One of the most common questions sellers have when setting up a new garage sale is “How do I price everything?” Here are a few points to consider which may help answer this thorny question:
Considerwhat you paid for the item and its current condition. You can price most items at anywhere from 10 to 50% of its original value depending on the condition of the item. Also take into consideration what you yourself would be willing to pay for the item in its present condition and price accordingly.
Do some light research. There are many good pricing guides online to help give you an idea of what common items should be priced at. You can also look up more difficult to price items in online classifieds or Ebay, to get an idea of what other people are selling them for. (Ebay Tip – Search completed listings to find out what things are actually selling for and then deduct a bit if you want to sell it fast). Remember that you can never expect to get full market value at your garage sale. Garage sales are for quick purging of items, i.e. selling a lot fast. If you want to get the full used value of everything you will need to take the time to list each item individually online and do the extra work required. I will be including a more detailed price list in the blog in the near future as well. Keep in mind also that prices are always changing, sometimes going up and sometimes going down, don’t be afraid to trust your instincts.
Consider bundling similar items together in bins under one low price. This works particularly well with books, shoes, toys and other similar small items.
Price a touch on the high side and adjust prices as the day goes on. If something isn’t getting a lot of second glances, price it down a bit.
Be open to haggling. If sales are slow, let your customers know it. Saying things like, “We’re open to offers on everything, it’s all gotta go!” makes buyers more open to haggling instead of immediately rejecting items as too expensive. If people think your prices are too high, it’s pretty likely that you’ll hear about it early on. Be flexible and consider any reasonable offers. If you feel like you cannot get a fair price on a particular item through your garage sale you might want to consider removing it from the sale and selling it through an online auction or classified site instead.
Hopefully this short guide helped give you a better idea of how to price the clothes baby Brandon grew out of or Aunt Mildred’s antique chesterfield.
If you have any additional tips for pricing used items, please tell us about them in the comments below.