewellery. Once you know the percentage of precious metals in a piece or how many karats a piece has, you just need the weight to get a good idea of what it could sell for.
You can also take unwanted jewellery around and get quotes from different jewellery buyers. They can vary widely at times, so be patient and do your research to get the best possible price.
#3 Furniture
Where you should sell furniture depends a great deal on what you have. The best place to sell everyday furniture that you no longer want or have room for is probably online classifieds. You can connect directly with buyers and get the best price by cutting out the middleman.
If you have real antique wood furniture, you may want to find an expert. Real antique furniture is hard to find. Just because it’s old doesn’t mean it has much extra resale value. Antique collectors look for hand craftsmanship, pre-machine-cut furniture, quality wood, and older furniture styles.
#4 Purses and Handbags
Designer name purses have a robust resale market, and if you connect with the right buyer, vintage pieces can turn up great prices. Search online to see how much you can get for luxury handbags like yours.
Shopping for luxury handbags can be very expensive when you buy them new, so it’s a sector that’s attracted a large number of bargain hunters who are constantly on the lookout for deals on the resale market. Certain designer handbags do a remarkable job of maintaining their value as long as they are kept in good condition.
Whether you received them as a gift or you find your collection has grown too big, these can be a great source of extra cash.
#5 Watches
A luxury watch is an ultimate accessory for men, and if you have one that you no longer wear, you can get a great price on the resale market. In fact, some designer watches can even sell for more now than their MSRP when they are no longer available new.
Gold watches can be very lucrative thanks to the large quantity of gold used in them. Gold watches like Rolex commonly use 18-karat gold, which is 75% pure. This is because 24-karat gold is too soft and malleable. It would be easily damaged when used in something that’s worn like a watch. Solid gold is used in at least the case, but it can also include the bracelet and bezel. If you do have a gold watch, check to see if it has resale value beyond the value of the metal alone.
Stainless steel watches can also sell for a considerable amount of money. In fact, the popularity of gold watches has waned, and designer stainless steel watches have increased in value. Although stainless steel watches may not be made from a material as valuable as gold, meticulously crafted designer brands have increased in resale value.
From vinyl records to gold and silver jewellery, your home could be holding a treasure trove just waiting to be turned into cash. Supplement your budget with the proceeds from selling unwanted belongings you can find at home.
