Garage Sale Pricing: How to Make Money Without Scaring Away Customers
So, you’ve come to terms with the fact that you no longer need 20 different shirts that you haven’t worn in 10 years. Or you’re finally ready to part with the sports equipment your child has forgotten about.
You’re ready for a garage sale. But are you wondering how to execute garage sale pricing so that you still make money without scaring away customers? Keep reading for helpful tips on how to price garage sale items.
Organize Your Garage
In order to make a great impression on customers, you’ll want to give a great presentation. Try to avoid having lots of clutter on display around the items that you sell.
Follow a step by step guide to successfully clean out your garage. Not only will it make a great impression on your customers, but you will feel great about it too!
Create a pleasant visual display with tables and clothing racks. Borrow from neighbors or rent from schools and event centers if you don’t have enough tables.
Compare Garage Sale Pricing Locally
You don’t want to end up pricing your items way higher or lower than what is normal in your area. On one hand, if your prices are too high, customers won’t feel inclined to buy. If they’re too low, you may sell plenty, but you won’t earn as much as you could.
A great garage sale tip is to look up some ads and take a weekend to visit plenty of local garage sales. The majority of common items such as clothing, books, and toys have a similar price point.
Visiting local thrift stores can also give a good insight into resale prices in your area.
A good pricing rule to follow is the 10 percent rule. Price your items around 10 percent of their new, retail value. If you perceive certain items to be in great condition, you can price them up to 25 percent of their value.
This may seem like a small price at first. But in the world of garage sales, it’s quantity over quality. You’ll be making the most money through the number of items you sell.
Label Pricing Clearly
The number one mistake that occurs at garage sales is not pricing the items. This results in you looking unorganized. Customers may also offer less than you originally wanted or feel like you’re sizing them up if you hesitate to provide a price.
Price each item individually. If you have items like books or CDs that are all priced the same, put them in a box with a label. End all your prices in 5s or 10s so that it’s easier for you and customers to handle change.
Create price labels from neon stickers or masking tape. Pricing each item individually may seem like a lot of work, but it will save you a lot of hassle in the long run.
Remember that to make money, you want to sell as many items as possible. Especially if you plan on donating anything left over. Don’t be afraid to lower your price for a negotiating customer.
If you’re worried about haggling occurring on certain items, write “firm” on any price tag that you won’t budge on.
It’s better to get a lower price on something than to not sell it at all.
Sell and Have Fun
Now you know garage sale pricing tips to help you have a successful garage sale. Plan your sale during an optimal time so that you get as much traffic as possible.
Have fun interacting with the new people you meet and enjoy your decluttered space!