It's the end of the season, and you have just finished cleaning out your closets. You have a large pile of ill-fitting trousers, out-of-style sweaters and shirts you just don't like anymore. Your old clothes can be turned into extra cash, if you know where to sell them.
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Consignment shops take your items and pay you a percentage of the sale when an item sells. Consignment shops typically pay you between 40 and 60 per cent of the selling price. Most shops will display your clothes between 60 and 90 days, although policies vary from shop to shop. Consigning will not provide you with cash immediately, as most shops pay out at the end of the consignment period. Make sure you have a clear understanding of the shop's agreement before you consign your clothing.
Resale shops will buy your old clothes outright, and you receive the cash immediately. Remember that resale shops buy for the season, so bring your spring and summer clothing in the early spring and your fall and winter clothing in the early fall. Some shops require appointments, while others accept walk-ins. Once Upon a Child and Plato's Closet are two popular resale franchises, selling children's and teenage and young adult clothing, respectively.
You can also sell your clothing on Craigslist, an online local classified ad site. Typically, people selling clothing list the items in lots of several pieces of clothing. Craigslist does not charge any fees for posting an ad or for selling an item.
eBay allows you to auction off your items to the highest bidder. Like Craigslist, clothing is typically sold in lots. eBay does charge a small listing fee and calculates a fee from the item's final selling price.
Having a garage sale is another way to sell your old clothes. Garage sales require you to do all the work: set up, selling and advertising. Garage sales tend to be more effective if you have a wide variety of items to sell and not just clothing.
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