Buy second-hand for smart savings during the holidays

Earlier this year, Mia Kirk joined a Facebook group for people in her area wanting to buy and sell used kids’ stuff. She’s not only hooked, but she’s also saved a lot of money.

“I’m on there practically every day,” says the Vancouver mother of three. “I just got a North Face ski jacket for my six-year-old for $50 that looks brand new. I’ve unloaded clothes, books, and toys we don’t use anymore. I love it.”

Aside from cars, barely-used children’s clothes and sporting goods are items that top the list when it comes to things that you should always pick up second-hand. With kids outgrowing their ski boots, skates, soccer cleats, snow pants, rain suits and rubber boots year after year, it only makes sense financially to find something that’s already had the tags cut off but that doesn’t come with the fresh-out-of-the-box price. The average cost for used kids’ bikes currently for sale on Kijiji, for example, is $43 — far cheaper than buying new.

With household debt having reached a new record, now’s the time to pause and think about other goods that are best bought used before whipping out your credit card for that new gadget. Now that shopping season is in full force, a lot of Canadians are feeling the financial squeeze: according to a recent Investors Group survey, 31 per cent say they’re concerned about their excessiveness during the holidays, while another 18 per cent say they don't even enjoy the holiday season because they’re so worried about the accompanying expense. Even Black Friday, Cyber Monday, and Boxing Day can’t touch the savings that come with second-hand stuff.

Consider smartphones. With new versions coming out all the time and so many consumers always wanting to upgrade, these are hot on the used market. Right now there are more than 130,000 listings on Kijiji with an average price of $332. With prices for new smartphones in store ranging from $400 to $900, it’s a no-brainer to buy second-hand. On Craigslist in Vancouver alone, there are literally thousands of pages of smartphones for sale, many of them purportedly in mint condition. Accessories abound too (and would make good stocking stuffers).

Gaming consoles are another example. More than 150,000 of these are currently for sale on Kijiji, including last-generation Xbox, PlayStation, and Nintendo versions with an average price of $203. New ones typically go for $400 to $500.

Other easy-to-find used items include:

• DVDs and Blue-rays

• video games

• baby gear such as cribs, strollers, mobiles, and monitors

• small appliances like blenders and bread makers

• fancy clothes like tuxedos and gowns would make a great outfit for your office Christmas party.

Among the top items being sold on eBay right now are dolls, jewellery and paintings.

Second-hand gifting etiquette

If you are going to give something second-hand as a gift, do it tactfully, says Natalie P. McNeal (TheFrugalista.com), author of The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous Life. She says high-value items that look as good as new, like jewellery, are the best ones to give as gifts.

“If you do give a high-value used gift, be sure to disclose that it’s a hand-me-down,” she says.

And when shopping for used goods, keep your smarts.

“There are simple rules everybody should follow regardless of what they’re shopping for,” says Shawn McIntyre, community relations manager at Kijiji. “Remember to always transact locally; never send money via the Internet. Meet the person in a public location, like the parking lot of a coffee shop, where there are a lot of people around. Deal in cash.

“One rule we repeat is that if a deal seems too good to be true, it almost certainly is,” he adds. “If you know the market value on any product, you know how much it should be going for. If an iPhone should be selling for $400 but it’s only going for $200, maybe the quality isn’t there or it may not exist. Use common sense.”