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THRIFTING KING
I make £4,000 a month buying and selling things on eBay and car boot sales – the key tricks to do it too
A THRIFTY second-hand expert has revealed how he makes thousands in extra cash by selling items on eBay.
Jon Luc Greenwood, 24, finds rare and designer items at knock-down prices before selling them for a big profit.
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From finding rare wrestling memorability to a Nintendo 64 console, the full-time eBay seller and YouTuber has plenty of tricks to share.
Jon Luc, who is from Manchester, said he had always loved the idea of eBay and said it was "natural" for him to make a full-time career out of it.
In the last 90 days, he has made more than £13,400 in revenue on the platform alone, according to proof seen by The Sun.
Jon Luc says he usually averages around £4,000 a month in revenue.
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He makes his money by selling finding high value-items for cheap and selling them on for much more.
For instance, he sold a dressing gown by bespoke designer Turnbull & Asser for £5 and sold it for £300.
He also found some Manchester United academy shirts from charity shops at £5 each and sold them on for between £200 and £300.
Jon Luc said: "I love what I do, it’s like a treasure hunt.
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"It’s not for everybody, some people are more inclined to a standard nine to five but there lots of people just like me across the country.
"You have to enjoy your own company. You’re on your own a lot, we have a great community online but you don’t have workmates per see."
Jon Luc works around 45 hours a week in total with all the buying, selling and making content for his YouTube channel.
He said: "It's full time, I’m up at eight pottering about till six, either packing or listing and filming social stuff.
The finding, buying and selling of all the goods Jon Luc take a bit of effort but mainly intuition.
"I’ll go to a couple of car boots a week, and I’ll pop in a few charity shops every other day," he said.
"But I’m not too reliant on those charity shops so I don’t spend much time trawling around."
Jon Luc also shared some of his top tips for others who want to get into selling on eBay.
He said: "You need to be willing to learn as it’s hard at first, take risks and make mistakes.
"Be persistent and consistent, most people who own a smartphone can buy and sell online, it’s all about applying yourself."
Of course, how much money you'll make depends on the quality of the items and what people are wanting to buy at the moment.
But it's always worth heading into secondhand stores to see what you can find to sell.
Bear in mind that if you buy something and don't sell it, then you'll have lost money so make sure you are able to put in the effort of selling on.
How does selling on eBay work?
You can list up to 1,000 items a month for free.
You’ll pay a commission of 12.8% on what you sell, plus a 30p fee.
This is includes postage, tax and other fees, which can bump it up.
You’ll also pay more if your item sells for over £2,500 or if you want to add a “buy it now”, or fixed price.
This means your buyer can make a purchase right away, instead of going through a bidding process.
Check your item is worth something
You should also check to see if the items you have found are valuable, real and will sell.
Take it into a different secondhand or antique store and speak to a professional if you can.
Look on eBay and other secondhand sites and search for the item you're thinking of flogging.
Take a look at the product description and make sure it matches it.
If you can, check that the item you want to sell is fully functioning as this can massively impact the price.
If you're reselling a board game, ensure all the pieces are there and if you can, keep it in its original packaging.
What second-hand apps are there?
There are lots of other second-hand apps that can help you to make extra cash.
Most apps are free, but some may take a fee or a commission.
Vinted
Vinted is great for selling everything from sportswear to high street brands and designer gear.
Best of all, the seller pays nothing, but buyers pay a fee of 3% to 8% plus 30p-80p, to cover refunds if their items do not arrive or if they get damaged in the post.
Depop
Depop is popular with students because it looks like Instagram and is easy to use.
It tailors listings shoppers see according to the brands and styles they have previously liked and searched for.
There are no fees to list an item but you pay a 10% commission on anything you sell.
Preloved
Preloved lets you post online adverts that are targeted at people in your area.
This means you can arrange for buyers to pick items up and pay you by cash or PayPal on collection so you can save on postage.
It’s free for a basic membership or you can pay an annual fee of £5-£15 for extra features to boost your listings.
Facebook Marketplace
Another easy way to sell to local buyers is using just your Facebook account.
Most users are looking for a bargain, so you might not get a high price, but it’s fairly hassle-free and you don’t pay commission or listing fees.
Tax warning
You can make up to £1,000 a year from selling items online or odd jobs like dog-sitting, without having to tell HM Revenue & Customs or pay tax on your earnings.
This also applies to making money from your home, for example by renting out storage space.
Anything above this must be declared and you’ll need to fill out a self-assessment tax return.
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The tax you pay depends on your other income.
MoneySavingExpert.com’s income tax calculator can help you do the maths.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
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