All Financial Education

5 Tips to Make the Most from Your Garage Sale

August 25, 2015

Garage full of items ready to be sold at garage sale.

Putting on a garage sale may seem like a pretty straightforward task. However, spending a little extra time and attention to a few details may make the difference between turning your unwanted clutter into fast cash or a fast flop.

Get the Word Out

Advertise early and everywhere! Place ads in Craigslist, local newspapers and all social networking sites you can think of. Most communities have Facebook Groups specifically catered for local garage sales. Create flyers and place these on bulletin boards in schools, offices and grocery stores. Make sure to start advertising at least one week ahead of time.

Start Early

Instead of starting on Saturday, start your sale on Friday. A lot of people have Fridays off or will stop by at lunch or on their way home from work. Serious garage salers will be eager to be the first to go through your things. You’ll also have less competition among other sales and you’ll have an extra day to sell.

Presentation is Key

Organize and display like items together. If possible, hang clothing from racks and clearly display prices. If you don’t have access to a rack, fold clothing neatly and display on a table. Put books into bookcases, toys and other miscellaneous items into bins with clear labeling. Wash everything so it is looks the best it can.

Properly Price Items

If you don’t properly price your items, you run the risk of making barely any money for your hard work or worse yet, ending up with a bunch of leftover stuff you’ll probably end up giving away for free.  Experts agree that a good rule of thumb is to price items 10 to 20 percent of what it would cost new. Make sure you add some wiggle room into your pricing so you can account for negotiations.

Create a Fun Atmosphere

Turn on the tunes, offer drinks and cookies. Get people comfortable and enjoying themselves. Creating a fun atmosphere will make your customer stick around longer, will get people talking about your sale and in turn, the more likely you’ll be to make a sale.