Garage sales are a great way to liquidate items and make more space in your home while earning some money. but if you’re more used to browning them than holding them yourself, you may not know exactly where to start.
Fortunately, with a few tips, you can learn the best ways to maximize your sales without too much stress. Using this garage sale price guide, you’ll learn the top eight tips for getting the most out of your home cleaning.
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1. follow the 10% rule
There is an unspoken rule in the garage sale world: never charge more than 10% of the retail price. So this means that if you bought an item for $20, you shouldn’t charge more than $2 for the item at your garage sale. If these items are high quality and from luxury brands, you can raise prices up to 20%, but this rule of thumb can help you keep prices low enough to get a lot of sales.
2. consult other garage sales
Even if your garage sale lasts only a day or two, competitor research is still necessary to some degree. It may sound intense, but in this case, this will just involve window shopping at other yard and real estate sales around town and checking their stock and prices. just try not to bring home more items that will end up at future garage sales.
If a garage sale is selling shirts for $1 each and people are buying them in bulk, that’s a good sign you should price your shirts in the same range. you can experiment with raising prices to $2, but then you risk losing money when people only buy two shirts instead of 10.
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3. price items in 5 cent increments
You’ll likely need to give change during your garage sale, and you’ll thank yourself later when you just price items in $0.05, $0.10, and $0.25 increments. Giving change is significantly easier when it’s not about pennies. people tend to pay in dollars and buy in bulk, so you’ll probably need $1 bills as well.
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Make sure you have some bills and coins ready from the start, but following this tip will help you always have change ready.
4. look for hidden gems online
Do you have a collector’s edition item, like an exclusive vinyl or figure? Check prices online first before throwing them on the garage sale table. you may come across valuable items that routinely sell for hundreds of dollars instead of a shiny quarter.
Granted, you’ll have to take care of shipping and handling, but the higher prices often outweigh the additional costs. There’s a reason there are TV shows dedicated to the people who found super rare items hidden away at garage sales.
5. prioritize quantity over quality
With garage sales, you’ll want to prioritize quantity over quality. quality items will often sell higher on an online marketplace or through private sales anyway, so focus on just getting a lot of items out the (garage) door.
then if you have a stack of books, price them from $0.50 to $1 and watch people grab 10 of them at a time. If you give people too many different prices, they are likely to only buy one or two that stand out. shirts, pants, plates, and anything else you have in bulk should follow the same price.
keep individual items separate, such as toys, furniture, and appliances.
6. set the price of items if you have the tag
The only exception to the 10 or 20% rule is if the items still have the tag and have not been used. consider charging 30-40% instead. Remember, these are items that don’t yet have a return policy, so you can’t charge the full price of the item, but you may be able to get a little more for these.
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but instead of keeping it in the same stack as the bulk items, keep it in its own place. organization is a key component of any successful garage sale. be sure to accurately label it as never worn, and you can rest easy knowing someone is still getting a great deal.
7. determine garage sale price by category
Each item you sell will fall into one of several general categories. Common categories you’ll find at a garage sale include:
8. don’t be afraid to haggle
At the end of the day, this is your garage sale. you set the price tags, so you can change them as you see fit. If someone offers a lower price, make a counteroffer as a way to ensure these items ultimately stay out of your house.
Try not to haggle at the beginning of the sale, as someone else may come along and pay full price. wait until the evening when you’re ready to say goodbye to these items forever, no matter the price.
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what should I do with unsold yard sale items?
The best result of a weekend garage sale is that your inventory is empty and your box is full. however, there are usually some items left over after a garage sale, even if it was a success.
after the garage sale is over, take inventory of the remaining furniture, appliances and household items and determine what to do next. If your unsold items are in good condition, consider donating them to a local charity or donation collection service to give back to the community. but if your unsold items are worn out, your best bet is to hire a hauler near you to clean up the mess.
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