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01/31/16

Selling prowess: Why getting rid of your items might cost you more

Selling your old items has become popular, chic and the norm when it comes to ridding yourself of what you want.
From eBay to Craig's List and everything in between, online selling has changed the landscape of how you make extra money. Gone are the garbage sales and in their place (even though some still rely on those old fashioned garage sales) are web sites, apps and other technological forums to make getting rid of your old items a snap. 
Literally.
I have the propensity to want to sell everything I'm not using, no matter what it is. From a second fridge to end tables from an old bedroom suit to a dresser or night stand that is sitting in the garage.
But often times I end up losing on the deal if you really think about it, which begs the question is selling items really all that its cracked up to be?
For instance, I bought an iPhone for $200 and ended up selling it, mostly because I got a paid phone from work, for around $100 on Craig's List. So, essentially I'm not making money; I lost $100 on the deal.

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That spare fridge I was speaking about either came with my new house, and I sold it for $300; the retail on it was about $1,000 (even though I didn't pay for it). That said, after I sold it, I realized I may have acted too quickly and ended up buying a second fridge again for $200. Ironically, I found that one on Craig's List, which is the site I used to sell the first refrigerator. I only made $100 on that sale, hardly even enough to pay a minimum payment on a credit card.
If you've had an item for quite some time, and you paid a particular amount for it years ago, and you're able to sell it because you're not using it or get back what you paid, that's considered a win, along with an item that you've used enough to justify the original cost, and you simply want something for it.
But being quick to sell an item of any kind might end up being a poor decision over a long period of time. You may miss having the item, and end up replacing it any way. Furthermore, you might rearrange or move one day and wish you had that dresser that cost you less than it would be to replace it new.
The next time you think about getting rid of the old, consider a new thought: just wait it out for a while.

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