How to Turn Your Closet Into Cash

Where you see old, tired clothes in your closet, Tracy DiNunzio sees cash, and lots of it.

DiNunzio is the CEO and founder of Tradesy, one of the newest and, according to DiNunzio, easiest options on the Web to cash in on the clothes you're ready to get rid of.

READ MORE: Update Your Wardrobe for Free

The Los Angeles-based Tradesy takes care of what the site calls the "messy bits" of online commerce - the payment, shipping and handling and return - so that all you have to do is take photos of your clothing, post the photos online and set a price.

DiNunzio appeared on " Good Morning America" today to show just how easy it is to swap your clothes for cash. The Tradesy founder says these seven tips will make sure you get the most bang for your clothing buck.

1. Shop Like You Are Making An Investment. Recognizable, popular brands like J. Crew, Coach and Abercrombie & Fitch sell best on Tradesy. Buy items from designers other women know and love, and you'll be able to sell them easily on Tradesy when you're ready to part with them.

2. Stick With the Classics. It's smart to invest in pieces that are made to last and not too trendy, which will make them easy to resell. If you want trendier items, buy from less expensive retailers, or on Tradesy, since you'll likely only wear them for a few months.

3. Organize Your Closet. Separate your closet into sections - things you wear frequently, and things you don't. When an item is sitting in the "not worn" section for more than three months, it's time to list it on Tradesy so you can earn money to put toward something you'll get more use out of.

4. Keep Your Wardrobe Clean and Fresh. Certain stains, like white wine, are not immediately apparent but will set and show later if you don't clean them immediately. Keeping your clothes in great condition will help them sell faster on Tradesy.

5. Photograph Well. When you photograph your items to list for sale, make sure they're wrinkle-free. Hang them straight on a hanger and take photos of multiple views, like the front, back, side, hem and label. We'll clean the backgrounds off your photos and make them look pretty, but it's up to you to take clear photos that will help your item sell.

6. Set a Realistic Price. You can charge whatever you want for your fashion treasures, but pay attention to the suggested price that Tradesy recommends when you list your items for sale. We have a lot of information about what people will pay for different fashion pieces and adhering to our pricing suggestions will help your item sell faster.

7. Check Your Competition. Make sure you check what other Tradesy sellers have for sale in their closets. That way you can use your earnings from selling on Tradesy to get more fabulous fashion at up to 90 percent off.

Click HERE for Tips to Spice Up Your Style Without Spending a Dime

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