Clothes hanging on a rack

How to Price Garage Sale Items the Right Way

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There are a few things that make us happier than earning cash from unwanted items that lie around the house. Instead of turning these items over to the recyclers or putting them in the trash can, you can sell them for a profit. While they are garbage to you, they might still be useful to a lot of people. Why do you think people drive around every weekend, looking for the best garage sales in town?

You can even sell your old truck for some cash if you aren’t using it anymore. Instead of watching it rot away in your garage, you can just put a “for sale” sign on it. Even an old truck is still worth hundreds of dollars, so why will you waste that opportunity?

If you are planning a garage sale, consider the following suggestions on how to price your unwanted items:

Follow the One-third Rule

This rule doesn’t work for all items, especially for old cars and trucks, but it’s a general rule that can govern how you price the items for sale. If you bought a microwave oven for $150, you could sell it for one-third of its original price, which is $50. Although these items are old and used, you should want to be compensated for them. Don’t price them too low to get rid of them.

Go Around the Neighborhood

If you aren’t sure how much you should sell the items for, why don’t you go around the neighborhood and check out other garage sales? You will notice from their pricing how much they expect the buyers to pay for the items. Pricing garage sale items depends on the neighborhood. If you live in the affluent part of the town, you can sell your items a little higher. People will still want to buy those used branded handbags.

Garage sale items

Consider Lot Pricing

If you have a lot of one item such as CDs, books, toys, and kids’ clothes, consider lot pricing to sell them. For example, you can sell the books for $1 each, regardless of the title or the author or whether it’s a paperback or hardbound. You can sell the CDs for $5 for seven. Your kids’ toys can go in batches for $4 per pack. Buyers would love the idea of getting more for their money, and this is the best way to get rid of inventory fast.

Price the Items Competitively

Some sellers price the items a lot higher because they are preparing for buyers who want to haggle. But remember that not all buyers love the idea of negotiating with the seller. The moment they see that you have priced all your items too high, they will just walk away from your garage sale. At the same time, pricing it too low won’t give you leeway for haggling and negotiating. As a result, it will look greedy because you can’t drop a dollar.

Prepare to Lower Prices

Most garage sales thrive in the morning, when most people go around the neighborhood to find great garage and community sales. By lunchtime to mid-afternoon, there will be fewer people walking around to check out your items. This is the time of day when you should seriously consider lowering the prices of the items for sale. Instead of getting nothing, you should consider accepting a lower offer.

Garage sales shouldn’t be a stressful activity for you. There are good days and bad days in a garage sale. Sometimes, you get the money you’re expecting. Some days, there won’t even be $10 worth of a sale. But look at the bright side: At the very least, you have managed to clear out some space in your home.

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