$500 million wasted on unwanted giftsAustralians have been lumped with 19 million unwanted gifts this Christmas, but thrifty types are likely to turn their disappointment into an easy buck, a survey suggests.
And the value of those less-than-desirable pressies is worth a predicted whopping half a billion dollars - money that was probably better off not spent.
That's according to research commissioned by online auction house eBay, which also found one million people are expected to sell their dud gifts on the internet once yuletide has passed.
The 1500 respondents who took part in the online in October and November answered a series of questions about last year's Christmas gift-giving habits.
Based on the results, more than half the nation (54 per cent) received at least one unwanted present this year worth about $73, eBay says.
More women received unwanted gifts than men (56 per cent to 51 per cent), and women are also more likely to sell those presents online, with nearly two thirds fond of the practise compared to half of the male respondents.
Interestingly, those in higher income brackets are more likely than others to auction off their Christmas disappointments, eBay says.
Almost two thirds of those earning between $70,000-90,000 and $90,000+ said they find the idea very appealing.
Those aged 25-34 received the most unwanted gifts, and nearly 10 per cent of that age group reported selling them online for cash, the survey found.
The average return for doing so was $76, while more than 10 per cent say they've made between $100-$199.
And the extra funds are put to good use.
Almost half of the respondents, aged over 18 and represent all states and territories, used the money to pay bills.
Forty per cent bought something else they preferred, and more than a third (38 per cent) saved the cash.
Close to one quarter splashed out to treat themselves, while a thoughtful 15 per cent spent the money on someone else.
eBay spokeswoman Jenny Thomas says more Australians than ever before shopped online this year in the hunt for Christmas bargains.
"Despite this, there are always the inevitable duplicate presents, wrong sizes or just bad present choices," she said in a statement.
"For those unlucky individuals, there is a great opportunity to sell on unwanted presents and make some extra cash to cover bills, or to buy something you really want."
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