Make $5000 from your unwanted stuff

How to make money and help the environment with the second-hand economy.

If you’re one of the 89% of Aussies who has items they no longer want or need in their homes, look no further than the second-hand economy to declutter, help the environment and make a little extra cash.

According to online marketplace Gumtree’s Second Hand Economy report, Queensland households could earn an average of $5300 by selling their unwanted items.

Gumtree spokesperson Amanda Behre said more people than ever were cashing in on the second-hand economy.

“More than half of Australians have sold second-hand items in the last year and are most likely to spend the extra cash on important things like household expenses,” Ms Behre said.

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“A quarter of Australians say that they’ll most likely spend the money that they make from the second-hand economy on helping reduce some of their debt so, leveraged properly, the sharing economy can become a really useful side-hustle to help lighten the load.

“However, many are also leveraging the sharing economy to pay for that holiday that they might not otherwise be able to afford.”

Ms Behre said the second-hand economy was equally lucrative for buyers with more than 95 million items sold last year, saving buyers an estimated 43% off retail costs.

“The average Australian estimates that they can save almost half buying second-hand over new, so the second-hand economy really is a win-win for both buyers and sellers,” she said.

“This could be especially important as things look to turn tougher economically.”

The main unwanted items in 2019 were furniture, tools, electrical good (including phones and PCs) and clothes.

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Tips for selling online

  • Research the average price of similar items to make sure you’re setting a fair price.
  • Describe the product you’re selling, including its features, a brief history and reasons for selling the item. The more information you provide, the more likely you are to make a sale at the price you’re looking for.
  • Upload high-quality images to make sure your listing stands out from the rest.
  • Ensure you keep on top of messages from potential buyers.
  • Arrange to meet the buyer in a public place and take a friend with you for safety.

The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person's particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.