CASHING IN
I’ve made almost £110k on Vinted – the common mistake people make that you must NOT do if you want to make cash quick
Plus, scroll down for the rules you need to be aware of before selling items on Vinted
A SAVVY Vinted seller has revealed the ‘costly mistake’ people must avoid if they want to sell items using the online marketplace app.
So if you’ve downloaded Vinted in the hope of turning your trash into cash, then you’ve come to the right place and will need to take notes.
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Irem, a successful Vinted re-seller, has made almost £110,000 by flogging items on the popular app.
And now, the young woman has spilled the beans on how you can make a fortune using the platform.
Vinted has become a popular place for people to buy and sell second-hand clothes, shoes and accessories.
It is a free site where sellers can simply post pictures of their items onto the app, and buyers purchase.
Read more Vinted stories
Vinted also does not take a cut of sellers' profits but instead charges buyers a small fee to purchase each item.
This fashionista, who has cashed in a jaw-dropping £109,759.20 through the app and has the potential to earn an additional £10,126 thanks to 369 items she has available on her page, claimed that reserving items is a huge no no.
Posting on social media, Irem uploaded her short clip with the caption "Stop doing this to increase your sales!" and claimed that holding items for customers is “costing you so many sales on Vinted.”
The content creator, who has amassed 25,600 followers on TikTok, then advised those using Vinted, whether that’s to sell clothes, tech or beauty buys, that reserving items should be avoided.
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If someone is planning to buy an item on Vinted and asks you to put it on hold for a while, you can reserve it for them.
The reservation lasts five days and you can unreserve the item anytime during this period.
I have a huge hack to boost your Vinted listings without spending any extra time on them - it's a great cheat
To reserve an item, all you need to do is open the message thread with the buyer who asked you to reserve the item, press the information icon in the upper right corner of the conversation screen and select 'Reserve', followed by 'Confirm'.
Iren, who now lives in Dubai and drives fancy cars thanks to the cash she has made, stressed: “I'm a full time re-seller, I have made over £100,000 selling on Vinted, so I'm quite experienced and that mistake is reserving items.
“You are losing out on so many sales because you're reserving items for people.
This was such a big help! Thank you for the advice
TikTok user
“If they want to buy it, they would - you're giving them time to think about the purchase and also time to research and find it cheaper somewhere else.”
Iren then explained: “Because you're reserving it for that person, you're losing out on interest from other potential buyers and it basically just restricts your cash flow, which is not ideal at all.”
As a result, she claimed: “I decided I'm not gonna reserve items anymore because it's just not worth it - they never buy. Literally never.”
New Vinted rules to be aware of
IF you fancy clearing out your wardrobe and getting rid of your old stuff on Vinted, you’ll need to consider the new rules that recently came into play.
If people are selling personal items for less than they paid new (which is generally the case for second-hand sales), there is no impact on tax.
However, since January 1, digital platforms, including eBay, Airbnb, Etsy, Amazon and Vinted, must share seller information with HMRC as part of a crackdown.
You're unlikely to be affected if you only sell a handful of second-hand items online each year - generally, only business sellers trading for profit might need to pay tax.
A tax-free allowance of £1,000 has been in place since 2017 for business sellers trading for profit - the only time that an individual personal item might be taxable is if it sells for more than £6,000 and there is a profit from the sale.
However, firms now have to pass on your data to HMRC if you sell 30 or more items a year or earn over £1,700.
It is part of a wider tax crackdown to help ensure that those who boost their income via side hustles pay up what they owe.
While your data won't be shared with HMRC if you earn between £1,000 and £1,700, you'll still need to pay tax as normal.
The TikTok clip, which was posted under the username @, has clearly left many open-mouthed, as it has quickly racked up 32,000 views, 1,312 likes and 150 comments.
Social media users were thankful for Iren’s advice and many eagerly flocked to the comments to share their thoughts.
One person said: “This was such a big help! Thank you for the advice.”
A second agreed and added: “So many people don't even buy it.”
Meanwhile, a third questioned: “What do you reply when they ask you?”
Read More on The Sun
To this, Irem replied and confirmed: “I just say ‘no sorry I don’t do reserves’.”
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MOST POPULAR ITEMS ON VINTED
Vinted shared with The Sun some of the most popular items on the app:
- The autumnal months is when Vinted has the highest activity on the platform
- The company's most “favourited” listing globally was a Bambino Jacquemus bag with over 1,300 Likes
- Most popular colours in the UK include black, white, grey, brown, navy and pink.
- Best-sellers: Clothing within both Women’s and Men’s categories, dog equipment within the pet care category, and books within the entertainment category
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