Offload your unwanted Christmas presents and make some fast cash

Australians will wake up with millions of Christmas presents they don’t want. Now is the time to make some fast cash, experts say.

There’s bound to be a few unwanted Christmas gifts but rather than leave them to gather dust in cupboards, savvy recipients are turning them into fast cash.

New independent research compiled on behalf of second-hand selling website Gumtree quizzed 1300 Australians and found 53 per cent of people received at least one unwanted gift last year.

And the gifts that were less desired included clothes and accessories (20 per cent), followed by beauty products (15 per cent) and household items including furniture, decor or homewares (10 per cent).

Selling unwanted presents online is a great way to shift presents. Picture: iStock.

Crown Money Management chief executive officer Scott Parry said Australians should not only look at selling any unwanted gifts, but also consider offloading other items around the home.

“While you’re at it you should also look around the whole house and see what else you can sell and then you’re off to a really good start at making money,” Mr Parry said.

“Every single Australian has thousands of dollars sitting around their house not just from Christmas but from the whole year.

“It’s just a matter of taking a few photos, answering a few questions and posting an ad online then you can make money and put it towards experiences or things you do want.”

The research showed the worst gift givers were friends (31 per cent), followed by parents and work colleagues (both 21 per cent).

It also found those who sold their unwanted Christmas presents last year made an average of $81, while one in five people made over $100.

Australians shouldn’t feel bad if they resell gifts they don’t want, Gumtree spokeswoman Eleni Gavalas says. Picture: iStock.

Gumtree spokeswoman Eleni Gavalas said Australians shouldn’t feel bad if they ended up receiving gifts they don’t want.

“It’s better to put that item that you received and didn’t like to better use,” she said.

“Consider selling it within the second-hand economy to make some extra cash, we know it’s been a difficult year and there’s always a lot of money spent at Christmas time.

“It’s a great way to recoup the cost of Christmas and potentially buying yourself something that you really want instead.”

Ms Gavalas said the popular site sees a “surge” in people searching goods from Boxing Day through to January.

Mr Parry also said any money made from offloading gifts should also be used to pay off any debt that you’ve incurred giving others for Christmas.

“It’s the boring option but a good idea to pay off debts such as credit cards,” he said.

@sophieelsworth