Aug 14 2008
The Definitive Guide to Yard Sales for Profit - Part 3
WHERE: Location, Location, Location
Does your home have adequate space to lay out your yard sale? What about parking - can you see four to five cars comfortably parked? If not you may want to consider the possibility of having a community yard sale, or at least joining forces with a friend or loved one whose property may be a bit more accessible. Remember: if people can’t find you, you aren’t going to sell anything!
HOW: Pricing Items for a Yard Sale
This is where a lot of people start to lose their faith in the process because they don’t have any idea what price to ask for the items they are selling. The first thing I recommend you do if you fit into that category is to set aside a weekend morning to go and window shop the yard sales in your area. This will give you a better idea of what people are charging for similar items, but you need to avoid the temptation to add to your clutter! You’re doing research, after all.
HELPFUL TIP #1: If you price as you go, you will save yourself a lot of time when it comes to setting up the yard sale.
HELPFUL TIP #2: Instead of pricing items like clothing individually, arrange them on a table or hanging rack in sections with clearly marked signs stating what the prices are for the type of item. T-shirts, button down shirts, jeans, shorts, skirts, dresses, etc. You get the idea.
Another point I want to make about yard sale prices is a pet peeve of mine. The art of the yard sale is one that involves negotiation or haggling over price. If you are the type to want to set a firm price for every item in your sale you aren’t going to make much money. Encourage people to make an offer if they see something they like. Taking a price cut will mean that it doesn’t have to go back into your house when it doesn’t sell.
Very good point about negotiation: the point of the yard sale is to cut down on clutter at the same time as making some money, not to turn a huge profit. People sometimes forget that. I remember once seeing some comic books at a yard sale, and the guy wouldn’t go below cover price for them, but I could have gotten them for below cover price in a store. I’ll bet he had to put them back indoors at the end of the day!
Are there still a lot of yard sales? I’d imagine people would rather open an eBay storefront and not have to deal with the logistics that you’re described.