How do I price garage sale items?
By Mary from Huntington Beach, CA
The same way you do yard sale items. Is there anything in particular you are having a hard time deciding a price on?
The best advise I can give you on pricing something for resale is:
1 - never consider how much you paid for something in determining the price,
2 - think about how much you would be willing to pay for something if you were seeing it at a yard sale,
3 - understand that baby things sell well, tools sell well, and sometimes furniture sells well,
4 - understand that Books, CDs and movies only sell well when they are dirt cheap,
5 - kids toys, if they are in good shape, sell cheap or not at all,
6 - it is seldom that you get the price a collectable is worth at a yard/garage sale.
For example: I had a yard sale with about 300 music CDs I was selling for $1 each or 7 fr $5. I sold maybe 10. I went to Amazon and listed about 274 that turned out to be worth something and I have sold 125 so far and have made over $800 (about $6 a CD).
On Ebay the classic 1978 Simon game has been going for an average of $30 in good condition, some with and some with out a box. You would probably find one at a yard sale for $5.
Point is, for items you think are worth something but not sure? Your best bet is to try to find similar items on Amazon or Ebay and figure out a price from there. Then consider if you want to sell them on-line or on the lawn. Don't try to price everything off those two sites just what you think might be really worth something. There is too much work in a garage/yard sale with out doubling it with inventory and on-line time.
You got some great advice Suntydt. I would like to add that at least around here. If an item is new or next to new you can price up to 25% of the new price. Good luck with your sale!
Generally, 1/4 of retail unless in like new condition, then closer to 50%. Also, keep in mind that people like to get a bargain, so price up slightly to give them a little off if they ask.
Do it this way, the little stuff that you would not make anything on Ebay, sell at a sale. Current magazines (.50) and used hair products and etc around your house. Before you throw something away think "I could get a dime or a quarter for it"....may not seem like much but every penny counts!
Bigger and better things you can sell on Ebay. I once bought a full size wood bed for my son at a local auction for $25 and it has been stored in my garage for years. I recently took it out to look it over for a yard sale and noticed the stamp on the back of it. It is walnut and a Heywood Wakefield! Look at things closely and check on Ebay and the net. You never know what you may have in your possession! Good luck!
I love having yard sales and garage sales. In the past two years I've held four sales, and I'm planning the fifth right now. When pricing I try to ask myself logical questions and "be the buyer."
First- Main purpose of sale. Is the main objective to unload excessive items...plus make some cash? Or... Am I in need of cash, so I'm finding items to unload? In the case of needing money, it can make me think my "stuff" is more valuable than it is. When I'm simply trying to declutter, I tend to want to *give* it away. But, I could do that at Goodwill. The only true failed sale I've held was an "I need money sale." It wasn't the best selection and I probably wasn't in the best mood. Some of the items were priced too high.
As I am gathering and organizing I consider things such as:
How old is it? Is it new or like new, or showing wear? Is it broken or flawed in any way? Is any of the following: In season, useful, common? Is it in high demand? Still sold in stores? etc...
If I saw the item at a sale, how much would I expect to pay? I also consider demand plus cost/savings ratio. Newer sofa in excellent condition would (hopefully) bring a higher percentage of original cost than a new pair of jeans. $600-700 sofa *may* get $250-300. $50 jeans $5-8.
Good luck with your sale! I'm having mine Friday and/or Saturday. I've found some great ideas online and hoping to post them here later today or tomorrow and welcome any feedback.
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As a general rule of thumb, price items at your garage sale about a third of what they would cost new. There are exceptions though. Clothes are generally very poor sellers, unless it's baby/kids clothes. But if you price adult-sized clothes cheap enough, it will sell regardless. People are reluctant to pay a lot of money for clothes they can't try on, but will gamble if it's only $2 or so. I recommend taking some of your "nicer" clothes to second-hand stores, rather than trying to sell them at a garage sSale.
About The Author: This tip was referenced with permission from www.egaragesales.com.au - Garage Sale Australia Online.
Why not provide a dressing area? We have a garage sale each year, and we set up a couple of screens with a rug on the floor and a mirror. It works great, and people will pay fair prices for good clothes that fit. (05/13/2009)