If you type “Garage Sale” on Google, you’ll get more than a thousand pings on how to set up the most successful garage sale, what makes a garage sale successful, and a bunch more on how to HOLD A SUCCESSFUL GARAGE SALE. But what if you are a buyer or “flipper”, as modern-day slang would like to call it?
These days the emergence of flippers are becoming a whole new trend. Buy low, sell high, sounds fun to me. Although “Flippers”, have been around since the age of man. Find something that has value more than what you can buy it for. Then buy it, and “flip” it to someone else for more money.
If you want to venture out to this gig or have been doing it for quite a while now, knowing what to buy can make a huge impact on how much profit you will get. It’s important to know what types of items you are most usually interested in when buying and then weighing down if the items are too taste-specific or somehow universal. Although taste-specific items (think: a first edition Harry Potter book) might resell at a high price, it is the universal items that gets resold easily even if you put a huge markup.
Here are some items to consider for your next garage sale rummage:
Kitchen Items – There are a lot of people that love to cook and cooking is something that most of us do. And most of us do buy tons of this stuff and just leaving them off to gather dust in the shelves. Yard sales often sell these items at a fraction of the original costs just to get rid of them. From baking dishes, cutlery sets and crockery to specialty items like smoothie makers, ice cream makers, and other small appliances, you can often find great kitchen items that you could sell with a $100-$300 markup, or even more.
Jewelry – Although garage sale hopping every day won’t ensure you’ll stumble upon a Cartier, it doesn’t mean you won’t find some good or even above average ones. The key is to look at the craftsmanship. A sturdy pronged set over a glittery but glued only one for example.
Electronics – If you know how to check these things properly, you can make a good profit out of them. Check your local Craigslist first as prices for electronics and gadgets, even for pre-used ones, vary from region to region. And remember: if a seller says it still works as good as a brand new item, it probably does– not.
Sports Equipment / Memorabilia – Sports enthusiasts or memorabilia collectors would cough up cold cash for anything. From slightly used lifting weights, unused yoga mat, to antique sleds, early snowboards, authentic first version jerseys/uniforms of famous teams, etc. Just make sure you cross reference prices online so you know if you can really get more than what you’ll pay for.
Furniture – Although these type of items would cost way more than the ones mentioned above, you can expect the return of investment to also be higher. But of course, you would have to count in the expenses to get the item home (if you have a car then lucky you). Usually, prices for these items go even lower towards the afternoon or the end of the sale as owners are really keen to get rid of these stuff. If you know that you have a keen eye for great design then you’ll make a lot of profit flipping furniture.
Who says only selling can load you up with extra cash? Even buyers like you can make the most out of garage selling if you just know where to look and what to look for.
What are you waiting for? Get that flipping vibe rolling.