The auction site estimates that two-thirds of people receive at least one gift they don't want to keep.
Hundreds of thousands of searches for unwanted gifts are also expected on the site over the next 24 hours, with more than 200,000 recorded last year.
TradeMe spokesperson Paul Ford says items such as perfume and household electronics are regular features in the unwanted gifts section.
Some of the most expensive of the unwanted gifts on the site at the moment include a one thousand dollar drum kit and the latest iPhone.
And a survey finds that New Zealanders are generous in buying gifts, but are also prolific re-gifters.
Groupon, a daily deals website, says the survey shows New Zealanders expect to have spent an average of $439 on Christmas gifts this year.
Chief executive Alistair Venn says that on average New Zealanders give 11 gifts, nearly double the average of the Asia-Pacific region.
But 45% of those surveyed say they re-gift, or pass-on, unwanted gifts.
Mr Venn says two thirds of New Zealanders surveyed say their main concern is staying within their budget.