How to Earn Extra Income in Toronto Selling Unwanted Belongings

earn extra income selling unwanted belongings

Everyone could use a bit of extra cash from time to time. But time is at a premium, and not everyone has the ability or the desire to take on an extra side hustle.

A better alternative might be selling unwanted belongings for a one-time injection of income that you can put toward a more productive goal, such as repaying your student loans, clearing a credit card debt, starting an emergency fund, investing for the first time, or purchasing something that you’ll get much more use from.

But a garage sale isn’t exactly the key to turning old belongings into cash. These tips will help you find the right home for unwanted belongings at the best price. Fortunately, living in the GTA, there are tons of potential buyers, and even the most esoteric stuff can usually find a market.

Furniture and Electronics: Online Marketplaces

The best place to take big-ticket items (both in terms of cost and size) is probably an online marketplace like Facebook, Craigslist, or your marketplace of choice.
The biggest challenge is trying to figure out how to price old furniture on these marketplaces. There are several factors you will have to consider, including:

  • The quality of the piece, i.e., solid wood will sell for much more than your average IKEA table.
  • The size, as larger and less convenient-to-move pieces will be harder to sell.
  • The popularity of the style today.
  • Depreciation, which is affected by both age and actual wear and tear (i.e., a one-year-old couch will not be worth more than a five-year-old couch if it is stained or scratched by pets).

Old and Scrap Silver: Silver Buyers

Do you have a silver necklace or ring that you don’t wear anymore? What about broken silver jewellery or jewellery given to you by someone no longer in your life? A silver bullion buyer is a great place to start.

The most important tip to follow if you’re selling silver: take your time and do your research. If you’re selling silver in a pinch, you’re more likely to take a substandard offer.

As you start researching your options, one quality to look for is transparency. A silver buyer that posts their updated prices according to purity and weight is a great start and should help you put together a realistic expectation of what you can get.

Old Bills and Currency

Coins aren’t the only currency that might be worth something. If you have a collection of paper money, it may be worth asking: are your old bills worth anything? Certain well-preserved collectibles and rarities may go to the right collector for a good price. Consider going to a paper currency buyer to see if anything you have has value.

Cashing in on the Used Car Market

In case you hadn’t heard, the used car market is as overpriced as GTA real estate, thanks to chronic shortages and long delays for new cars. Used car prices are up 40%, and it’s an increase that experts expect to hold out for most of the year.

If you’ve been thinking about selling an old car that you no longer drive or switching to a car-free lifestyle, now is the time to make the most of an older model.

Nicole Middleton
Nicole calls herself a typical millennial girl and thrives on her share of social media, celebrity gossip, and all things viral content. She’s a big fan of pop music and plays the guitar as a hobby.