Having a yard sale may seem simple enough. Yet, there are issues such as timing, the price of items and the way in which these items are displayed that make a huge difference between being successful with the garage sale, and making nothing.
According to Statistic Brain Research Center, the total US weekly revenue from garage sales is $4,222,375.
Yes, over $4 million a week!…
The same data also tells us that Americans hold a whopping 165,000 garage sales a week, on average.
Needless to say, many of these garage sales are not profitable and become a total flop.
August 9th is National Garage Sale Day – National Garage Sale Day always falls on the second Saturday in August, so the actual dates vary every year.
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So in honor of this day, here are some tips and strategies to help you make more money with your next garage sale. These are the same strategies I have used in the past to pull in almost $1000 in a 2 day yard sale.
What will I learn?
1. Stop trying to sell junk
Be sure that what you are selling is worth selling.
In other words, do not sell junk!
Those who pass by your sale and see nothing but junk, items that are dirty or broken, then they are not going to be interested. Keep in mind that the majority of clothes do not sell, so keep your expectations for this at a minimum.
2. Start early
Be prepared to start early as most garage sales take place early in the morning.
You will need to be up early in order to drag out the items, and ensure they are priced and ready to go. There are going to be those who stop before the sale even begins in order to get the best deals.
Most often, these people are going to be your negotiators and hagglers.
You need to make a decision now as to whether you are going to sell to early birds while you are setting up or not.
3. Display your items correctly
The display is going to be the key to making sells.
When items in the garage sale are clean, then they sell better.
Take a damp rag and run this over the products to remove any dirt or debris in order to help these items shine.
Another aspect to keep in mind about the display is that you should consider putting items on benches or tables to avoid people having to get down onto the ground to see these.
In addition, clothes seem to sell better when they are hanging up.
4. Price things fairly
Keep the price of your items right. Items that are big, in good condition and clean can go for as much as half of what you originally paid.
If the item is worn or damaged, then the price should be reduced.
5. Make price labels easy to see
Be sure that you price the items directly onto the item. Most people are not going to ask you how much something is, they want to see the price listed on the items.
In the past, I have priced by category, stating one pile was $1, while another pile was $2.
The problem with this system is that you have to remember which pile each item is in, rely on the honesty of the buyer or keep a master list of everything that you are selling.
6. Be friendly but not too pushy
Be friendly with those who stop to shop, but do not be over friendly.
I like to greet each person that comes to the sale, and this opens up the communication about items or prices.
7. Don’t be afraid to negotiate
Those who go to garage sales sometimes do this simply because they like to negotiate a deal. You should not inflate your prices for the purpose of negotiating down to what you really want.
You need to realize that if you were to lower your price by a dollar or two, then you could make a sale.
I usually accept the offer that customers give me, since they usually know what their budget is for certain items.
Also consider cutting prices after a few hours and traffic to the sale have died down. I usually take 1/2 of what is listed after this time, as I would rather make a few dollars, rather than drag all the items to Goodwill.
8. Drop prices if you have to
If you have not had any interest in items within the first hour, drop your prices.
When you have the most traffic, cut the prices. Do not expect someone to try to negotiate with you, as sometimes these people never show up.
9. Let everyone know you are having a garage sale
Always publicize your sale. Put a post on Craigslist, or even list free items that you will have available on Freecycle.org (you have to sign up for a free membership to post), and be sure that you post about the hot items at your sale.
You can even list prices, which is sometimes a great incentive to get people to come out. The more detail you include, this will increase the turnout to the sale.
The night before you have a yard sale, be sure that you make quite a few signs to direct people to your house where this is taking place.
Write “Garage Sale” in bold letters with an arrow pointing to where to go, and you can also list the time for the event.
10. Give customers free gifts
Offer some things for free, as this is going to attract attention to your sale.
But hand out these freebies with a catch!
For example, offer buy-one-get-one deals or two-for-one deals.
Garage sales, yard sales, state sales, or whatever you want to call them, can be a great source of making some extra cash while at the same time getting rid of thing you don’t need/use anymore. By keeping the above 10 tips in mind, you can ensure a more successful yard sale.
Have you had success with garage sales before?
I would love to hear about your experience and any tips or strategies you may have when it comes to making more money with a garage sale.