Naturally, when seasons change, people often have a garage sale to get rid of their junk. This is a great opportunity to make some extra cash and there are a few tips that we have which will help you make more money while also having a great time. In fact, one of my friends in college used to have a sale on the great lawn of our campus with a lot of his cool gadgets and random swag that he piled up during the semester. Some of our friends would join in and we would turn in into a mini-party. Girls would come by just to hang out and next thing you know, we had 50 people around us and had a blast. On top of that, we would go home with a few hundred bucks each. Here are the key learnings that we picked up through our experiences.
Know When to Sell
Shoppers are always looking out for different type of memorabilia and expensive items that seem to be overpriced on eBay. Attract them by putting the expensive stuff like electronics and furniture closer to the street. You need to set up your yard like a department store and set up the front for those who want to go window shopping.
Attract the Big Spenders
Advertise your garage sale through social media such as craigslist and on poster’s around your block. Use strategic wording like mint condition, vintage, or collectible. Those terms will help you get a bigger attendance.
Package Some Deals
Some people will try to nickel and dime you for tiny trinkets. Fill up zip lock bags and create a little package for five bucks. Doing this will help you get rid of your little junk like CDs or DVDs and will really help you make money for your trash which in turn has become another man’s treasure. The same strategy is used by grocery stores when you see 10 for $10 packages versus one dollar per individual item.
Be Ready to Negotiate
Everybody approaches a garage sale ready to bargain and to barter with prices. Set your prices slightly higher to give them room to negotiate down, this way you still win and turn out a nice profit. Know your floors though, because this will also help you throughout the negotiating process.
You can make several pitchers of lemonade for well under a couple bucks. You can also plug in your iPod and play some tunes to make the garage sale a pleasant experience that will keep people around. Build a pleasant atmosphere and attract all the attention so you can make the biggest turnout and most importantly, the largest amount of cash.