We have some exciting news to share! The Motley Fool UK has now become The Twelfth Magpie -- an independent, UK-owned company, led by our long-serving UK management team — Mark Rogers, Chris Nials and Heather Adlington. In practical terms, it’s the same team you know, now fully focused on serving our UK readers and members.

Just as importantly, our approach remains unchanged: long-term, jargon-free, and on your side. This site is our new home, and there will be extra tweaks made across the coming few days as we settle in. So if anything looks a little off, please bear with us!

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

What you need to know about IKEA’s buy back scheme

The IKEA buy back scheme will be rolled out as soon as restrictions on non-essential shops ease. Here’s a reminder of how it works.

Twenty pound notes in back pocket of jeans

Image source: Getty Images.

You’re reading a free article with opinions that may differ from The Twelfth Magpie’s Premium Investing Services. Become a member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more, and get a free 'Best Buy Now' stock!.

The IKEA buy back scheme due to launch last November will finally be rolled out when restrictions on non-essential shops ease. Here’s a reminder of what it’s all about.

What is the IKEA buy back scheme?

It pretty much does what it says. IKEA will buy back your used IKEA furniture in return for a refund card which can be used in store. Your pre-loved furniture will then be sold online or in store. If it can’t be sold, as much of it as possible will be recycled.

Should you buy Rolls Royce shares today?

Before you decide, please take a moment to review this report first. Despite ongoing uncertainties from US tariffs to global conflicts, Mark Rogers and his team believe many UK shares still trade at substantial discounts, offering savvy investors plenty of potential opportunities to learn about.

That’s why this could be an ideal time to secure this valuable research – Mark’s analysts have scoured the markets to reveal 5 of his favourite long-term ‘Buys’. Please, don’t make any big decisions before seeing them.

The scheme is set to start as soon as non-essential shops can reopen. Based on the government’s roadmap, that’s potentially 12 April 2021 but will be subject to evolving coronavirus data.

The IKEA buy back programme was originally unveiled towards the end of last year and was trialled in IKEA’s Edinburgh and Glasgow stores. A full rollout was meant to happen in November 2020, but it had to be postponed thanks to the pandemic.

Why has IKEA launched its buy back scheme?

It’s all about sustainability and IKEA says “it also helps us to become more people and planet positive and to transform into a circular economy”.

The move is the latest initiative in IKEA’s drive towards sustainability. The flat-pack giant has already vowed on its website that all of its products will be made from recycled or regenerative materials by 2030.

What will IKEA buy back?

Naturally, IKEA won’t be buying back any old junk you want to flog. For starters, items must be from IKEA and should be in good condition. Only certain items will be considered too.

Currently, IKEA will only consider ‘hard furniture’ like tables, bookcases, chairs and cabinets. And they must be fully assembled.

Soft and upholstered products like mattresses, sofas and textiles won’t be accepted. You can find a full list of what’s included in the scheme in IKEA’s buy back terms and conditions.

All items will be checked by an IKEA expert and priced accordingly. If an item is considered to be as good as new, you’ll get back 50% of its original value. A few minor scratches will mean you get back 40% and if it’s got lots of scratches, you’ll get 30%.

Is the IKEA buy back scheme worth doing?

The initiative is all part of a worthy cause. And there are few people who could argue against the importance of being less wasteful and looking after the planet. But, whether you want to hump your Billy bookcase to your local store is entirely up to you.

Remember, there are other ways to sell or recycle old and unused furniture. Sites like eBay, Facebook’s Marketplace, and Gumtree (check out Sean’s article on Gumtree) are just a few examples of where you can advertise your old stuff.

Importantly, with these platforms, you can specify that buyers must collect, so you can leave all the huffing and puffing to them.

More on Personal Finance

happy senior couple using a laptop in their living room to look at their financial budgets
Investing Articles

Plan to fund your retirement with just the State Pension? Good luck with that!

The UK's State Pension is ranked as one of the worst among the world's developed economies. Consider this alternative to…

Read more »

Note paper with question mark on orange background
Personal Finance

Should you invest your ISA in a model portfolio?

Which model ISA portfolios offer both high performance and low fees? Hargreaves Lansdown, Interactive Investor and AJ Bell go under…

Read more »

Economic Uncertainty Ahead Sign With Stormy Background
Personal Finance

Is it time to exit emerging markets investments?

Investors may well be sitting on losses from emerging markets funds. Is it worth keeping the faith for a sustained…

Read more »

Personal Finance

Share trading? Three shares with turnaround potential

Share trading has been difficult in 2022, but which companies have turnaround potential? Jo Groves takes a closer look at…

Read more »

Man using credit card and smartphone for purchasing goods online.
Personal Finance

Revealed! Why Gen Z may be the savviest generation when it comes to credit cards

New research reveals that Gen Z may be the most astute when it comes to credit cards. But why? And…

Read more »

Environmental technology concept.
Personal Finance

The 10 best-performing sectors for ISA investors

The best-performing sectors over the past year invested in real assets such as infrastructure, but is this trend set to…

Read more »

Road sign warning of a risk ahead
Personal Finance

Recession risk ‘on the rise’: is it time for investors to worry?

A major global bank has suggested the risk of a recession in the UK is 'on the rise'. So, should…

Read more »

pensive bearded business man sitting on chair looking out of the window
Personal Finance

1 in 4 cutting back on investments amid cost of living crisis

New research shows one in four investors have cut back on their investing contributions to cope with the rising cost…

Read more »