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THE BEST WAYS TO SELL YOUR STUFF

By The Editors Of consumer Reports® 4 min read

You may not have a masterwork, or even a minor work, hiding in a storage unit. But your basement and attic may be bursting with possessions you no longer want, and you might be surprised by the amount you can pocket if you know the best ways to sell your stuff, according to Consumer Reports.

You’ll make the most money by matching your goods with the best places to sell them, whether it’s an auction house, a consignment store, a website or a yard sale. Just keep in mind that the IRS may want a cut of your profits. It taxes the proceeds from the sale of collectibles as capital gains, generally at a rate of 28 percent.

Under IRS regulations, collectibles include works of art, rugs, antiques, metals (such as gold, silver and platinum bullion), gems, stamps and coins. Your profit or loss is the difference between the basis, usually your purchase price, and the sale price. If you end up selling your goods at a yard sale, however, it will likely be for much less than you paid for them, so you probably won’t owe any tax.

Consumer Reports provides an overview:

Auction Houses

You’re probably familiar with well-known auction houses such as Christie’s and Sotheby’s, which sell fine artwork and rare antiques for millions of dollars. But there are lots of regional auction houses across the country that will handle less rarefied goods.

A local auctioneer can give you an idea of what he or she thinks an item you own will sell for at auction. You can locate an auctioneer and auction houses in your area by clicking on the “Find an auctioneer” button on the home page of the National Auctioneers Association website. The group’s more than 5,000 nationwide members must adhere to its code of ethics.

Sell what’s in demand. You’ll probably get the highest price for a bona fide antique or a collectible in mint condition by selling it at auction.

Consignment Shops

Many stores now have an online presence, so more shoppers can see your items. There are also some consignment stores that exist solely online.

Sell what’s in demand. Shop owners generally want top-quality furniture, and some take only antiques. Other items, including clothing, sporting goods, household goods, jewelry and artwork, should also be in great shape. Clothing, in most cases, should have been bought in the past year or two so that it won’t be out of style.

Online Sales

Putting up your items on eBay or Amazon will attract millions of potential buyers. You’ll need some marketing savvy to make your offerings stand apart.

Sell what’s in demand. One-of-a-kind items, gently used sporting goods, clothing, electronics and popular collectibles sell best, says Lynn Dralle, who runs TheQueenofAuctions.com, a site that helps people sell goods on eBay.

Consider posting easy-to-ship items on a site such as Amazon or eBay. If you have heavy, bulky items to sell, try free online listing services such as Craigslist. The ads are divided into local regions, allowing buyers to pick up items themselves.

Yard Sales

Although planning and running a yard sale takes up a lot of time, you don’t have to pay anyone a commission on the money you make. But before you post signs, Consumer Reports recommends calling your town’s government office to see whether you are required to get a permit to hold a sale. If you do, it will probably cost only a few dollars, but the cost of a fine for neglecting to get one could wipe out your profits. Ask whether there are restrictions on where you can post signs to your sale.

Sell what’s in demand. Just about anything that’s not precious enough to put in an auction, consignment shop or online — including broken items, which people may buy for parts — is fair game.

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