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UK tipped for second-hand selling wave as Brits realise payday won’t come for another week, data reveals

Search data reveals Brits are most-likely to sell their stuff in second-hand shops and online to generate extra cash, according to data from second-hand retailer Cash Converters..

Google data confirms that searches for “make more money” are 40 per cent higher in January compared to the rest of the year, indicating that Brits are more likely to be looking for extra ways to make cash in January than any other time in the year. Google data also confirms that January is a popular time for selling items to generate extra cash, with searches for “sell laptop” up by 55 per cent and “sell iPhone” up by 30 per cent.

The top things people are looking to sell in January:

Laptop Searches for “sell laptop” increase by 55% in January Tablet Searches for “sell tablet” increase by 51% in January iPhone Searches for “sell iPhone” increase by 29% in January Camera Searches for “sell camera” increase by 30% in January Store data from Cash Converters also reveals that in-store enquiries are the highest towards the end of the month of January, as more customers choose to sell their items for cash before payday.

Many businesses chose to bring the December payday forward to before Christmas 2021, and last year the payday were most likely to fall on 24th December, so many will have budgeted for their pay to last until Friday 21stJanuary – four weeks following the December payday date. However, for many, payday will not come for another week, meaning many UK residents may find their budget falls short this month, and will be looking for other ways to make quick cash.

In light of this, Cash Converters anticipates a trend in customers selling unwanted second-hand goods and unused Christmas presents to generate cash starting from Thursday 20th January until the next payday falls a week later.

To help customers make extra cash through second-hand selling this month, a valuation expert from Cash Converters has released tips on how to find the best items in your home to sell in January.

How to make extra cash in January – the top five items to sell second-hand, according to a goods valuation expert leading second-hand retailer Cash Converters

1. Laptop

“Tech often sells well second-hand as these items are very expensive brand new and good models can last for as much as five years, particularly for families needing them for school or university students. An old laptop could be a great choice to sell in January – just make sure you wipe the keys, screen and surfaces down so that the device looks more presentable when you bring it in or take pictures.”

2. Tablet

“Whilst tablets were the must-have item a few years ago, there are still plenty of customers who buy tablets second-hand. Tablets that have been kept in cases with screen protectors are best to sell, so that they haven’t been devalued by any scratches or chips to the screen, but we find tablets to still be one of our most popular items for customers to buy second-hand so we’re always on the look-out for stock.”

3. iPhone

“Apple products are often in demand and whilst new models are released often, second-hand iPhones can be sold for a really good price. Scratches to the screen and case can result in a lower buying price when sold second hand, but our buying teams will always give a fair price on a product-by-product basis.”

4. Digital Camera

“Digital cameras are a great item to sell second-hand, as they are often expensive to buy brand new due to the number of lenses and accessories required. A great tip is to sell your camera, lenses, and accessories separately to get the best price for individual items. If you have the original packaging and storage accessories, like lens cases, then you could get a better price, as this is a good indication that the item has been kept in good condition.”

5. PS4 or PS5

“There was a huge demand for PS5s before Christmas, as many stores were short of stock. So, if you got a PS5 for Christmas that you don’t want, or you have any older PlayStation model that you upgraded and no longer play, then this is a great item to sell right now.”

Whilst customers can sell items themselves online, second-hand retailers like Cash Converters offer customers the option to sell items instantly for cash, taking the stress out of the sales process.

For those customers who want to generate cash without having to sell an item, Cash Converters offers a Buy Back programme, where customers can sell their item to a local store to get instant cash, and then buy the item back for the same price a month later, plus an administration fee. If the item is no longer required or is not bought back by the end of the month, then Cash Converters will sell the item.

Commenting on the data, Peter Hall, CEO of Cash Converters UK said:

“Many people will expect to be paid on Friday 21st January, as this is four weeks after the December payday, but actually, payday won’t come for another week.

“January is always a good time to have a clear-out and see if you have any unwanted household items that could help you to generate extra cash, especially if you have received Christmas presents that have replaced old items, such as phones or laptops.

“How much you could get per item really depends on the condition of the item and where you sell it, whether that’s through an online marketplace, an app, or in-store at your local Cash Converters.

“Items vary in price depending on demand or condition, but popular items to sell in January include iPhones and other smartphones, PlayStation consoles such as PS4s and old laptops. If you’ve received new tech for Christmas, then it’s definitely worth seeing if you have any old items lying around at home that are gathering dust – as these can be a great way to make extra cash this month.”

This was posted in Bdaily's Members' News section by Sam .