9 Ways to Turn Unwanted Gifts Into Cash...

When it comes to receiving holiday gifts, really, it is the thought that counts. (Cue the unworn sweater sitting in the attic, the books you’ve never read and the electronics you never quite figured out.)

Unless you need to keep the gift around to showcase it whenever the giver stops by your home, why not turn your unwanted presents into an opportunity to make a little cash, or exchange them for something you’ll truly enjoy?

Here, nine ways to turn wayward gifts into something you’ll actually appreciate.

This is the easiest way to deal with an unwanted item and get something you actually want. Check to see if the giver included a gift receipt, which will make the process a cinch. If not, don’t fear! Many stores will exchange gifts for store credit even if you don’t have a receipt. However, it’s important to try to return it as quickly as possible, as stores are more lenient about exchanges around the holidays.

If you donate items to registered charitable organizations, you’ll be able to claim a tax deduction, as long as you itemize your deductions come tax season. While it’s not immediate cash, this method will pay off in April! (Plus, you’ll be helping out one of the many charities in need.) In addition to big organizations like the Salvation Army or Goodwill, The Giving Effect has a list of more than 1,600 charities that are looking to receive items.

If you’ve received unwanted electronics or something else of significant value, consider selling your item online. It may take a while to sell—unless your gift is very much in demand—but sites like EBay, Craigslist, and Amazon Marketplace make it easy for you to create a seller’s account and market your gifts.

Selling electronics? Sites like BuyMyTronics or Gazelle will buy your item from you directly, giving you a quote immediately based on the model and condition.

If you’ve received a gift card you know you’ll never use, it’s literally like holding onto cash. Don’t waste it! Check out some of the many sites that will buy back your gift cards; see our guide here for the complete list.

Swap sites make it simple for you to exchange your items for ones you’ll actually get use out of. Post a photo of your objects, and start swapping with other members! Check out this comprehensive list of the 36 best swap and barter sites online.

Let your unwanted presents inspire you to clean our your basement, attic, or garage, and throw a yard sale. Yard sales are a perfect way to turn clutter into cash, and there’s very little effort involved, aside from putting up a few signs in your neighborhood. One piece of advice: Unless you live in a region where it’s warm year-round, wait until spring or summer to offload your items, as people will be more likely to browse if they’re not shivering in winter coats.

If you don’t have time or energy to sell your items or host a yard sale—but you definitely don’t want those unwanted gifts cluttering up your home—don’t throw them away. Instead, use a site like Freecycle: Post an item, and then an interested member in your city or town will come pick it up for free. This helps the environment, and ensures that your gift will find an appreciative home.

Chances are, many of your friends or relatives will also have unwanted gifts, creating a unique social opportunity. Invite some of them over and tell everyone to wrap the presents they want to get rid of. Based on the number of people at the party, have everyone choose a number out of a hat. Have the person who drew #1 select a gift from the pile. When it’s #2’s turn, they can either “steal” the first person’s gift, or choose a different one from the pile; and so on.

Thought regifting was totally tacky? Well, a lot of people disagree: 79% of people surveyed by American Express believed that regifting was acceptable around the holiday season. If you opened up your present and thought, “Not for me … but I know exactly who would love this!,” consider regifting it. One piece of advice, though: Only regift if you actually believe that the next recipient will appreciate the item—don’t just do it to offload a truly undesirable item on another friend!