Make the Most of Your Garage Sale
by Cindy Skrzynecki
With the right approach, having a garage sale can be a refreshing experience as well as a smart financial move. But many of us aren't quite sure how to tackle the project or do it in a way that's both efficient and effective. Here are some tips from an expert to help you make the most of the experience.
Give yourself time
Give yourself plenty of lead time to gather merchandise for your garage sale. Start weeks, even months, beforehand and sort through all your closets, drawers and boxes. Do you really need every utensil in your kitchen or all the Christmas decorations in your attic? Include your basement, attic and garage in the search and have as complete a sale as you can. Offering both volume and variety of merchandise will attract shoppers as well as bring in the most income.
Sell large-ticket items through alternative means
Get the most for your large-ticket items by not selling them at your garage sale, where shoppers expect to pay rock-bottom prices. Instead, before your sale, advertise items worth $20 or more through other free or low-cost outlets, such as neighborhood newspapers, employee newsletters, student publications or church bulletin boards. Take your better clothing to a consignment shop, and explore options available through re-sale stores for books, appliances, sporting goods or baby items.
Take a retailer's approach to pricing and display
Price your merchandise so that customers will feel like they're getting a bargain 10 to 20 percent of retail value, more for items that are like-new. Visit other people's sales to get ideas for yours, and have a mirror available if you plan to sell clothing. Overall, be sure to mark prices clearly, display merchandise between knee level and eye level, and rearrange your display as items are sold just as retailers do.
Also In This Week's Issue
- Documents you need when disaster strikes
- Where are all the fixed-rate credit cards?
- 5 scary paths that lead to damaging debt
- 6 steps to a successful money talk with your mate
- 5 steps to boost your savings account
- 8 signs you're flirting with financial ruin
In The Dollar Stretcher Community
Get free money-saving articles in your inbox each week!
Sign up for our free weekly newsletter Surviving Tough Times.