Do you have Modern Treasure stashed in your garage or attic? Here’s what to look for when you’re cleaning up for the summer

Let’s face it, the current economic climate is still tough. The cost of all basic necessities is high, leaving us with less money for the pleasures we all deserve.

That said, it doesn’t really matter what financial situation the world is in. We can always use some extra money.

In my book Money Maker I discuss how households across the country may have thousands of pounds to spend.

This may be because people do not understand the intrinsic value of unused items, because they consider them as waste. It may also be because they do not have the knowledge or confidence to extract value from these items as efficiently and profitably as possible.

Generally speaking, most of us don’t like big cleanups, especially when you’ve collected so much stuff (that you consider useless) that it could take up the entire room.

This has happened to me several times, because I am a magpie.

As a jeweler I am naturally curious about things, so I collect a collection of the most unusual items you can find.

But my problem was that I had collected so much of it that I had to rename my home office the room of doom, because it was filled to the brim with stuff I never used.

Fortunately, after my husband’s stern words and listening to my own advice, I cleared out all my knick-knacks and collections and sold them for money I could put to better use.

It also means I can write this article there without fear of Aladdin’s cave collapsing on me.

One area that is often overlooked, but could hold a pot of gold, is the garage. It’s one of the first places us Brits pile up all that old stuff we don’t want – out of sight, out of mind.

Did you know that we have 11.4 million garages in the UK, but only half of them are actually used to park a car? The rest are an extension of the garden shed, a place where we store stuff we don’t use or don’t know what to do with?

That means there are 5.7 million garages out there probably filled to the brim with stuff we can sell (and as I said, sheds – there are 9.6 million of them in the UK, probably hiding treasures too).

So now is the ultimate time to get those spaces in order and make some extra cash to line your pockets. With the second-hand market set to surpass £10 billion this year, demand for pre-loved has never been higher.

I hear you asking: what kind of items can you sell and for how much?

If recent research is to be believed, as much as £2,600 per household could be stored in these spaces. So you’d be a fool not to follow my handy guide on how to put some of this value into your own bank account.

Sports and hobby equipment

A recent study found that most adults give up a hobby after just 16 months.

There will be various life factors that could give a good reason for this, but if it is true, we can safely assume that most households have hobby items that are gathering dust when they could be making money.

Sports and fitness equipment is a particularly large source of income. It is estimated that the British have £1.5 billion worth of unused items lying around. That equates to around £200 per household that is not being fully utilised.

I am a good example of this myself as my golf clubs sat in the garage for nearly ten years when I could sell them for between £150 and £1,000.

We often store larger sports equipment in the garage, such as running machines, exercise bikes and weights.

All of which will be very popular on the second hand market. Smaller items such as tennis rackets, roller skates, fishing tackle, painting equipment and sewing machines are also very popular and can fetch you tens or hundreds of pounds.

Even your old sleeping tent can be sold for £200 if it is still in good condition.

Another piece of sports equipment that can earn you a pretty penny is a bicycle.

Research by the cycling club has shown that approximately 34 percent of the adult population has one or more unused bicycles and that 15 percent of households have one or more unused children’s bicycles.

Depending on the condition, make and model, an average adult bike can fetch a cool £200, while some children’s bikes can fetch £80 to £130.

I find community marketplaces like Gumtree and Facebook are great sites to sell unwanted bikes.

Tools

We spend £20 billion on tools every year and research shows that at least £2 billion of that goes unused and 10 percent has not even been opened.

Power tools and even hand tools are a huge market, so a thorough clean-out can quickly save you a lot of money.

There are numerous places where you can sell tools, such as cash4tools.co.uk and toolsquirrel.co.uk, as well as your usual e-commerce sites.

Old magazines, newspapers and their supplements

After the death of Her Majesty Queen Elizabeth II, newspapers describing this historic event were published and sometimes sold for hundreds of pounds.

Big headlines can often make a lot of money, but I find it’s best to sell these papers right away to maximize your earning potential.

For example, newspapers reporting Queens’ death sold for £200 in the first hours after publication, but now cost as little as £3 to £5.

Even if you earn a few cents for an old newspaper because someone wants to own a piece of history, that’s not a hard task.

However, if you have stacks of old newspapers that are still in good condition, you can make a pretty penny off them, but rummage through them to make sure you’re not selling a stack with one of the following headlines. Because one of these headlines could make you a fortune:

The Cuban Missile Crisis – £500

The Death of Elvis Presley – £300

The Great Train Robbery – £200

Prince Charles and Lady Diana’s Wedding – £200

Death of Princess Diana – £100

CDs, cassette tapes and vinyl

You might think that these old ways of listening to music are a thing of the past, but the digital age has actually fueled a nostalgic longing for the way we used to enjoy music.

In 2022, 19 percent more cassettes were sold than the previous year and overall the popularity of cassette tapes has increased by 94.7 percent since 2020.

Vinyl has also been popular for 30 years now and even mass produced copies of certain records can sell for around £12 each. Rare vinyl releases can fetch you thousands:

An original Australian pressing of David Bowie from 1969 sold for £7,100.

The very first copy of The Sensational World of Kate Bush sold for £2,200.

There are several factors that affect how much you can ask for your old CDs, cassettes, and records, such as the popularity of the artist and the condition of the item. But like I said, even with mass-produced CDs, you can still make money. I find that you can often sell them quickly if you sell them in bundles.

Old furniture

To you it may be trash, but to many others these items can be an absolute treasure, especially in the upcycling industry, worth a staggering £160 billion a year.

Last year alone, the term “upcycling” was searched for 3 million times online. Further research shows that around 44 percent of the population has tried it, and it has quickly become one of the most popular hobbies in the country (let’s hope people don’t get tired of it in 16 months).

So you can really benefit from this trend by selling your old furniture to someone who wants to give it a new life.

As always, remember to do your research on the items you are looking to buy. You don’t want to sell your Chippendale for a few pounds when it is actually worth thousands.

There are hundreds of other items you can sell for a profit, especially as we all become more climate conscious and try to live more sustainably.

Since there are different factors that affect everyone’s wallet, buying second-hand is cost-effective and helps the planet, so everyone benefits.

I highly recommend that you do a thorough cleanup of your storage areas. Not only will you be able to use your garage or shed again, but you will also be able to earn enough money for a vacation or something you have been wanting to treat your family to for a long time.

Submit your modern treasures

Dan Hatfield: Our columnist is ready to value your modern treasure

Dan Hatfield is This Morning’s money-making expert and resident pawnbroker. He is an international specialist in antiques, jewellery, diamonds and collectables.

Dan’s first non-fiction book, Money Maker: Unlock Your Money Making Potential (£16.99, published by Hodder Catalyst) is available now.

Modern Treasures is looking for your items and collections for appraisals.

Please send as much information as possible, including photos, to: editor@thisismoney.co.uk with the subject line: Modern Treasures

We are looking for post-war items only. We may contact you for more information.

Dan will do his best to respond to your message in his biweekly column, but he cannot reply to everyone or correspond privately with readers.

Nothing in his answers constitutes regulated financial advice. Published questions are sometimes edited for brevity or other reasons.

As with anything, if you have items and collections to sell, it is wise to get second and third opinions and not rely solely on Dan’s suggestions.