How to Make Money Flipping Thrift Items – MoneyMagpie

Alexandra



5th Feb 2024

Reading Time: 6 minutes

If you’re looking to increase your cash inflow but you enjoy shopping a little too much, we might just have the perfect solution for you: flipping thrift items.

We appreciate that flea markets and charity shops are not exactly as glamorous as London’s Oxford Street, yet the shopping experience can be even more rewarding when you find the perfect pieces. All it takes is an eye for good brands a little entrepreneurial flair and you can make some great profit on the resell value of each item.

popular book sets and university textbooks. The Harry Potter, Hunger Games or Lord of the Rings book sets sell on eBay for around £50 depending on the condition. Also try to find a bargain price on one of the classic and timeless book sets, like Little House on the Prairie, they can be a great investment.

Although most university textbooks update their editions each year, most changes are only minor, while the structure and main content stay the same. While lecturers use the latest editions, they often encourage students to buy the older versions due to their smaller prices and almost identical content. However, even second-hand textbooks can sell for £30 a piece depending on the edition.

do your research – you’ll find things like iron pans, Pyrex, or even a rare vintage pottery find will fetch a pretty penny!

Cast iron cookware, for example, can be bought from thrift shops for a fiver and sold on websites like eBay for £20-£30. Vintage retro designs are increasingly popular, too – and often end up in charity shop piles.

broken tech we’ve stashed in a drawer somewhere. Make sure you wipe any hard drives and put things back to factory settings before selling.

Vintage games consoles

Look for vintage computers and games consoles, too. You’ll be surprised how much these can fetch! A pristine, working-order Nintendo 64 could easily fetch you upwards of £50, more if you have games, too. Other tech, like Super 8 camcorders, can also be picked up for next to nothing and sold to collectors for a LOT.

NextDoor app, or Gumtree, set out the condition of the item very clearly. Be honest! You’ll come across ‘tyre kickers’ who want to view a product then try to knock the price down. Don’t let them waste your time: lay out the condition of the item and the terms of the sale (such as ‘buyer must collect’) in the product description.

Promote your items

When you’ve got a few items to sell, consider creating a brand for yourself. This will help you market your items across social media channels and online. You can even create your own website using something like Wix or WordPress if you want to turn this hobby into a full-time career!

Register with HMRC

If you’re making consistent profit from flipping thrift items, this counts as a business. Anyone earning over £1,000 a year from hobbies like this must register as self-employed with HMRC and file a Self Assessment tax return by January 31st every year.

More Ways to Make Money

Flipping thrift items is just one way to make money in your spare time. Check out these articles next for more ideas!