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Home / News / Business / What to do after cleaning out your closet

What to do after cleaning out your closet

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THE WEATHER is changing and, for many of us, it’s time to trade in our shorts for jeans and T-shirts for sweaters. This is the perfect time to go through your closets and drawers to get rid of the things you won’t want come next year. You might even be able to make a little money to fill them back up again!
There are several options to consider.
Donate. There are many great charities and nonprofit thrift stores that will gladly take gently used items off your hands. Some will even pick them all up if you’ve done a big enough cleanout.
As well as helping people who might need a hand, you can also take a tax deduction for your donation, so don’t forget to ask for a tax receipt when you drop it off if you want to take a deduction. Some charities offer information on how to value your donations for this purpose.
You should also know that for-profit thrift stores also accept donations but, while they might support local nonprofits, only a small fraction of the sales price for your goods will actually go to those charities.
Sell. You can always go with a good old-fashioned yard sale, when you get to keep all the money you receive, or take your clothes to a brick-and-mortar consignment store, where you split the sales price – usually 50:50 – with the store. But, with a bit of research, you might find online outlets that will work even better for you.
There are some things to consider if you decide to use a website.
What is the site’s focus? No matter how cool they are, you don’t want to try to send your cowboy boots from a western outfitter to a site like therealreal.com that specializes in designer and luxury items. Most sites will post a list of the brands they accept and what they are seeking. If you have a wide range of brands and types of clothing to sell, you could end up using a few different sites.
Who does the work? In most cases, the more work you are willing to do, the more money you stand
to make.
For example, with a site like eBay, you do all the work of taking photos, writing descriptions and posting listings. You also set your own prices and only pay a percentage-based fee to the site.
With a site like thredup.com, however, you can send in a bag of your items and the site staff will do all the work. In this scenario, you stand the chance of having some of your items rejected – and even discarded – or perhaps selling for less than you think is fair.
What happens with returns? Not all buyers will be happy with their purchases and there will occasionally be returns. Be sure to understand what happens in that instance.
How and when are you paid? Review the fine print for how you receive payment. Are you paid when the site accepts your items or when the goods are sold? Is the payment in the form of a credit on the site or a check? How much of the selling price do you actually receive? All of these things can factor into your decision about which service to use.
How and when are you paid? Review the fine print for how you receive payment. Are you paid when the site accepts your items or when the goods are sold? Is the payment in the form of a credit on the site or a check? How much of the selling price do you actually receive? All of these things can factor into your decision about which service to use.
Jordan Rzad is the senior director responsible for internet marketing at Houston Better Business Bureau.

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