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PUTTING THE WIND IN YOUR RESALESIT'S

Document Cited in Related
Vincent
Published date18 March 2024
Publication titleHuddersfield Daily Examiner
If you're new to the resale revolution and wondering where's best to grab a bargain or sell on old favourites, we're here to help

While buying and selling used clothing and accessories online is hardly a new pursuit, the practice made headlines recently when it was announced reselling platforms are now obligated to report members' earnings to HMRC.

But every seller has a personal earning allowance of £1,000, so you can make that much from your wardrobe tax-free.

Here we share the best places to buy and sell your stuff online. BEST FOR… A BARGAIN Vinted has become many a fashion insider's preferred place to hunt out a bargain. Rather than an auction countdown, sellers upload items with a fixed price, although potential buyers can negotiate using the offer function.

With more than 16 million members, women account for over half of Vinted's sales - the most popular search terms include brands such as Adidas, Converse and Sezane.

With designer buys, shoppers can opt into item authentication on eligible pieces for a fee of £10 where a trained team checks it is legitimate.

Every seller a earning allowance of £

Last year, the platform helped shoppers save an average of £87 per month with their second-hand purchases and the company's first Climate Change Impact Report found that shopping on the app saved an average of 1.8kg CO2 in comparison to buying new.

Further adding to the cyclical second-hand movement, earnings are accrued in your account and can be spent as credit for shopping on Vinted or withdrawn to a preferred bank account. ¦ FEES: No seller fees. Buyers pay a protection fee, ensuring fuss-free refunds should anything happen to goods in transit. ¦ See vinted.com BEST FOR… TRENDS With almost 30 million reg- istered users, Depop is the perfect place to source hard to find and "hype" trend items from brands such as Supreme...

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