According to recycling website Musicmagpie, the average woman owns £204 worth of clothes they've worn only once, while 70 per cent of Brits have bought a garment over the last year that has yet to make it out of the wardrobe.
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eBay has always been a great place to get rid of stuff that's cluttering up your home, and many Brits will be only too happy to take items of clothing off your hands via the auction site. If you choose this route, it's worth checking out similar items that are for sale to give you a good idea of the price you can realistically expect.
It's also important to put some thought into your listing. Consider what buyers will be searching for and put those key words into your listing, while being honest about any damage. Once your item sells, you'll have to pay a final value fee of 10% of the final price, but a basic listing is free if you start the bidding at 99p..
For those that have a pricier item that turned out to be a fashion mistake, it's worth considering Asos marketplace, where good quality items can be snapped up by fashion conscious buyers. For just a 10% commission from the eventual sale, the site will promote the item for three months, but will only accept decent photos that are modelled by a person and taken in natural light. Though you can set a fixed price, buyers are also able to make an offer on a particular item.
If auctions aren't your cup of tea, you could still turn rags to riches by selling your old clobber locally. Websites like Gumtree and Preloved provide classified ads online, allowing buyers to search by area as well as item. Once again, you'll need to think carefully about the keywords you include in your advert, but the advantage of these sites is that there are generally no listing fees.
Check out your local area to find a nearly new store. Just like big-name high street shops, these second-hand clothes stores usually prefer to stock items aimed at the coming season - coats and jackets in autumn, summer dresses in spring and so on. Most will take a commission of at least 20 per cent but will generally display clothes for three to six months. Give them a call to see what you might have that will sell well.
Vintage clothing stores are also a great place to start if you have items that are more than 20 years old. Vintage gear has been growing in popularity and subsequently more and more shops are springing up, so check your local area to find one near you.
For a commission-free selling idea, try a car boot sale. While you often won't get a fantastic price, pitches cost around £10 and if you are selling a lot of items the cash can quickly mount up, even if each item goes for a pound or two. Boot sales are a haven for hagglers though and most bargain hunters will be prepared to negotiate hard so set a minimum price for each item before you head out.
If you're just desperate to clear some space in the closet, a recycling website will bag you a few pennies and get rid of your unwanted clutter. There are a number of sites that will take items off your hands, and prices vary depending on which one you choose.
Musicmagpie, for instance, will price garments according to size, brand and type. You'll be given your price online, and can then send it in for free. Other sites charge by the kilogram. Both Clothes For Cash and Return To Earn pay 60p per kilo, and will send out a collection pack and pick up your items free of charge. Both will pay you direct either via PayPal or by cheque. They won't, however, take damaged, stained or faded items so do check the website before you bag up your belongings.
So why not give one of the above options a go? You might not make a mint, but at least you'll have room in the wardrobe for all those January sales purchases.