GARAGE
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A
garage sale is a great way to save money, or earn money on unwanted
items.
EFFECTIVE AND
SUCCESSFUL GARAGE SALES
A garage sale —what
better way to sell your stuff to others who are willing to
buy it? Or, to go scavenging for hard to find items that
others are desperate to part with.
Here are some quick tips
if you are having a garage sale, or plan to shop at one:
HAVING
A GARAGE SALE
Advertising.
Letting people know in advance that you are having a
garage sale will get those early birds out and at your
sale first thing. Make sure you advertise by listing a few key, anchor
items that will draw attention to potential garage
sellers.
Use Effective
Signs. Especially if you live at the back of a large
neighborhood, it will be critical to your sales success to
ensure you have enough signs that people can find you. If
they can’t find you, they will stop at others along the way,
and will likely give up (in disgust) in trying to find your
house. If you live in a community with a homeowners
association, be sure to learn the homeowner rules before
putting up signs or considering a garage sale in the first
place.
Pricing. Garage
sale items should be priced as inexpensively as possible.
Remember that the sentimental value you place on something
has nothing to do with the actual value a potential buyer
may see. For example, if you paid $20 for a pair of Osh Kosh
overalls for your new baby boy, you can expect to receive
between 50 cents and a dollar in return, depending on how
worn they are. Also, make sure items are well marked,
especially if you have a large garage sale. This will help
shoppers as they browse through all that you have available.
Combine for
Effectiveness. If you don’t have many items to sell, ask
neighbors and friends if they have things they would like to
contribute. The more you have to sell, the more successful
your sale will be, as people will stop if they see a
perceived value. If there are only a few, small items, they
will likely keep going.
No Clothes! Baby
clothes sell VERY WELL at garage sales, as do baby toys and
other baby items. However, adult clothes and shoes tend to
not sell well, as adults are more wary of worn out clothing
and shoes. Avoid trying to sell adult clothes, and instead,
donate to Goodwill, your local women’s/men’s shelter, or
AmVets. All are good causes, and your clothes will go to
better use than they will at a garage sale. You won’t miss
the clothes, and won’t miss the hassle of having to donate
them afterward!
Allow the Early
Birds. If your signage or advertisements say you open at
8am, make sure you are open by 7:30am. Many good shoppers
come very early to ensure they get the best buys. Don’t be
aggravated by the early birds. They are the
professionals—there to spend money.
Offer water, pop,
lemonade, and baked goods. Shoppers will be weary and
bleary going from sale to sale. Any “safe” refreshment you
can sell will enhance your sale in their eyes, and will earn
more money for you as well. A “refreshment stand” run by
kids will win the hearts of most shoppers!
SHOPPING GARAGE SALES
Review the Wednesday
or Thursday evening paper for local sales. Garage sales
tend to run Thursday-Saturday in most areas, so having an
idea of when and where you are going is a great idea. Also,
make sure you hit the road with goals in mind—don’t hit
garage sales just to explore. You’ll end up coming home with
more stuff that might ultimately be sold later at your next
garage sale!
Barter/Negotiate.
All prices are not final. If you see a desk that meets your
needs for $75, offer the owner ½ the price, and negotiate
from there (depending on condition of the item). Have in
your mind what you will/will not pay for an item, and stick
to it. Be willing to walk away if the owner is unwilling to
negotiate. Swing back by the sale toward the end of the
scheduled time, and if the item is still there, they will
likely be more willing to negotiate.
Ask questions. If
you are looking at a mower or another type of appliance,
find out what type of condition it is in. Also, check to see
how many kids went through a child’s car seat, as well as
how used the wheels are on the tires of the bike you want to
buy. Be wary of those who don’t have answers, and definitely
negotiate these items. If the owner is unwilling to
negotiate or cannot answer your questions, walk away.
Bring cash. Many
owners will not accept checks, so make sure you have cash on
hand.
Go early. Make
sure you get to your first sale 15-30 minutes before it is
scheduled to open. This will ensure you get the better items
at better prices. Try to get to the sale on the first day it
is open to ensure you have more of a selection from which to
choose.
Buy the refreshments!
Kids love to bake cookies and sell lemonade or pop to
weary garage sale buyers. Remember when you were a kid, and you
were thrilled that someone bought your lemonade? Return the
favor for the little ones you encounter who are trying to
start their “businesses”!
Whether you are going to
garage sales, or having one, you can find some great
treasures at inexpensive prices. Bring a friend along and
enjoy the day!
To
teach and learn money skills, personal finance, and money
management, please go to the Money
Instructor home page.
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