How to make some extra money by selling your extra stuff

ByABC News
March 5, 2009, 11:43 PM

— -- The economy's tanking, cash is tight at home, and there are seemingly few ways to quickly make a little extra money. But selling household goods dare we say, junk is a proven way, and spring cleaning can provide the perfect impetus.

Options abound, from hawking items at pawn shops (where business is booming) to selling items online to hosting the old standby, the garage sale.

Successful organization and marketing are key factors in maximizing what you can charge and earn.

"The wintertime is a perfect time to perfect your nest and move out the things that you no longer need or want," says author and garage sale enthusiast Bruce Littlefield. "In this economy, we quickly realize our excesses and are willing to let go of them if we can make a few bucks in the process."

The few bucks add up: Garage sales are a $3 billion industry, says Littlefield, author of Garage Sale America.

Jack Waddick of Arlington Heights, Ill., says garage sales have their place, but the online marketplace dwarfs America's front yards as the best sales location. He works full time buying, selling and teaching others the ins and outs of eBay.

"If you look at the traffic on your driveway vs. your traffic on eBay, it's not even a comparison," he says.

Waddick started posting his junk in 2003 and was immediately hooked when his first item, a 1984-85 Chicago Bears Super Bowl highlight tape, sold for $47. Waddick started bids at $9.

With 86 million active users, eBay moved more than $48 billion worth of goods last year, it says. Craigslist, GetItDaisy.com and backpage.com are other popular online marketplaces.

The e-markets have advantages, but posting every book and pillow one by one online can have its drawbacks.

"It's a lot of work," says Jim Griffith, an eBay marketplace expert. "There is less work involved in doing a garage sale."

If the goal is to empty closets and bookshelves, your lawn may provide the best solution.