What will you do with that pricey leather L.A. Clippers jacket that Cousin Betty bought you for Christmas - when you're a Lakers fan?
Can you really use that refabricated transistor radio Grandpa Smitty left under your tree when what you really wanted was an iPad Mini?
If you don't have the heart to tell Aunt Greta that you have no use for the eco-friendly Rubik's Cube she bought you - and there's no gift receipt - you may have another option.
A new website called Present Trader at presenttrader.com allows people to exchange the gifts they received for the ones they really want.
Present Trader allows you to offer a gift you want to dump and find one you want to get in exchange.
The site matches people based on location and the types of gifts they want to trade. Categories include women, men, boys, girls and electronics.
Present Trader keeps the exchanges relatively local by limiting the distance between two people trading gifts to 100 miles.
Once you find the right match, you make the exchange.
But this can be a risky approach. The website does not guarantee the exchanges. So if you send someone a brass-plated shoehorn, and you don't get the matching badminton rackets agreed upon in the exchange, Present Trader is not liable, according to the website's terms of service.
A company representative did not return an email seeking comment.
Present Trader may deny access to users who don't follow through with an agreed exchange, demand money for a gift or other violations.
One way people try to avoid giving the wrong gift for Christmas is to give gift cards. But even that can backfire.
For example, a sports fanatic may have little use for a $25 Hello Kitty gift card.
For those situations, there are websites that allow you to sell or exchange unwanted gift cards.