01 June 2023 , 06:00
728
0
Clothing, mobile phones, and games consoles or equipment are the items that make the most money – when sold second-hand, a study has found.
Toys, books, and computers or laptops are other lucrative pre-loved items – while shoes, jewellery, furniture, and sports or exercise gear round off the top 10.
A poll of 2,000 adults found that the typical Brits has £341 of old, unused possessions lying around their homes gathering dust – which could be sold for a profit.
Platforms such as social media (18%) or Depop (44%) are becoming increasingly popular when it comes to reselling.
And of the 85% who have sold pre-loved items, they have earned an average £20.17 per sale – raking in a total of £126.24.
Martin Lewis issues 8-week warning to phone users ahead of huge price hikes
In fact, over half of those (53%) who have got into reselling see this as a good side hustle to supplement their primary income.
But while 19% resell regularly, 36% of those still considering it admitted they are unsure of how to go about it.
And 23% have no idea that their unwanted possessions could earn them money – potentially missing out by not joining the emerging trend, according to PayPal’s Resale Renaissance Report.
Vincent Belloc, general manager at PayPal UK, said: “It's no surprise we’ve seen a boom in the second-hand economy with high inflation.
“You may have items that you could supplement your income by selling, stored in your attic without realising.”
The research also found that as well as selling items, 25% regularly purchase pre-owned goods – spending an average of £71 per year.
The pre-loved items at the top of their shopping lists include fashion (38%), books (31%), and furniture (13%).
Of those who do buy second-hand items, 67% named saving money as a key reason – while others want to be more sustainable and help reduce waste (35%), or want to purchase one-of-a-kind items (23%).
It also emerged the most popular destinations to buy second-hand clothing and items are still charity or thrift shops (52%).
And car boot sales (20%), market stalls (14%), and direct from friends and family (17%) are still popular ways to shop for second-hand bargains, according to the stats, by OnePoll.
Martin Lewis urges everyone with a mobile phone to send two texts to cut bills
However, half of those polled sometimes worry about the quality of pre-owned items they might find when they’re buying online.
Vincent Belloc, for PayPal UK, added: “While the second-hand economy is booming, our research shows that people are still concerned about the quality of second-hand items they buy.
“When buying or selling peer-to-peer, via online marketplaces, or at car boot sales or on the high street, it’s important to ensure your payment information is safe and your purchase or sale is protected, in case it’s not as advertised.”
TOP 10 PRE-LOVED ITEMS THAT MAKE THE MOST MONEY:
- Clothes
- Phones and Internet-enabled tablets
- Games consoles, games, and gaming equipment
- Toys
- Computers or laptops
- Books
- Shoes
- Jewellery
- Furniture
- Sports and exercise gear