IF you’ve got a wardrobe full of old clothes you never wear and could do with a few extra quid in your pocket, you’ve come to the right place.
A savvy man who has made more than £35,000 by flogging second-hand items on Vinted, has shared his top tips to making cash quickly.
AlamyA savvy Vinted seller has revealed the best times to list items to make cash fast[/caption] TikTok / @tedfilbySo if you’ve got a loft full of old stuff you want to get rid of, you’ve come to the right place and will need to listen to Ted’s helpful advice[/caption] TikTok / @tedfilbyAccording to this 18-year-old reseller, posting items on Vinted is best done around pay day and at the start of the month[/caption]And according to Ted Filby, 18, a young business owner from the UK, selling items fast on the marketplace app is all in the timing.
Posting on social media, Ted revealed the “best times to list on Vinted for highest chance of sale.”
He explained that thanks to his advice, it has “helped [him] make over £35k.”
While Ted recognised that Friday evenings are a great time to post, he suggested that sellers should upload items to the app during the middle of day, from 12pm to 2pm.
Where evenings are concerned, he recommended listing items between 6pm and 10pm.
And for those wanting to upload their old stuff during the weekend, he recognised between 10am and 3pm as the best time slot.
Not only this, but the savvy content creator also revealed the “best time of the year” to upload items to Vinted, for those wanting to maximise sales.
He stressed that it’s a good idea to list items around pay day and at the start of the month – so you’ll need to get listing items today if you want to make cash fast.
He also stressed that tapping into seasons plays a big part in how fast you will sell stock.
Ted claimed that with summer finally here and the weather heating up, he plans to begin uploading summer stock.
But that’s not all, as Ted recognised that after Christmas is also a great time to sell on Vinted.
And finally, Ted claimed that “discount times”, such as Black Friday, Cyber Monday and Boxing Day, are peak times when shoppers are actively looking on the app.
Do you need to pay tax on items sold on Vinted?
QUICK facts on tax from the team at Vinted...
The only time that an item might be taxable is if it sells for more than £6,000 and there is profit (sells for more than you paid for it). Even then, you can use your capital gains tax-free allowance of £3,000 to offset it. Generally, only business sellers trading for profit (buying goods with the purpose of selling for more than they paid for them) might need to pay tax. Business sellers who trade for profit can use a tax-free allowance of £1,000, which has been in place since 2017. More information here: vinted.co.uk/no-changes-to-taxesSocial media users react
The TikTok clip, which was posted under the username @tedfilby, has clearly left many open-mouthed, as it has quickly racked up 86,800 views.
Good tips for the sellers!
TikTok userIt’s also amassed 3,701 likes, 114 comments and 2,535 saves.
Vinted sellers were thankful for the handy advice, as one person said: “Good tips for the sellers!”
New Vinted rules to be aware of
IF you fancy clearing out your wardrobe and getting rid of your old stuff on Vinted, you’ll need to consider the new rules that recently came into play.
If people are selling personal items for less than they paid new (which is generally the case for second-hand sales), there is no impact on tax.
However, since January 1, digital platforms, including eBay, Airbnb, Etsy, Amazon and Vinted, must share seller information with HMRC as part of a crackdown.
You’re unlikely to be affected if you only sell a handful of second-hand items online each year – generally, only business sellers trading for profit might need to pay tax.
A tax-free allowance of £1,000 has been in place since 2017 for business sellers trading for profit – the only time that an individual personal item might be taxable is if it sells for more than £6,000 and there is a profit from the sale.
However, firms now have to pass on your data to HMRC if you sell 30 or more items a year or earn over £1,700.
It is part of a wider tax crackdown to help ensure that those who boost their income via side hustles pay up what they owe.
While your data won’t be shared with HMRC if you earn between £1,000 and £1,700, you’ll still need to pay tax as normal.
But at the same time, others shared what they do to sell items fast, as one woman simply wrote: “Accept all offers.”
Another agreed and penned: “Accepting reasonable offers, send items the same/next day.”
Whilst a third explained: “I also sell preloved clothing! Shipped either the same day or next day! I accept offers and bundles!!”
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