Consumer Watch: How to profit from cleaning out your closets

Money tile
Money tile

I've got a lot of "stuff" in my closets and would like to make some money from selling it. Do you have any pointers? – Sarah Salvage

Dear Sarah: You're a smart cookie to think of making profits from "salvaged" items, and summer is the prime season for sales. Hopefully, other readers will take note and so the same with areas for hidden cash. One suggestion from SmartMoney magazine is to hold an estate sale (and, no, you don't have to be dead for this type of sale) rather than a yard or garage sale. Just don't think you'll get rich, unless your attic or basement holds fine art or rare books, in which case you should contact collectors and auction houses.

Collectibles: Everyone has some of these. When in my 20's, I held a yard sale and sold several sets of colored Depression Glass from my first marriage for a mere pittance. Several customers later, a dealer came along and, when told what I'd done, clapped his hand to forehead and, basically, proclaimed my stupidity! The moral of this story is to know your collectibles. For instance, tin toys, porcelain dolls, and any toys made during the childhood of us Baby Boomers can be most valuable. Vintage movie posters or cameras also take a nod for many buyers.

Books and records: Aside from rare books, those signed by the authors can be worth some bucks so get these appraised, along with first or limited-edition books. But even a collection, such as Shakespeare's plays or the works of Tennessee Williams, for example, can fetch a decent price. And speaking of profits, if you own an obscure LP that's unscratched and in its original sleeve with, say, the Beatles or the Stones, and the right person comes along, he could pay several hundred dollars in return. Alternately, leather-bound classics or jazz/60's LPs in good condition can also bring you a pretty penny. Even paperbacks for 50 cents to one dollar or and hardbacks for a dollar or two sell quickly to readers.

Furniture: According to SmartMoney, mid-century modern furniture from the 50's and 60's is especially popular. The article goes on to tell us a piece that sold for approximately $100 during the early part of this past decade now may bring as much as $400. Furniture less than five years old is also a good seller, particularly if it's made of light wood and isn't hefty. (Clunky dark pieces aren't currently fashionable, so these pieces don't normally move.)

Clothing: Most anything vintage and in appropriate shape will sell (though you may do better at a vintage clothing store). Expect couture clothing to be snapped up, too, such as St. John, Chanel, and Gucci. "Sex and the City"-style designer clothes are good sellers, as well. Forget run-of-the-mill articles at an estate sale, unless priced cheaply.

Tools: These can really be pricy, so they sell especially well at estate sales. If they're antique tools, so much the better. As mentioned in a past column, one of my Virginia friends buys antique tools and mounts the pieces in his den – an unusual display and one even his wife doesn't mind.

Contact Ellen Phillips at consumerwatch@timesfreepress.com

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