How to price Garage sale items
If you are going be having a garage sale in the near future one of the things that you could be struggling with is how to actually price garage sale items. Over the course of this article we will teach you a little more about yard sale pricing, how you can do well at local garage sales as well as how you can take advantage of some free garage sale advertising.
The first step of planning any garage sale however is finding items that you will actually want to price for sale. Here are some top tips that you can use on de-cluttering your home and figuring out which items would be best to use in your garage sale.
Understand the type of sale that you want to have:
There are usually two different types of garage sales, there is one where the goal is to make money where as another is to simply get rid of items. If you have a number of items that you would like to sell the make top money, or you have been frequenting other garage sales to collect items to resell, you will instantly have an inventory of items to put out. Picking other items that can go in your garage sale to de-clutter your home isn’t always a good move if your plan is to focus on profits alone.
You have to treat any garage sale just as you would a storefront. Start a few weeks early and start laying out some of the merchandise you want to sell in your basement or in your garage. By putting together some sales tables you can quickly move all of the items up to your garage or just outside to display them.
If it’s junk don’t try and sell it:
if there’s something that you should really just take to the dump it could be a good idea to consider just throwing it out. De-cluttering your home is one thing but junk items can devalue the rest of your garage sale and send people back to their cars in a hurry. Having many nice items out can help you with your negotiating power and avoid the chance that someone could be walking away with some other items for free as part of their purchase.
If you don’t use it think about selling it:
a good rule of thumb with any household is if you haven’t used an item in the last six months and if it is imperative that you have that item in your home for an emergency, you may want to consider listing it for sale. This is a great way to save on space and get some extra income on useful items that could have been buried in your closet or storage room for years.
After picking out some items for sale it’s time to start coming up with some pricing strategies. With a garage sale the optimum experience you can have is when everything you list out is sold by the end of the day. There’s nothing worse than having to put all of your items back into storage or wait for the next weekend to put it all out again.
With yard sale pricing it’s always best to price items a little bit low. After all, it’s not like you have a storefront to pay for or any need to introduce a retailer markup on the items. Even if the items are gently used you should consider pricing them at rock bottom value so that you can attract visitors and make sure that everything sells.
Even a number of small items that sell at a smaller price can add up overall. It’s not unusual for a family garage sale that happens every few years to profit $1500-$2500 over the course of a Saturday, especially with a few big-ticket items involved.
As many would suggest from local garage sales it is much more frustrating to put away everything by pricing it too high than having everything sell at a price that is significantly lower than what you could have gotten for it selling online. The purpose of a garage sale is to have all of your items available to the community and to sell them off quickly! Profits are certainly to be had too though.
Should you use price tags?
One of the most common questions for garage sale creators is whether or not they should use price tags over simply having items out and haggling over the price with the buyer. While there are many buyers that are likely to ignore the price tag or knock 50% off the price tag upon seeing it, having at least an idea of what the seller wants for the item can be helpful. Even just placing a small sign on the table with a price listing for various items can give people an idea of what you are asking for the main items in your yard sale. Most shoppers want to see a price tag so that they know where to start haggling. This can take a little more work for your setup but it will attract a lot more business.
Many buyers also prefer to have each item individually priced. You don’t have to buy an official pricing gun but you can use masking tape with the price written on it instead. The nice part about using masking tape is that you can strategically cross off prices and price them down through the day to help items move towards the end of your yard sale.
Try not to place a Make an offer price tag out as people always want to have at least some type of starting bid or price to go off of as a reference. Many people apart from season garage sale visitors are generally uncomfortable coming at you with an offer to begin with but they will deliver some reasonable offers on a price tag.
How do I find the value of items?
You may often see people on their phones at garage sales. There are a number of people that look up listings that state “garage sales near me” so that they can go around picking up collectibles and valuable items. There are a number of people that list valuable antiques, art and a huge number of toy collectibles at garage sales. If you have anything that older or anything that you may think that could be very valuable you should strongly look it up on a number of sources.
Most of the people that are on their phones at garage sales will be looking at the Salvation Army value guide, eBay listings, amazon listings and potentially even local classifieds sites. If you see that some of the items you have are collectibles you should strongly consider keeping them out of your garage sale and selling them by private sale if you want to make a larger profit on them.
The same method can also be used if you don’t truly know the value of an item. If you want to know a fair price for a used vacuum for example you could look for a similar model on eBay or in a local classified site and then price it competitively against the offers there. If your yard sale visitors can get the item cheaper from your yard sale, they will be likely to buy it.
There are also some standard prices on typical household and entertainment items:
Usually books can be priced from $.25 up to a dollar, CDs will go for around a dollar in DVDs will go for $2 apiece. Clothing is another place where you can make lots of small money by pricing items between $.50 to three dollars. The reason for pricing clothing and books this low is to beat out local thrift stores and to really attract buyers to your yard sale.
Why you need free garage sale advertising:
Free garage sale advertising is imperative that actually bringing people into your garage sale as well. There are many people that are likely going to be searching for “Garage Sales Near Me” to plan out there weekend based off of online classifieds. Some of the best places to advertise your garage sale are:
- Free Garage Sale Advertising at Grrab-it
- Print Garage Sale Sign Template
- The local paper
- Local community message boards/forums
- Posting a sign at the local pool or YMCA/College campus
- Placing up signs in the area.
- Setting a social media event/tweeting to your followers to spread the word
What should you do if you aren’t making sales?
Near the end of the day if you haven’t made that many sales you could consider having a limited time sale on some of your items. By going to some of the closest signs in the area and adding a 50% sale between 3-4pm and advertising a half-price off sale at your yard sale, you can make sure anyone visiting your garage sale late will get some closeout sales. This is an excellent way to make sure that everything goes at the end of your garage sale.
If you are planning a garage sale, you should strongly consider some of these top local garage sale tips on yard sale pricing!