You pay attention to your credit score, you’ve set up a budget, and you shop around for the best deals from home loans to groceries. Still, who can’t use a little extra cash now and then? If you’re thinking about having a garage sale, make the most of your hard work. You’ll enjoy that extra money in your pocket!
Advertise. Craigslist is a good way to get the word out, as are offline community bulletin boards. Buy a classified ad in the local newspaper. If possible, advertise your sale together with others in your neighborhood. A “community yard sale” will draw more buyers, and you and your neighbors can split any advertising cost.
Set hours. Schedule an early Saturday morning in the summer, when buyers make the garage sale circuit in droves. Choose a non-holiday weekend so more people will be in town cruising sales. Caution: if you advertise a starting time of 8 a.m., shoppers arrive at 7. Announce a too-early start, and you’ll end up with “early bird” browsers at dawn! Shoppers dwindle, however, once the noonday sun beats down. And an early morning sale saves you from baking in the day’s worst heat.
Display your wares. Arrange your goods on tables. Remember, if shoppers can’t see it, they can’t buy it. Organize by category – toys here, CDs and VCR tapes there – or experiment with random placement that makes shoppers check every table and box for goodies.
Decide how to price. Pricing’s a pain, but so is dickering over every little juice glass or old necktie. Consider putting sticker prices only on more expensive items and setting a low flat price on everything else. If you’re not sure about pricing, cruise some sales to get a sense of the market.
Be a savvy negotiator. Expect haggling. It’s part of garage-sale culture. If a buyer starts to haggle, respond by asking, “What would you be willing to pay?” You can reject a lowball offer, and you might get a higher price than you expected.
Help your shoppers buy. Keep a tape measure handy along with a working extension cord for testing appliances and electronics. Have lots of small bills and change on hand together with recycled bags for your customers to carry away their treasures.
Have realistic expectations. You won’t make a fortune at your garage sale, but you might end up with more cash than you expected. Even if you make just a fistful of dollars, you’ll have cleared space in your home. Your unwanted stuff will be gone. And you’ll have learned what works and what doesn’t for the next sale.
Remember charity. Haul your usable leftovers to Goodwill or another nonprofit thrift shop. Get a receipt for your in-kind donation to benefit you at tax time. To calculate the value of your donation, you’ll need to make a list of what you hauled away – or snap some pictures for later reference!
Haggling in the driveway will put a little cash in your pocket. For more ideas on how to improve your financial health, check out Quizzle.com, where you’ll learn how to achieve your credit potential and get home loan recommendations tailored to your unique situation.
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This is really good advice. I have hosted several yard sales & the advice given is so true. I love negotiating with people, and everyone is looking for a bargain. I just wanted to clear up some clutter, so I enjoyed making the extra cash. It’s also fun for my son & I to earn some money together. He can’t wait for the next sale…
Those are some good pieces of advice. I know I wouldn’t want to dip my hand into boxes of junk.