Garage sales are a great way to clear out clutter and get rid of all your excessive stuff while making some cash. However, don’t let the sentimental value of old items stop you from selling or ask for unrealistic prices. Follow this pricing guide to have a successful sale and to make as most money as possible.
Freebie Box
Have a freebie box is a great way to draw people in. At the end of the day, whatever you don’t sell or is not picked up can be donated.
Clothing
Clothing can be tricky because it is all over the place in regards to style, sizes, quality, and wear. Don’t sell clothes with stains, holes, or rips. Kids clothing gets a good amount of wear and tear so don’t price too high. Nobody wants to lots of money on secondhand outfits. Ask more for name brands and new items with tags. While you’ll make far less than what you paid for the item, it’s better than having it wither away in your closet or donating it.
Antiques
Many antique collectors strategically buy from unknowing sellers who have items of great value that they were gifted over the years. Look for a reputable antique dealer near you, and consider getting a second opinion. Also keep in mind that the value of antiques increases over time.
Get Ready To Bargain
Price some items higher and be ready to barter down for a more reasonable price. Be honest with yourself about the quality of what you are selling. Keep in mind that if your prices are too high, a buyer might as well purchase the item new.
Clean items off as best you can before placing them out for buyers to view. Make them look as nice as possible and give the illusion that they are worth more than they are. This will convince the buyer that they are actually getting a great deal and convince them to spend more money than they’d normally be willing to.
The Rule of Thirds
If you are unsure what to price something and need a good starting point, try to remember what you paid for the item. If this new washer dryer set cost you 300 bucks, ask for 1/3 of that and aim for around 100. Chopping the price you paid into 1/3 will ensure a good and fair deal for the buyer but also give you a fair amount of your money back
Doing a little research before setting up your sale so you know what is fair to ask for and ensure that you don’t get ripped off or rip anyone else off.
Team up with the Neighbors
If you’re having a garage sale, your neighbors may want to join in. In fact, having a multi family yard sale benefits everyone involved. More people are likely to come to a block with several garage sales instead of just one. Before you even begin your sale, exchange ideas and brainstorm fair price marks. This will keep things consistent and encourage more people to shop at your sale.
Pricing a garage sale can be tricky, but it doesn’t have to be! Follow these guidelines to ensure your pricing is fair and that you’re getting your money’s worth.
