Selling your unwanted clothes, furniture or old kids toys can be a great way to make some extra money back on the items. Selling platforms offer us a way to reduce waste and shop second-hand whilst also making money back.

 

eBay VS Depop VS Vinted

 

eBay

A popular online selling platform since its launch in 1995 allowing people to sell unwanted second-hand items and resell items.

Each month you are allowed to list 250 items without paying a listing fee, any amount over this there will be an initial fee which depends on the price of the item.

When you sell an item you will be charged 10-15.55% of the item price to pay for using the services eBay provides. This takes away from your overall output.

An advantage of using eBay is being able to sell larger items and offering the option of collection to avoid the postage charge.

 

Vinted

Growing in popularity with over 100 millions users with the aim to encourage buying second hand goods and making use of unwanted items rather than wasting. With just 18 million users in the UK the site has become one of the preferred ways to shop with the affects of fast fashion being uncovered.

The great things about Vinted is that there are no listing or selling fees so you can put up your items without worrying.

The postage price is also incorporated into the price the buyer pays so you won’t lose out on a single penny.

On vinted, the average prices are lower than on other platforms and buyers are less likely to pay high prices and more often will negotiate for a lower price.

 

Depop

This platforms has a focus on unique finds, handmade crafts as well as secondhand items and clothes.

This could be a great platform to start making money from your crafty hobbies whether that is sewing, crochet or making jewellery.

Since it’s launch in 2011 it has gained around 35 million users.

Depop is rated easy to use and the site takes care of shipping prices for you.

They got rid of their 10% commission charge for sellers meaning there is now more money to be made.

 

Will I be taxed?

When selling on online platforms you will not be taxed for money you make until it reaches the tax threshold of £12,507 a year. If sell and make more money then this you will have to report this to HMRC.

Selling on any of these site to have a clear and make a few extra pounds on the side will not result in paying tax.