So, let’s get started. What clothes could you sell? What should you invest in (aside from more sweats)?
The fashion resale business is booming and that forgotten blazer at the back of your wardrobe can pad your bank account in today’s active reseller market. During the pandemic, eBay Canada’s offerings have grown, with the company recording double-digit increases of fashion listings by Canadian sellers in October 2020 (compared to October 2019).
“Getting rid of things started out as clearing out my own closet, but it eventually grew to me helping out my parents, then close friends and family pre-COVID,” says Lawrence Levinson. As the president and chair of Customer Experience Professionals Association (CXPA), he’s busy with a full-time gig, yet during the pandemic Levinson found the time for a major purge, selling his old clothes, musical instruments, and even a car online.
How to make money selling your clothes
Levinson has been a part-time purger for years. In addition to clothing, he has resold musical instruments, furniture, kids toys, even a car on eBay and has made over $25,000 in his 22 years of selling. Of that total, $10,000 was made just from his closet, and it takes him anywhere from one day to two weeks to close a sale and generally, rare or coveted items sell faster.
“I sold an old Peter Gabriel concert T-shirt with visible stains and signs of wear on it, and [I] highlighted them in the description to be transparent, and it still sold for US$40,” he says.
Selling your gently used items either online through sources, such as eBay and Kijiji, or via consignment stores, can bring in the money to pay for investment pieces (luxury clothes and accessories that you had once treated yourself to). How much can you make? It depends.
If you choose to go the consignment store route, sellers can generally earn up to 25% of the selling price in cash or receive an in-store credit of up to 50% of the selling price. LAB Luxury Designer Consignment is one of the reputable online consignment stores in Canada, which also include Mine & Yours, The Upside and Valamonde.
Kijiji, Facebook Marketplace and other similar buy-and-sell websites offer quick and primarily local selling opportunities, while eBay, an online marketplace that has been around since 1995, allows sellers access to local and international buyers.