WHAT TO CHARGE? Garage Sale Pricing Tips #1
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 Sale.
You can always go down on a price, but you can never go back up. If you don't have time to price everything individually, signs are helpful, such as "all books $1 each" or or "any piece of clothes $3.00", or "anything on this table $2". You also can offer the customers a deal, example: paperbacks $2 each or 6 for $10. When pricing items, keep in mind that "a third of what it costs new" is only a guideline. No one cares that you paid $100 for your advanced quantum physics book 10 years ago. You'll be lucky to sell it at all.
Try to look at your stuff objectively. Do you really think people will be knocking down your door to get at your old t-shirts with stains on them? That's why they make good rags. If you have a bunch of items that are missing pieces or broken, put it in your FREE box with a note "broken - good for parts" or something similar. Garage Sale Pricing Tips #2
Price it Higher if:
- It's the first day of your sale
- You are willing to move it back into your home
- It has real collectible value or is vintage, antiques should be sold elsewhere
- You know the eBay value
- It's the last day of your sale
- This is a moving sale
- It is something that doesn't sell well at garage sales, clothing, magazines for example
Garage Sale Pricing Tips #3
We can also learn some garage sale pricing tips from the big retailers. Be creative with pricing. Things like "buy one, get one free" can work for you, too. Don't be afraid to mark things down as the sale progresses. Or announce a 'blue light special' to the next person who buys a particular type of item. Don't hesitate to do something unusual. Informing your next customer that they're the 25th shopper and entitled to a 25% discount will get a conversation started and could lead to a sale. If nothing else, you'll have more fun.