One thing is for sure — there’s good money to be made (and saved) in the thriving second-hand market.
In the 2017 Second Hand Economy Report commissioned by Gumtree, it was estimated that Australia’s second-hand economy is worth an incredible $43.5 billion based on the value of used and unwanted items per household. It seems most Australian households have a small treasure trove of unwanted items lying around, with an average of 25 unwanted items per household worth an estimated $5,404.
Most of us are also making good use of our unwanted goods, with 60 per cent of Australians having sold second-hand items in the previous year (selling an average of 11 items), amounting to around 101 million goods having changed hands over the 12-month period.
Online marketplaces are also our preferred way to sell our unwanted items, with 83 per cent of people who sold second-hand items in the previous year doing so online. Other sales methods are dwindling in comparison, with only 19% having sold items to a friend or family member, 13% selling at a garage sale, 8% at a market, 3% through newspaper ads or 4% using another method.
But the good news isn’t just for sellers—buyers are also enjoying the benefits that come with purchasing from the second-hand market, with buyers estimating that on average they’ve saved almost half the cost of what they would’ve paid buying new. In fact, 86 per cent of Aussies say they prefer buying second-hand over new, not only because of the financial savings but because they can find unique items, reduce waste and recycle useful items.
It’s clear the second-hand market is thriving, but what’s the best place to buy and sell in Canberra? ALLBIDS. And here’s why…
It’s simple—when selling, you’re better off adopting a local approach. With the growing popularity of online marketplaces throughout the nation, big-city markets are being swamped by an oversupply of some items meaning you may not be able to achieve the same price for your valuables if you sold locally.
Opting for a local approach to selling is proving to be particularly popular among downsizers who need to sell a range of items but don’t want the hassle of transporting them to an auction house in Sydney or Melbourne that most likely already has an oversupply.
Specifically catering to the Canberra and Southern New South Wales market, ALLBIDS allows sellers to advertise directly to their database of more than 150,000 users from the local area who are in the market to buy. In fact, ALLBIDS have more registered buyers than sellers, creating ideal conditions to create more competition for your items.
By listing your items without a reserve, you’re also likely to generate more interest for your goods—and ALLBIDS will even guarantee that they’ll sell. You can also create a sense of urgency by opting for the 7-day listing option which ensures you’ll get a sale in one week. You even have the option to request ALLBIDS run a tailored PR campaign for you, targeting buyers on Facebook or other specialist sites to generate even more competition.
The obvious benefit to buying second-hand is that you’re likely going to save some cash on the sale price when compared to buying new, but when you choose a local marketplace, you also have the added benefit of potential savings on shipping costs. With most sellers offering the option for you to pick the item up yourself, you could even avoid shipping costs altogether.
While the financial savings of buying second-hand compared to new is a big drawcard for most buyers, as the report outlined, it’s not just the financial savings that buyers like about the second-hand market. The ability to access a range of unique and hard-to-find items that you simply can’t find brand new is also a key benefit for most buyers.
If you’re a collector or just starting out, a local marketplace like ALLBIDS provides an excellent platform to find rare or one-of-a-kind items you can’t find anywhere else.
Take artworks for example. If you’re in the market for an artwork from a well-known artist that comes with an entry-level price tag, you can find artworks from the likes of David Boyd, Robert Klippel, Leonard Long and Wendy Sharp for under $500.
Or if you’re looking to build a collection of items that is sure to retain its value, antique silver could be a good bet. Whether you’re most drawn to Georgian or Victorian flatware and hollowware, tea sets, gravy boats or bon bon baskets, because silver will always have a melt value, you can guarantee you’ll always have something of value regardless of what may be fashionable at the time.
If you’re just starting out, the best word of wisdom is to do your research and take the time to inspect the items before purchasing—something ALLBIDS makes easy from their showroom which is open daily and offers designated inspection times for every estate auction.
With everything from antiques, art, jewellery, collectibles, cars, electronics, computers, homewares, wine, tools and sporting goods all coming from sellers within the local area, ALLBIDS is the only marketplace you need to know about when buying or selling in Canberra.
This is a sponsored article, though all opinions are the author’s own. For more information on paid content, see our sponsored content policy.