How to Get Money For Your Old Clothes and Buy Quality Clothing at a Fraction of Retail

If you’re like most people you probably have a closet filled with articles of clothing you no longer wear. Whether it is due to gaining or losing weight so they no longer fit or you simply don’t wear them anymore it makes no sense to hang on to these items most of the time. We’re all aware of taking our clothes or unwanted items to places like Goodwill or the Salvation Army to receive a deduction on taxes, but the actual money saved on taxes at the end of the year may end up being insignificant. Wouldn’t you like to receive cash right on the spot for dropping off your items?

If you are fortunate enough to live near a location that has a Plato’s Closet you can do just that. I have always seen the commercials and it never occurred to me to stop into one. They clearly seem to market towards teenage girls and I don’t wear much women’s clothing. Even their website mentions teen fashion, so for years I had no inclination to stop there.

This weekend my wife and I were out shopping and I noticed one of these stores right next to where we parked. I figured why not, let’s go take a look. Initially I thought my previous assumptions were correct, it looked like a teen girl’s paradise. But when I reached the back of the store I saw the male section. It was quite a bit smaller than the female racks, but they had quite an assortment.

The thing that stood out was that a lot of the clothes were not just things a teenager would wear. There were hundreds of just basic polo and button-down shirts, in like-new condition for a fraction of what they cost in the store. There was also quite an assortment of jeans, pants, sweaters and outerwear, most of which even someone in their 30′s could wear. I did not purchase anything, but my wife found a pair of black dress pants that would typically cost $35-$45 in the store for only $6 and they appeared brand new.

Not only do they sell quality clothing for very little money they take your used clothing and will give you money on the spot. Unlike donations to one of the other organizations Plato’s Closet is a bit more selective in what they will buy. Generally the item has to be a name brand and in good condition. That being said, from the list it looks like there is quite a variety of styles that could allow those who aren’t teenagers to still have acceptable items. When we were there I noticed a few people with garbage bags full of clothing they were dropping off to be sold. I overheard that one young lady received upwards of $125 for the items she brought in.

Some people may still wish to donate their clothing as opposed to selling them and that is fine. But this weekend I will be going through my boxes of clothes that no longer fit or I no longer wear and attempt to see how much is accepted and what kind of money I can receive. Then the stuff that does not sell I can still donate. It is really a win-win situation. Get cash for some of your better items and donate anything else. Not only that, but you can probably find a few things to buy and save a ton of money over retail prices.

Author: Jeremy Vohwinkle

My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.

11 comments
Danielle
Danielle

I have bags of old clothes and was wondering where i could drop them off I live in Wythenshawe where is the nearest place for me to take them to

Eileen A McCarthy
Eileen A McCarthy

I have a bunch old clothes that I'm not wearing any more. Where do I drop them off and how do I make extra money off of them? I live in New Hyde Park, N.Y.

Betty Prasauskas
Betty Prasauskas

Please tell me where I can sell some clothes in the south side of Chicago, I live in Oak Forest, Illinois

Destiny
Destiny

To bad the on by me i dont have a ride because its all the way up in amerst

heather
heather

I live in rivrside and have alot of mens old jeans some torn at the knees. I would like to take them to a demin bank and trade or get money for them.

Martin
Martin

I lived in Africa and I am very interested by your old clothes. I want to buy them. contact me at sidibem2001@yahoo.fr

Bapes
Bapes

I think we all have a bunch of clothes we don't wear due to not fitting or changing fashions. Where could you drop them off?

Lauren
Lauren

I have a bag full ofc old clothes in great condition. How do I go about getting money 4 my clothes? I live in New York, and wanted to know where I would have to droop them off?

lakeisha buffkins
lakeisha buffkins

have a bunch of clothes that i dont wear and i want to give them away and get money so i can buy new clothes too.

tia
tia

i have a bunch of clothes that i dont wear and i want to give them away and get money so i can buy new clothes so how can i do that?