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These days, you can sell your pre-loved stuff on Facebook marketplace or eBay, but sometimes the best way to clear out your overflowing closets and basement is with a good old fashioned yard sale. But to actually get rid of all the things you don’t need and make a little money in the process you’ll need to keep a few things in mind.
These tips can help set you up for success by pricing things right so you sell more.
Consider your goal - If you want to get rid of as much as possible before moving or to make space for new furniture, keep your prices dirt cheap. But if you’re trying to make money, you still have to keep prices low enough for people to want to buy it. Check local thrift stores or other yard sales to get an idea of how to price your stuff.
Keep prices simple - Pricing items in increments of 5, like $.05, $.10, and $.025 will save you from having to deal with pennies when you collect payments.
Try the 10% rule - It’s a simple pricing guide that has you charge 10% of the item’s original cost. So, if you paid $20 for a lamp at Target, price it at $2. If something is handmade or from a luxury brand and you know you could get more for it, raise the price to 20% of the original cost.
Quantity over quality - At a garage sale, you want to sell as much as you can as fast as you can. It’s not the time to defend an item’s high quality, but if you have one that you know is worth more, it may be better to try to sell it online.
Check for tags - If you have clothing, furniture or other things that have never been worn or used and still have the original price tag on them, leave it! That makes the item seem more authentic and new, so you could try pricing it at 30 to 40% of the original price.
Have a stack of cash on hand - People may want to pay with Venmo, PayPal or Apple Pay, but cash is still king at garage sales. Having the online payment options can be helpful, but you’ll want to have plenty of $1s and small bills and coins around so you can make change.
Offer deals on bundles - Encourage people to buy more by giving them a deal on a pile of things.
Be prepared for haggling - There will always be hagglers to push you to give them a bargain. You can try setting prices higher to start with to give you some wiggle room when someone tries to negotiate a deal.