The worst part about having a garage sale is knowing how to price things. I mean, yes, you want to sell them, but you also want to get some cold hard cash and make the whole affair worth it. I always err on the side of practically giving things away—mostly because I look at as peeps saving me a trip to the local thrift store, but also because I know people love a bargain.
As a general rule, you can price items at about 10%-25% of their current retail value. I know that seems low—and it is, but let’s face it, garage sales are the last true place to score a bargain.
On bigger items, give yourself a little wiggle room—like a price tag buffer. That way, people can haggle {the funnest part about garage sales}, and you can still get your rock bottom price. So, that rocking chair you want to get $20 for—price it at $25 or $30 with the full intention to come down. You get your desired price, people get their “deal.” Keep in mind, though, that this only works if your rock bottom price is fair in the first place.
Remember sentimental value is different than monetary value. No one cares if your great-great grandmother brought the figurines you’re selling over from Spain, if they are ugly figurines. You might have a story behind them that makes you think they are worth more—but to shoppers, they hold no memories. Sad, but true. So, bottom line: don’t price things based on the memories they hold. They’ll be a tough sell.
PUT A PRICE TAG ON EVERY ITEM. There is nothing more annoying than waiting in line just to ask the owner how much something is. Price each item individually. It’s extra work, but it allows you to think about pricing ahead of time, AND is a courtesy to your shoppers.
For items that have lost popularity, like CD’s, DVD’s, or *gasp* VHS, consider pricing in bulk deals to really encourage a major off-loading. For example 10 CD’s for $5 {assuming they are worth that}. If you have VHS tapes AND a VCR—consider selling them as a package deal.
The final tip I personally have is to slash prices right on the price tag. Do this while traffic is still heavy. Cross out the first number and write a lower number {still not your rock bottom number—that’s for later in the game} on the price tag. People will feel like they are getting a reduced reduced price {yes, that was a double reduction :)}.
Have you tried any of these tips? If not, how do you price your items at garage sales?
~Mavis
Sue R. says
I want to come to your garage sale–you know how it’s done! I “hate” when things aren’t priced!!
Brianna says
I hate when people price too high. $10 for a pair of used boys jeans? I don’t care what brand they are. It deters me from looking at other items they are selling because they are all probably priced high. My favorite are yard sales from little old ladies, they price a lot in the quarter and nickel range. I got a full size bed frame for a $1.00 at one of those sales. I also bought a bunch more stuff priced so low.
Teckla says
Group like things together as much as possible, attractively, so they can be seen, not just heaped in a pile!
Make sure things are clean.
Have an electrical plug available so people can try things themselves.
Hang clothing, so it’s seen attractively, not all wadded up with baby stuff or mixed up with men’s, etc.
Have at least one “free” box for just stuff.
Have plenty of change to start with (and keep it safely secured. Preferable on your body). And a calculator, paper and pen/pencil.
Have lots of plastic or paper bags and newspaper handy for wrapping/carrying people’s treasure!
SMILE, say HI! I’m glad to see you! If you have any questions, let me know, then let people get on with shopping.
If you have multiple participants in the sale, use different color tags for each person. Record in a notebook for fair distribution of funds.
Mavis, you have great suggestions and I sure wish I was near enough to attend your sale! Ah, well, I guess I’ll continue to live frugally and stay home here in the mid Willamette Valley. Best wishes!
Trish says
I try to have most things at my yard sales for $1 and under. We have a box of free stuff too. Like you said, I want it gone but I want some cash for it, too. People have told me I under price stuff. Great! So buy it and resell it (grin). Obviously, if it’s worth a lot more, we’ll sell it for more but still WAY under value. And we agree beforehand that everything that doesn’t sell does NOT come back into the house.