How to Make Money From Your Closet

Whether you’re looking for an additional side gig or simply wanting to fund your latte habit, selling your old clothes is a great way to make some extra cash, not to mention free up some space in your closet for any new purchases in the future. There are plenty of online and in-person platforms to sell used clothes, but this post will primarily focus on selling on Poshmark. This post is not sponsored by Poshmark in any way and all opinions are completely my own. 

 

I took a year off after graduating high school to find myself. I wanted to truly figure out who I was and who I wanted to become, and part of that involved reexamining my closet and redefining my personal style. Utilizing a mix of the Marie Kondo method and my own critical eye, I ruthlessly purged my wardrobe and put everything that I no longer wanted into a big pile. I donated a part of the pile, but there were some items that I didn’t want to just let go of. I was familiar with consignment stores and second-hand shops and decided to try my hand at selling some items of my own. Within a month or so, I made over $1000 selling clothes from my closet that I no longer wanted on Poshmark.

Poshmark is an online platform that allows you to buy and sell clothing, shoes, accessories, and cosmetics. It caught my attention because its selection includes not only used items but new ones as well. All you have to do is take some photos of whatever it is that you are selling, write a description about it, set a price, and list it! The process is simple and gives you a lot of freedom in everything from the presentation of those items to the amount that you make. They even provide a printable, pre-paid label, so all you have to do is drop off the box at the post office and you are good to go. Like many other consignment and resale clothing stores, Poshmark does take a portion of your earnings. 

Here are the seven steps to take to start earning money from your closet: 

  1. 1. Identify the Items You Want to Sell

    The first step of this process would be to thoroughly go through your closet and pick out the items that you no longer want. Make sure that they are clean and free of holes, missing buttons, broken zippers, etc. Generally, you would only want to sell the ones that are either new or gently used, but if the condition of your item leaves something to be desired, be honest about it. The buyers are able to rate you and leave reviews so you want to be upfront about everything. Also, being honest it is just a decent thing to do! 

  2. 2. Photograph Your Items in Good Lighting 

    You want to aim for 4-5 photos of your item. You are allowed to add more photos to the listing, but around half of the photos should be of either the item itself or of you or someone else modeling the item. Be sure to include up-close shots of any particular details/branding/features worth showcasing. 

  3. 3. Choose a Good Cover Photo

    For your cover photo, go with one of either you modeling the clothes yourself or a photo from of the model wearing the same outfit from the store you purchased it from. Remember- this is the first photo that potential buyers will see so you want it to properly represent and showcase the item.

  4. 4. Write a Catching Description

    Be as descriptive as possible in your descriptions. In addition to talking about the condition of your clothing and pointing out any flaws, touch on the fit and material of the item and even give some tips how you would usually style it. The longer the description, the better. This is your chance to really utilize those savvy writing skills and convince the buyer to purchase your item.

  5. 5. Set a Price for Your Item 

    Here comes the fun part. You are required to list the original price of the item and also the price that you are selling it for. Remember to factor in the shipping cost that the buyer will have to pay ($6.99 flat rate) when doing so, because you don’t want the cost of your item and the shipping be more than what the item would cost in stores. Keep in mind that the buyers are also able to negotiate! Price the item a few dollars higher than what you would expect to make so that if potential buyers try to negotiate with you, you can mark down the price without feeling like you are “losing money”. Another general rule of thumb if that if your item is new, you want to list it for around 60% of the original price and if it is used, around 40%. The exception would be if your item is highly popular and/or sold out. For example, I bought a few pairs of boots and heels on Zara’s website for $9.99 and $19.99 each and were able to sell them for around $40 a pair because they were completely sold out online and in-stores.

  6. 6. Ship the Item to the Buyer

    Congratulations! Your item has been sold. The next step would be to neatly package the item, print out the shipping label, and drop it off at the Post Office. Poshmark emails you a Priority Mail shipping label and because of that, you are entitled to use boxes from USPS to package your items for free. As soon as the box is scanned into the postal system, you and the buyer will both receive tracking information and they will receive it in two or three days. 

  7. 7. Start Making Money

    After the buyer receives and accepts your item, your earnings will be deposited into the bank account that you provided at the time of signing up. Expect to earn 80% of the final price, as Poshmark charges a 20% commision from every item you sell. 

The beauty of Poshmark is that it is really versatile. You can sell anything- women’s clothing, men’s clothing, children and baby clothing, shoes, accessories, makeup...the list goes on. As you have gathered by now, Poshmark is not only a wonderful platform to sell but is also an online store where you can purchase a wide range of clothing at an affordable price. In addition to being wallet-friendly, shopping second-hand is also an easy way to do your part for the environment. Use the code ROSESCLOSETXO for $10 off your purchase when you sign up!