Closing Store and Getting Rid of Inventory

[soficollection]

A few years ago we bought our eBay store from a relative that had to suddenly move and couldn't take the store with them. It was very profitable early on and we easily made our money back. And while we were making money on it, the store was always on the back burner and mainly passive income for us. Sales have gradually decreased but until last month still made money with minimal effort. We know that there are ways to kickstart the store sales but being a clothing store that was already outdated when we started, we have no desire to make the effort to do so.

What's the best way to get rid of the inventory we have? I've already been running clearance sales that barely back even, so it's more about just getting rid of the clothing. I've tried finding local (Phoenix) buyers and had conversations with one that fell through. I'd like to make something off of the sale but not expecting much. What options should I look into or at this point, should I just look into donating the items?

[silverstatetreasureboxes]

@soficollection 

     Since I volunteer at our local thrift, donate the clothes please. Ask for a donation slip and claim $500 next year in taxes. We use all the money we make at our beautiful thrift shop to supply our food Bank and also help out young men trying to get jobs. Thank you for considering this option! Best to you.

[nobody*s_perfect]

How much inventory is left?  Have you already set up listings for all of it? You could just drop the store subscription and use the 200 free insertions that non-stores get each month.   

[dhbookds]

First, you could close the store and just leave the stuff up.........with the free 200 listings it won't cost you anything (I'm assuming you have a month to month store and won't have to pay the end fees on a yearly store)......  You could try putting Best offer on.......but watch the fees on the free shipping stuff.........  or you could lot sizes together......that would mean taking more pictures tho.....

I'm not a clothing seller, but I doubt anyone is going to give you anything for most of that.........you could run a g sale...but that's problematic......I'd just probably donate....

[jayjaspersgarage]

Turbo tax gives generous write offs for used clothing.  I don't know how much better the write off is for brand new clothes  I would imagine that you will do better donating all of it to a charity and keep an accurate inventory for tax time in 2022.  

Glad you made your money back.  You might be able to unload all sorts of extra things at the same time you donate the inventory.

[soficollection]

We've got about 150 listing  left with around 500 items total plus some unlisted items that we never got around to. For the last year we've made around $100 per month but last month it just fell off a cliff with only one minor sale. Mainly just want to move on from the store, don't really see sales going back up.

[soficollection]

Donation is definitely an option I'm looking into.

[silverstatetreasureboxes]

@soficollection 

     Sofi, another idea is safe houses for teens. These poor young kids often only have a few pieces of old clothes and poor self image also. They would like to get jobs but don't have anything decent to wear to interviews.