That “Calgon, take me away” moment some of us remember from the decades-old commercial is one for which many people yearn. Some even take it further, ala Elizabeth Gilbert, who in the bestselling book “Eat, Pray, Love” ditched everyday life for a year-long worldwide quest for self. For many, however, particularly those with family, job and financial responsibilities – finding the time to take a bath is unrealistic, let alone, a trip around the world.
Wheels in Motion
Maybe a life-long dream of trekking the world isn’t the answer, but most of us do have the ability to earn “free” money-to take a small getaway, or even create a getaway in our homes.
With this idea in mind, and to wholeheartedly pursue what I believe is my life purpose, I set out to release myself from distractions that continue to tug at time and energy. This included letting go of material possessions that no longer were useful in pursuit of my quest. The upside is this decision put a significant amount of cash in my pocket to fuel said purpose. On fire to achieve the mission, I researched craigslist.com, consignment stores, pawn shops and eBay to see which methods quickly garnered cash.
Some of the items I chose to release were highly treasured and difficult to let go (artwork, a large and ornate “leaner” mirror, my Kirby vacuum) and others highly expensive (limited edition Waterford crystal, limited edition figurines, again-the Kirby vacuum). But I kept my eye on my goal-and set out to make a buck.
When selling items that mean much to us, the value isn’t as great to the buyer-so I thoroughly explored the going price for similar items online. I then put a strategy in place to get the most for my “stuff.” The strategy? Post items to Craig’s List, and whatever didn’t sell would go to eBay, consignment or a pawn.
Here’s a rundown of the different methods:
Garnering Quick Cash
Craig’s List (www.craigslist.org)
At first glance this online classified ad website can be daunting, but further inspection reveals an easy, free and effective way to attract buyers. Sellers, or advertisers, can go directly to “post to classifieds,” on the site’s homepage and within minutes have an ad that’s ready for viewing. Though I found it to be minimal, the most expense here is time-time to post the ads, take photos, and to respond to interested parties.
Of the methods used, Craig’s List was the most convenient and fastest way to sell as buyers purchased many items the same or next day. Listings were posted in mere minutes and I didn’t need to arrange transportation or leave home to coordinate transactions.
Eighty percent the listings here sold immediately and at or above asking price, and buyers often purchased additional items when picking up their purchase. Of the methods used, it was the simplest, easiest and most profitable.
eBay (www.eBay.com)
To lessen the learning curve associated with using eBay (Creating an account, choosing options, ascertaining fees, navigating the auction process, setting up Paypal and shipping.) I decided to use a “walk-in” eBay agent.
After comparing policies local agents, I chose WalkIn Auction on 6th Avenue-its commission structure seemed fair (starting at 38 percent vs. 50 percent elsewhere), and a 100 percent money back satisfaction guarantee provided security.
Sellers simply take in items for inspection, and WalkIn Auction manages the process from beginning to end–taking photos, listing the item, managing the process, receiving payment and shipping to buyers. Because it is an auction process, an item may garner a large sum or very little-all dependant on the winning bid. Sellers typically receive payment via check between three and seven weeks after dropping off items to sell.
Six weeks after drop-off, seven out of nine items sold and I received a check for less than a third of the average value compared to similar items sold on eBay at the time of drop-off. Still, it was a decent-sized check and the process was simple and quick–only requiring transporting items to the store and pickup of anything left unsold. Payment however takes longer and, even before eBay fees and auction commission, was substantially lower than offers given by Craig’s List buyers who’d seen the items in person. Though it took some discussion, the owner honored her money back guarantee and didn’t charge commission for higher-dollar items the company had listed for less than I requested.
Consignment Stores
Good conditioned, up-to-date furniture and decorative accessories like table décor, mirrors, throw pillows are the types of items that sell well in consignment stores. I took such items to Joy’s Consigned Furnishings in the Happy Canyon Shopping Center at I25 and Hampden. The store’s staff, each of whom have 15 or more years of design or furniture industry experience, stay current on décor and design trends and use that knowledge when accepting goods.
Working with Joy’s was simple-again, only requiring drop off. Items they believe to be saleable are inventoried and priced, typically on-the-spot, then merchandised into the store. The store takes 50 percent of the selling price upon sale (On the showroom floor, an “advertising charge” of 15 percent is added to the agreed-upon sale price, but it doesn’t affect the seller’s commission.) Every thirty days, items are marked down and after 90 days sellers must pick up unsold items or they are donated to charity. Commission on sold items is calculated each calendar month, and a check is mailed to the seller on the 15th of the next month.
Because I dropped of so many items, the checks were substantial, though a mere fraction of original value and (if you include the “advertising charge”) less than half of the selling price. Because the items I sold at the store were large, I also incurred transportation cost for movers. About eighty percent of the items I consigned at Joy’s sold within 30 days, with many selling within a few days. It was a pain-free and pleasant experience, and the staff was helpful at every turn.
Pawn Shops
Curious about all the recent television advertisements to “sell gold for top dollar,” I researched avenues to sell unused jewelry. After reviewing wholesale jewelers at the Denver Merchandise Mart, retail jewelers who purchase or consign “pre-owned” jewelry and pawn shops, believe it or not, local pawn shops provided the quickest turn and most cash.
Only retail jewelry consigners were interested in anything non-diamond solitaire or gold related. A retail jeweler offered a third less for a diamond than the pawn shop I settled on, and had I waited another day, a wholesale jeweler actually would have netted me 800 dollars more than my final sale price. But, as that wholesaler himself told me, “a bird in the hand is worth two in the bush,” and the day before, he didn’t have a buyer to match the cash price the pawn shop offered.
As far as gold-I checked a few stores advertising to “pay top dollar.” Comparing prices, I sold gold to a different pawn shop than where I sold the diamond as the second store offered 20 percent more. In the end, I sold gold jewelry that hasn’t seen the light of day in years for hundreds of dollars, and netted almost as much as the original cost of the jewelry. As for the diamond, I received about 25 percent of the value, but since it was purchased at a great price, I actually netted about 50 percent of its original cost, even though it was worn for more than a decade. Each pawn shop “appraises” your items on-the-spot and pays cash immediately.
Surprisingly Richer
Putting in a little legwork actually can net quite a few dollars for good-conditioned items that may be lying around the house, office, even the car. Larger scale items like unused computers, cars, old jewelry, even old clothes, wedding dresses and décor pieces can make you a few dollars, or a few thousand dollars richer-and in a hurry. Whatever doesn’t sell can be donated and garner a substantial charitable deduction on next year’s taxes.
By taking a minute to assess things sitting worthless in your possession (perhaps a drawer, closet, basement, attic, or even on an easily-seen shelf), you can gain cash resources to create a serene place in your home, take a jaunt to special place, or even finance a year-long quest for self around the globe.
Doni Luckutt is a writer, author and speaker who believes by increasing interpersonal connection, we can stop simply living, and become Simply Alive! If you have a suggestion on what brings you to life, connect with her on Twitter @SimplyAlive, via email Doni.Luckutt@SimplyAliveWorld.com or on her blog: www.SimplyAliveWorld.com/Blog.
