SIDE hustles have garnered significant popularity over the last few years.
Amid the cost of living crisis, more people are seeking out extra streams of income to stay afloat.
From selling clothes on Vinted to training in a service like eyebrow threading or spray tanning, there’s plenty of ways to make extra cash.
But there’s one side hustle that more and more Brits are having success with: reselling bargains they’ve found at auctions.
Buying at auctions and reselling can be a lucrative side hustle if you approach it with the right strategy and knowledge.
You can flip furniture, antiques, technology, kitchen appliances and so much more.
And that’s exactly what one Reddit user has done to make up to £320 extra a month with minimal effort.
“I made a solid £240 to £320 a month by bidding on stuff while I’m bored at work at a local auction,” they explained on the public forum.
“Then once a week, I pick it up and post it on OfferUp.
“My average so far is more than double what I pay for items.”
OfferUp is a US-based app to buy and sell locally.
However, you can replicate the side hustle in the UK by selling on the likes of eBay, Facebook Marketplace and Olio.
Public auctions to buy things through in the UK include John Pye Auctions, Simon Charles Auctioneers and The Saleroom.
“I’ve also done this,” another Reddit user chimed in.
“I have specific knowledge about art so I can flip that.
“But overall, with a little diligence, it’s actually very profitable.”
Others added that the key is to look for items with high resale value.
This can be anything from antiques and collectibles to high-demand consumer products, like sold-out Stanley Quencher designs or hard-to-find viral goods.
They added that items in good condition typically fetch higher prices, so it’s worth giving your stock a good check for any flaws before buying it.
Based on new research from Finder, an estimated 22.8 million Brits are using side hustles to top up their income.
Among generation those aged 18-23 68 percent have a side hustle in 2024.
Those aged 24-42 aren’t far behind, with 65 per cent having an additional source of income.
Side hustles are less popular among older generations, with 40 percent of generation those aged 43-54 having one.
Whereas 23 percent of people aged 55-73 and just 7 per cent of those aged 74 and over are earning extra cash this way.
