Yahoo Finance What to do with unwanted Christmas presents
Hargreaves Lansdown did some research a few years ago into the worst Christmas presents people had ever received. The findings included a five-year old who had asked for a crocodile toy and was given a real crocodile skin handbag, a 12-year old whose uncle bought him a voltmeter two years running, a woman who was given a shovel despite not having a garden, and two lucky teenagers who had received coat hangers.
Fortunately, it’s not too late to get something out of our unwanted gifts.
What are you rights?
If the present was bought online, close to Christmas, there’s an outside chance it was bought less than 14 days ago. This gives you the right to return it for a refund — no questions asked — although you will need proof of purchase from the person who bought it for you. Understandably, not everyone is prepared to have this sort of conversation with friends and family, which leaves you with fewer options.
Unfortunately, aside from this rule, you don’t technically have the right to take anything back to the shop simply because you don’t like it.
You’re on firmer ground if it’s faulty, the Consumer Rights Act of 2015 gives you the legal right to an exchange, repair or refund because the item they sold should have been of satisfactory quality, as described, fit for purpose and last a reasonable length of time. However, if you just don’t want it, your options will depend on the policies of the retailer in question.
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Fortunately, a lot of them are pretty flexible around Christmas. If you want return an item by post, they may make you pay for postage, or take an admin fee, but it may still be worthwhile.
It helps if you have a receipt, or a gift receipt, but even if you don’t, it won’t hurt to check. They might offer an exchange or a gift card rather than a refund, and if the item is on sale at this point, you are likely to only get the sale price back. However, it’s better than nothing.
Stores also tend to extend their returns periods around Christmas. Typically you have to have bought the item within the past 30 or 35 days in order to request a refund. However, even if this period has elapsed, check the policy of the retailer. John Lewis, for example, will let you return Christmas gifts up until 23 January and M&S up to 28 January.
Even when it looks like the situation is hopeless, it’s always worth asking, either in person, on the phone, or via a webchat. You may not get any joy, but if you might find the company is willing to offer you something as a goodwill gesture.
What to do if you can't return an unwanted gift
If you can’t take the item back, you could consider selling it. You may not get anything like the full value, even if it still has the tags on it, but it’s better than nothing.
Ebay is still the biggest player, but it’s worth timing your sale for when there’s a special deal on fees, or you could end up losing more of the sale price than you expected.
It’s also worth considering specialists — like Vinted or Depop for clothes — which have different selling structures, so could save you postage and fees. If you’re trying to sell books, CDs or DVDs, there are other specialists, like Music Magpie, which make it easier to sell larger collections of items.
However you sell, make sure the transaction takes place entirely through the system so you have the protection offered by the marketplace, and if the buyer is collecting the item from you, make sure you have someone else with you.
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If selling doesn’t appeal, you can still hang onto the unwanted present and regift it later. However, if you’re as unlucky as the people in the survey, you have to ask whether there really is anyone in your life in need of a voltmeter or a crocodile skin handbag.
If all else fails, a charity shop may be grateful for the donation, and if you gift aid it, higher or additional rate taxpayers should be able to claim back the extra tax on their tax return — so you end up benefitting from it after all.
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