BRINGING in extra cash each month can make a real difference as the cost of living remains high.
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One savvy dad has come up with a super simple way to do this – by re-selling unwanted tech and electricals.
Sam Kumar has already raked in a huge £667 this year alone from selling a selection of items that would otherwise be gathering dust at home.
The 51-year-old, who lives in west London with his wife, Mandy, and their son, Marley, age 15, also made £400 in December.
The dad-of-one who works for a tech start-up, isn’t new to making a bit of cash on the side from having a clear out.
Over the past decade, he estimates he’s made tens of thousands of pounds selling everything from shoes and clothes, to sports equipment and watches, on sites such as eBay, and Facebook Marketplace.
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However, he’s currently finding he’s getting some of his biggest successes from selling old electronics that he no longer uses.
Over the festive season and after, he says people are looking for budget-friendly gifts or for bargains to spend their Christmas money on, making it the best time to sell.
As much as £178.5billion worth of unused electricals are currently gathering dust in homes across the UK, according to estimates by the industry group Recycle Your Electricals.
This includes mobile phones, laptops, games consoles and smart watches.
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“It’s the most logical thing to do when you’ve got loads of old tech sitting in drawers,” said Sam.
“It’s an easy way to get rid of stuff we already have but no longer need. And I love the fact I get to make money at the same time as giving items a new lease of life.”
According to the side hustle expert, electricals sell really well.
“My son’s a big gamer, so we have a lot of tech in the house,” said Sam.
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“From experience, I know that the start of the year is a good time to make money re-selling tech, so we decided to have a big clear out.”
Sam did a big push in January, and his efforts bagged him almost £700.
“Items I sold included a gaming PC for £260, which I’d bought for £450, and a monitor for £80, which I’d bought for £120,” he said.
“There was also a keyboard and mouse which I’d bought for around £30, and sold for around £12, and a few HTML leads which I tend to sell for around £2 or £3 each.”
While Sam sells a lot of old tech on eBay, he also does well from Facebook Marketplace.
“The advantage of this platform is that you don’t have to pay postage,” he said.
“This means you can make a bit more cash with each sale. By contrast, if you need to post a PC that you’ve advertised on eBay, you need to invest in a decent box and packing to make sure it doesn’t break – and then cover the cost of postage, too.”
With eBay, you can list up to 1,000 items a month for free.
After you’ve used that allocation, you’ll need to pay 35p for each extra one created. Once an item sells, you pay a commission fee of 12.8%, including postage.
There’s also an additional 30p ‘fixed fee’ per order. This fee is automatically deducted from your sale.
“As a seller, there’s some good money to be made from old electricals,” said the tech whizz.
“But it’s important not to get too fixated on a price. When selling on eBay, I’m happy to take offers’ from buyers who want to go with the ‘buy-it-now’ option.”
Wipe it first
Crucially, before advertising tech on any selling platform, you need to ensure you’ve destroyed any data on your devices.
New research from Recycle Your Electricals shows one in five adults in the UK are still holding on to unused bits and pieces because they’re concerned about how to delete and transfer the data properly.
“You need to reset the item back to ‘factory settings,” said Sam. “It’s important to make sure you’ve wiped your data properly.
“I once sold a Nintendo 3DS which my son was no longer using,” said Sam.
“But I forgot to delete our data before handing it over. I ended up having to do a video call with the buyer so that this could be done safely.”
How to destroy your data
Before passing on your smart device for reuse or recycling you need to permanently delete all personal and private data so that it can’t be retrieved, say Recycle Your Electricals.
Just deleting data means it can still be accessed, including by criminals. Instead you need to destroy it.
- Back up important files, such as documents and photos, and transfer them to your new computer, an external hard drive or iCloud. Remember to record the licence numbers of software you may need to reinstall on your new devices
- Sign out of all accounts on your device
- Destroy your data
- If possible, remove any SIM or memory cards
You can read a useful step-by-step guide for data deletion on Recycle Your Electricals website, including for:
- Apple and Windows laptops and computers
- iPads, iPhones and Android devices
- Games consoles, cameras, printers and external hard drives
Or, check the device manufacturer’s website.
While it’s advisable to ensure tech is in working order before you sell it, Sam says there may be willing buyers for certain items even if they are broken.
“You’ll often find there’s a hobbyist out there who will be happy to buy particular bits if they know they can repair them,” he said.
“I recently sold an old iPad which was cracked – and got £10 for it.”
One of the big motivating factors for Sam has been making a bit of extra cash to help with the family finances.
“We’ve certainly felt the effects of the cost-of-living crisis,” he said.
“We’ve especially noticed it on the weekly shop, food prices seem to have gone up around 10% to 20%.”
While Sam made a bumper amount in January, he manages to make a bit of extra cash every single month from selling the odd few bits – albeit the total is usually closer to £40.
“Any extra income can help with the household budgeting,” said the tech enthusiast.
“And if there’s cash to spare, I love spending money on badminton stuff – as I work part-time as a badminton coach at the weekend. It’s one of my biggest passions.”
Another motivating factor for Sam is his desire to do his bit for the planet.
“I’m big on recycling,” he said.
“As a family, we try to recycle and re-use as much as we possibly can. Selling old tech and electricals is a great way to declutter your home – and reap the benefits while doing so.”
How to get started
Boosting your income by selling old electricals and cashing in on tech is something that anyone can do, according to Sam.
Here’s his top tips to get you started.
As well as selling sites such as eBay and Gumtree, be sure to check out local groups, too, such as Facebook Marketplace.
Whichever one you use, check out the pros and cons and terms and conditions first, so you know what to expect.
For example. with Facebook Marketplace there’s no fee and often you can ask the buyer to pick up for free if they are nearby.
On the other hand sites like eBay will usually have fees, and you’ll have to factor in delivery costs, but you’re likely to reach more potential buyers.
Understand data deletion to ensure you wipe any personal data before you re-sell any item. You want to ensure you are selling unwanted electrical items safely.
Don’t get too hung up on achieving a particular price for any one item. Focus on more on getting things sold.
Don’t assume you can’t sell an item because it’s broken. You may well find a hobbyist willing to buy it and repair it
If you really can’t find a seller for an item, then look to recycle it. Don’t just throw it away. Remember that anything with a plug, cable or battery should never be binned – and should always be reused or recycled.
To find your nearest recycling centre, head to Recycle Your Electricals’ recycling locator tool.
How much can I make?
As a guide, an unwanted mobile phone could fetch you between £75 and £554, and an unwanted tablet, between £50 and £649.
Even an unwanted kettle could sell for between £15 and £116, and an electric toothbrush, between £18 and £105.
Though the exact amounts can depend on the condition and how much someone is willing to pay at the time.
Be aware that newer, higher spec and branded items of unwanted electricals will command higher prices than lower spec and unbranded items.
Top tips for selling your tech online
You could be making decent amount of money digging out old tech, doing a little prep, and selling them. Here are some top tips from Recycle Your Electricals.
Sell soon to get the best price: Electronics lose value over time, especially after the launch of new models. You tend to get better prices for more recent models. So once you’ve stopped using a device, don’t hang on to it for long.
Look after your device: Keep your devices in good condition and you’ll tend to get a higher price. Make sure they’re well maintained, avoid drops and bumps, and use cases to prevent damage.
Clear descriptions and good images: When it comes to listing an item, write a descriptive advert title and provide as much detailed information as possible. Include brand, colour, size, model number, and any damage. High-quality images increase buyers’ confidence.
Price fairly: Research similar listings, including in your local area, to understand the market rate for your item. Fair pricing boosts the likelihood of a quick sale.
Be responsive and open to negotiation: Respond promptly and honestly to buyer inquiries. Negotiation is part of the second-hand shopping experience so be open to reasonable offers.
Lean in to Sunday scrolling: Post your listings over the weekend when platform activity peaks. Sundays are when online marketplaces see the most engagement – hence ‘Sunday scrolling’.
Include accessories and manuals: When selling electrical items, include all leads, cables and instruction books, if possible. In your description be transparent about missing parts.
Know the rules on tax
Side hustles are now a very popular way for people to earn a little extra cash.
But while one of these ventures can help to boost your finances, it’s important to know where you stand on tax.
Since the start of January, digital platforms, including eBay and Vinted must share seller information with HMRC as part of a crackdown – so make sure you know the rules.
If your side hustle generates less than £1,000 per tax year (from April 6 in one year until April 5 in the next), you do not need to pay any tax on your earnings.
However, if you earn more than that in 12 months, you’ll need to declare it – and pay tax.
This will involve you filling out a self-assessment tax return so your earnings can be taxed accordingly by HM Revenue & Customs.
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Note that if you only sell a handful of second-hand items online each year, you’re unlikely to be affected by the new rules which took effect last month.
Read more in our guide to the tax rules when selling online.
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