Fashion

Budget Hack: Turn Your Closet Into Cash

BudgetHack_Blog


It’s the beginning of January and you’ve just realized how much you’ve overspent during the holidays. Lucky for you, there is textile gold hanging in your closet. Make your 2014 resolution learning how to sell your gently used, or like new, garments. It’s an important skill that will be a source for extra cash for years to come.

1. Clothing Resell Websites

There are so many websites and apps dedicated to reselling your used clothing! They understand that women are more than happy to trade in their clothing to reinvest into new styles, and these sites are trying to make the process easier.

  • Twice – Download a free shipping label and send your clothes to them! They’ll pay you for what they keep, and donate the rest to Goodwill. If you don’t like their offer, you can reject it and get everything back for a restocking fee.
  • Thredup – Their tagline is “Like a consignment store – but all online!” They send you a free “Clean Out” bag, which you fill with your like-new clothes. If they choose your products, you get paid upfront! They have strict policies on what they will accept, and have a Return Assurance agreement if you want to pay for items not selected.
  • Poshmark – This is a peer to peer resell community. With their user friendly app, you can upload photos of your clothing with details. Poshmark lets you keep 80% of the revenue and sends you a shipping label. It requires some work, as you have to monitor your “closet”, answer product questions, and ultimately ship out the clothing.
  • Threadflip – Another community based resell site, that focuses on peer to peer selling. What sets them apart is that they also provide a “White Glove Service”, and will review, photograph, and sell the products you send them, while giving you 60% of the sale.

2. Trend-Based and Seasonal Used Clothing Stores

These are the Plato’s Closet, Buffalo Exchange, Crossroads Trading Co. of the world. Though there is the immediate gratification of hauling in your clothes and leaving with cash, there is also the displeasure when the store buyers give you less money than expected or completely reject your items all together. Make sure you go to the store prepared:

  • Resale-shop employees say they select merchandise based on what they think they will be able to re-sell. They also take into consideration the age range and styles of their customer base. So a low-budget store like Plato’s Closet typically go for Abercrombie & Fitch, H & M, and Forever 21.
  • Research the store in advance, scan the racks to see what they consider desirable brands. A pattern will emerge! Unlike Plato’s Closet, there are certain resellers that look for expensive brands.
  • Think seasonal! A pretty floral spring dress will not sell in January. Unlike traditional fashion buyers, the second hand resellers are not thinking far into the future. Try to sell your dress at the end of February, when it starts to warm up.
  • Wash, Febrese, iron, and neatly fold your clothes. Presentation matter, even to used clothing buyers.

Low budget stores typically pay $2-$3 per item. So beware, you could bring in $150 worth of items, and leave with $15. Check out Yelp to find the used clothing reseller near you.

3. Direct Sales

Selling your clothing directly to your buyer lets you keep the most profit, but also is the most work.

  • Ebay: The go to amateur seller site will allow users to sell their “properly cleaned” used clothing (minus under garments).  We aren’t going to reinvent the wheel, they are plenty of great resources to show you how to get started: Selling Clothes on Ebay. Your first 50 listings are free, and ebay takes 10% of the total sale amount.
  • Community Sale: Pitch a sale to your community/religious organization, where 50% of the proceeds go to charity. You still keep a decent profit, but also contribute to a great cause.
  • Craiglist: At your own risk! This is definitely the most rule free platform, but for those trying to sell a few high ticket items, Craiglist is a free and easy way to share your product with the Craiglist community, and your own friends/family.

Happy selling, Fabs! Hope the new year brings your health, happiness, and some extra cash in your fashionable pockets.

About Natasha K
Natasha is the Director of Social Media at JustFab; a nomad who has lived in 8 cities; and a proud member of the Social Media “Socialites”. Before JustFab, she led the social media program at indie e-tailer ModCloth. Her personal style can be described as girly, casual and vintage-inspired. Outside of social media and fashion, she is passionate about dancing, crafting, social good initiatives and writing. She has been the publisher of SAPNAmagazine.com, an e-zine for South Asian-American women, since 2004.


read all posts by Natasha K
COMMENTS

24 comments
Adia Shardae
Adia Shardae

Blah blah blah. Haters gonna hate. Of course you're going to get charged 12 days into the month, assuming you're not smarty enough to have skipped, bought, or cancelled your account. As a member for over a year, I have no complaints in regards to how the billing works every month. I've been a member for over a year, and never once had an issue.

Beth Mackay
Beth Mackay

Vanessa, as I have said to many of your colleagues you are not answering my query. I tried ringing I tried emailing and I thought I had already cancelled but then you took more money. You never answer the phone and when you do again you don't get a straight answer you just get an American robot regurgitating the scripts you are obviously given to keep us on the phone and stop us from leaving. I have reported you to watch dog and will be suing you as this money is stolen as far as I am concerned. You are a very underhand company and you should be embarrassed working for them. Now instead of telling Me about your system and telling me to ring up actually answer my questions. Am I getting my money back and is my account now cancelled? These are one word answers yet no one at just fab will tell me!

JustFab Socialites
JustFab Socialites

Hi Ladies, we'd love to answer any questions and clarify our Terms and Policies. Reach our Fashion Consultants 24/7 at 866.337.0906 or via Live Chat M/F 6a-9p EST. :) -Vanessa P.

Beth Mackay
Beth Mackay

Do not join this company, they do not let you leave when you want to. I have written and called 8 times and they won't respond to me they just take the money, beware! I will keep spreading the word until I get my money back and my account is closed. I am also going to sue the if I don't get my money back.

Jennifer DiMieri Taylor
Jennifer DiMieri Taylor

This is kind of a trend, ladies. Clothing clubs are very hot right now and super fun! You get the boutique email that is a reminder to skip if you don't want to shop and you get to pick your item. Most of the others just autoship something to you. It's fun and the stuff is really good quality for $40.

Kristen Williams
Kristen Williams

Just Fab is a HUGE SCAM. Your better off just buying your shoes on Ebay for the same price to avoid the hassle.

Célia Deshayes
Célia Deshayes

Entreprise de voleurs ! Arnaqueurs ! Vous osez prélever sur le compte bancaire de vos clientes "VIP" !! Une honte cette société !!! Vous avez trouver le filon ! Je vais vous faire de la pub moi !

Danielle Williams
Danielle Williams

it is a scam! it's sneaky as anything and I have been told I can't get anything refunded! why is it called an upgrade if it's going to force me to spend $40 every month? The 'warning" email telling me I had the first 5 days of the month to cancel of course went into my spam, so I never saw it and have lost $40. But JustFab has lost a good customer!

NotHappywithJustFab
NotHappywithJustFab

JustFab is a TOTAL scam. Their product SUCKS. They charge you $39.95 and never let you cancel or return items.

Stanley Chawasaz
Stanley Chawasaz

They charged my last 40.00 for that VIP membership b.s. which I told them who in their right mind charges someone to be a member to shop from them. I called and the lady was constantly repeating herself and trying to convince me it was ok. I told her there was nothing to convince me of except how fast my money was going to be put back. I asked for a supervisor and he tried telling me the same thing and I told him I wasn't falling for that b.s. I wanted it refunded or my lawyer would be involved because overall it was a scam and the money got refunded and my account was cancelled.

Diane Menzies
Diane Menzies

I love all my shoes and boots that I've bought from JustFab. I get so many compliments.

Maria Ortiz
Maria Ortiz

I sure did overspend wear my Justfab booties.

Jo Lerberg
Jo Lerberg

Ankeny has a new consignment store called Stuff etc. Does anyone have experience with this chain?

Lanise Joiner
Lanise Joiner

They have the best shoes ever, and at a fabulous price!!!