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How to get the most out of gift returns

Each year, millions of people spend the days after Christmas returning gifts. According to Consumer Reports Survey, one in five Americans will return a holiday gift — $59 billion in unwanted gifts.
Syracuse (WSYR-TV/ABC) – Each year, millions of people spend the days after Christmas returning gifts.

According to Consumer Reports Survey, one in five Americans will return a holiday gift — $59 billion in unwanted gifts.

ABC News offers a number of tips for maximizing the money for returned items from Christmas days past.

According to ABC News technology editor Joanna Stern:

1. Cash in Old Clothes
ThredUP.com in San Francisco pays for gently used clothes and also sends you a bag to fill. A Kenneth Cole size 4 jacket could get as much as $8.50 and a Ralph Lauren hoodie size 5, as much as $5.

2. Go Drawer Digging for Hidden Treasure
Stern said the family’s old Nintendo DS and BlackBerry could be traded on Amazon and Boston’s Nextworth.com for $30 each.

3. Christmas Gift Cards
Websites like GiftCardGranny.com or GiftCardRescue.com might offer cash in exchange for gift cards. An Amazon gift card worth $50, for example, could be worth $46 in cash.

4. Skip the Shipping and Get Money While You Shop
Some used items can be traded in at a retailers’ shop for store credit or cash.

5. Shop Wholesalers for Big-Ticket Items at Steep Discounts
Secondipidity’s warehouse in Cranbury, N.J., is home to scooters, slides, ceiling fans, games, even vacuum cleaners, because when an electronic item has been opened, retailers can’t put it back on the shelf.

Instead, they send the products to Secondipidity.com, which works with seven of the nation’s biggest retailers. The clearinghouse then sells the items at discounts up to 80 percent.

To share your “Real Money” ideas, click here.

To read a full report from ABC about getting the most out of your unwanted Christmas items and to read the story of one family’s personal experience, click here.

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