I’ve sold a lot of old clothes on Vinted – the best time to post for sales
A VINTED professional has shared some of her best tips for making money selling your old clothes through the online marketplace.
Vinted is an online marketplace where people can buy and sell second-hand clothing, shoes and accessories.
It’s completely free to upload clothes to the app and, unlike other sites like eBay and Depop, Vinted doesn’t cut sellers’ profits, instead charging buyers a small fee for the purchase of each item.
Post in the Vined clothing/sales Facebook group, an enthusiastic Vinted user shared her top tips to ensure your clothes sell quickly.
Her first tip is to upload your clothes at a specific time, around 7 p.m.
She said more items are likely to be sold at this time as people have returned home from work and are “looking for bargains”.
The second tip from the Vinted whiz is to always offer things for a little more than you want to sell them for. This way, if someone sends you an offer, you can still be happy with the price you end up selling the item for.
The Vinted seller also recommended using lots of hashtags relevant to your item (so the items are easily searchable) and posting your items on Vinted forums, as this will help you gain more followers and possibly sales as well. to get.
Another Vinted user tip is to enable bundles, to encourage buyers to buy more than one thing on your site.
She also recommended removing and relisting your items if they haven’t sold after a few months on the site.
She said: “I know it’s scary to lose all your likes, but this worked for me and I hope it will do the same for you.”
To round out her list of tips, the Facebook users recommended sending offers to people who have favorited your items to encourage them to buy them and ensure your Vinted profile is updated with a photo and a biography.
Online marketplaces such as Vinted and Depop have millions of users across the UK, with the cost of living crisis only increasing their popularity.
Financial pressures in British homes saw sales of second-hand goods rise by 15 percent to £21 billion by 2022.
One in six people now say they buy used items, according to research commissioned by review site Trustpilot.
New Vinted rules to watch out for
IF you feel like cleaning out your wardrobe and getting rid of your old stuff on Vinted, you should take into account the new rules that recently came into effect.
If people sell personal items for less than they paid new (which is usually the case with second-hand sales), there are no tax implications.
However, since January 1, digital platforms including eBay, Airbnb, Etsy, Amazon and Vinted have been required to share seller information with HMRC as part of a crackdown.
This is unlikely to bother you if you only sell a handful of second-hand items online each year. In general, only business sellers who trade for profit may have to pay taxes.
Since 2017, there has been a tax-free allowance of £1,000 for business sellers trading for profit. The only time an individual personal item can be taxable is if it is sold for more than £6,000 and a profit has been made from the sale.
However, companies must now pass your details on to HMRC if you sell 30 or more items a year or earn more than £1,700.
It’s part of a broader tax cut to ensure those who increase their income through side hustles pay what they owe.
Although your details will not be shared with HMRC if you earn between £1,000 and £1,700, you will still have to pay tax as normal.
So this is the perfect time to earn some extra money with Vinted, for example.
According to the popular platform, sellers do not have to pay taxes on the income they earn from the site.
According to HMRC, this is because selling personal items via platforms such as Vinted is not in itself taxable.
“If the money a member earns on Vinted in a year is less than the amount they paid for the items they sell, then no tax is due,” a Vinted spokesperson explains.
”Generally speaking, only business sellers who ‘trade’ for profit are required to pay tax.
Since 2017, there has been a tax-free allowance of £1,000 for people trading for profit.
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