ARE you a Vinted seller who is forever decreasing your prices to try and get that sale?
Well, listen up! Because you may be missing a super simple trick that’ll allow you to start slashing your prices and still make money at the end of it.
2
2
In a clip shared to TikTok (@business.and.babies), Helen Allson, who made £499.85 in March, explains: “When you’ve had an item on sale for a while, instead of going in and decreasing your price, you’re going to go to the item, edit and you’re going to screenshot all the pictures that you’ve got there.
“Crop them to make sure you’ve just got the picture of the item in it, copy the description that you put and then you’re going to delete that listing.”
Helen says that what you then need to do is re-upload that listing as a ‘new listing,’ creating a fresh listing to Vinted.
“So use the pictures and you’ve got the description already copied, and then just create a title,” she continues.
READ MORE ON VINTED
“Then you’re going to do all the normal things and create a listing.”
Helen then goes on to explain why…
If you suddenly decrease the price, it doesn’t go to the top of the algorithm
Helen Allson
“Because when you have an item that hasn’t sold for a while on Vinted, decreasing the price basically doesn’t really do much unless you have a lot of people who have favourited it,” she says.
“So then obviously it comes up on your feed as someone has favourited the item, but now it’s decreased in price and maybe they’ll want it.
Most read in Fabulous
“But if it’s been in your wardrobe a while, those people who favourited it, probably favourited it a while ago.
“And my experience has been that if you suddenly decrease the price, it doesn’t go to the top of the algorithm, you just decrease the price on your item.”
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.
After deleting the listing and re-uploading the item, something which she does every month, she notes: “Then you get to the top of the algorithm.
“You’ll get fresh eyes on your item, you might get fresh eyes in terms of new people that are on Vinted that didn’t see your item before.
“You’ve got a new listing in your wardrobe so that’s always great because it shows Vinted you’re an active seller which I think they favour, and you’ll get it sold without having to decrease the price hopefully.”
