Anyone else hosting a garage sale in the near future (um, like in 4 days)? I'm guessing a good portion of you might be, so let's talk GARAGE SALE TIPS today! More specifically, I've got 5 tips to share that are designed to help you maximize garage sale profits.
I must admit...I have mixed feelings about garage sales.
On the one hand, executing them properly takes up a crazy amount of prep time, not to mention the hours you spend hanging out in the garage during the actual sale. On the other hand, if you have a ton of items that tend to sell well at garage sales (i.e., kids' clothing and toys, tools, etc.,) they can be a good option for cashing in after you complete your spring decluttering.
My #1 piece of advice regarding garage sales is to be certain that the time and effort you will expend will be worth it in terms of the cash you anticipate bringing in.
With that being said, here are a few quick tips for running a successful (& profitable) sale.
HOW TO MAXIMIZE GARAGE SALE PROFITS
Prepping for your garage sale not only includes corralling all of the items that you want to sell out to the garage and setting up attractive displays. It also involves assessing the value of each item and putting a price tag on it.
As part of the process, you may need to conduct a little research for higher ticket items to determine their value. I suggest taking a look at what similar items are selling for on Craigslist and eBay to use as a guide in your pricing (which should be a bit lower in a garage sale). You may be surprised to find that something you’re planning to price at $5 is actually a pretty hot commodity on the eBay market!
Shoppers like to see price tags. It gives them a place to begin the haggle process. Be sure to factor in a bit of “haggle room” when you price your items.
To simplify things AND save yourself some work, group like items together in bins and price all items the same if it makes sense.