Upcycling old furniture could earn you £1,200 if sold online (2024)

A money expert has made five upcycling suggestions that they reckon will earn us money - as little as £173 and as much as £1,200.

118 118 Money say that creative Scots with the time to invest in some DIY could earn as much as £1,200 refurbishing old furniture like chairs and tables.

They are expecting online searches to soar during September and October and recommend we take advantage of the peak in interest and get sanding, painting and selling.

‘Upcycled furniture’ came out as the most common query with 12,100 online searches per month and has risen in popularity by 60% in the last 12 months.

Around 3,600 Brits are looking for ‘upcycling ideas’ each month and ‘upcycled chest of drawers’ is the top item, getting around 2,900 searches a month.

Upcycling projects have become popular with home renovators and shoppers according to google searches with almost two million searches being made each year.

Google Trends – which tracks topic interest over time – is predicting an upcycling boom in September and October 2021, and with Recycling Week on the horizon, there may be no better time to get stuck in and give it a go.

The research by 118 118 Money focused on five popular items that can be found around the home.

Five popular upcycling projects that could earn you extra cash

Using eBay data, they determined just how much profit could be made based on a mean figure which was calculated on both the total value of the highest priced listings and sold items on the popular reselling platform and estimated upcycling supply costs.

1. Upcycled cupboard – potential profit of £347

Based on sanding, priming, painting and varnishing, with costs coming out at around £28.

2. Upcycled table – potential profit of £268

Based on painting with a special furniture/chalk paint, lining with paper and varnishing at a cost of around £55.

3. Upcycled bag – potential profit of £248

Based on using old fabrics to create a tote bag, with costs coming in at around £80 (for a basic sewing machine and threads).

4. Upcycled light – potential profit of £234

Based on using old bottles and a piece of wood to create a pendant light, with cost coming out at around £14.

5. Upcycling chairs (paid) - potential profit of £173

Based on using oil and chalk paints sealed with wax, at a cost of around £46.

Total estimated profit of £1,270

These upcycling businesses can feel more like a hobby than a source of income, according to part-time nurse Anna from Birmingham who upcycles furniture in the evenings.

She started her upcycling business, Anna’s Art House, in October 2020, and uses chalk paint to give pieces a unique design and new lease of life.

Anna’s tips for upcycling furniture:

• Check out your local charity shops. Or if you’re struggling, use sites like Facebook marketplace to find items.
• Invest in high quality, well-made pieces for your work.
• Use well-known sites to boost your exposure and reach bigger audiences but be aware of any fees you could be charged.
• Also, set up your own website to have more control over your profit margins.
• Don’t worry about the piece being too perfect – you can always change it if you don’t like it!

Tips for selling items online

For some people, the biggest obstacle to selling upcycled items can be a lack of knowledge on how to use sites like eBay. If that sounds like you, here are a few tips that could help along the way.

• Make sure you check eBay’s regulations to know how many free listings you get per month once you start selling. If you go over your allowance, there is an additional cost of 35p per item.
• Be aware of any additional fees you will have to pay after making a sale. This is usually 10% of the final sale price (capped at £250).
• If you process the sale payment through PayPal, there may also be a fee for this. Make sure to visit PayPal's Help Centre for information on their service fees.
• If your item has a unique selling point, for example, if it is a first edition, or is rare in any way, this should be front and centre in the description on your eBay post.
• Search for similar items on eBay to see what a reasonable price might be. You don’t want to price your item too high to be bought, but also don’t want a price so low that you are missing out on extra income.
• Make sure you include a good quality photo of your item(s).
• Be open and honest about the condition of the item(s) you’re selling and include a written description and pictures of any flaws, so buyers are aware.

Tax rules to be aware of

Though you may view selling on sites like eBay as just a way to get rid of your own possessions and make a bit of extra cash, income tax and capital gains tax rules could still apply, and you should make sure you do your research on this before selling multiple high value items.

If selling one-off items worth £1,000 or less, you probably won’t need to register as a business or pay an additional tax. However, this can depend on if the value takes you over your Personal Tax Allowance and how frequently you list items.

You should always contact HMRC for advice if you’re not sure, if you are regularly selling items, or you think you’ll exceed the £1,000 trading allowance.

You may also have to pay additional Capital Gains Tax if you sell a personal possession for £6,000 or more.

If you are making over £85,000 per year from an eBay shop, then you may need to pay other taxes such as VAT too, which could require VAT registration.

It’s important to be aware of and follow HMRC rules so you can avoid a potential fine (or worse) later down the line.

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