Try Increasing Failure
Garage Sale Riches: How to Sell Everything with the “Liquidation Trifecta”
Over the years my wife and I have held several garage sales; some successful and some not so successful. Here is a shot list of what we have learned over the years that I know will help you this spring and summer.
You first need to determine what your desired outcome is.
Is it to make money?
Is it to get rid of unwanted stuff?
Is it to have something to do on a beautiful Friday and Saturday?
If you are going to go through all the work and time, at the very least make it worth your while. I know of many people who don’t make minimum wage from the time they put into a garage sale. Remember, the stuff you don’s sell you’ll have to deal with. Make it a point to be like Discount Charlie and liquidate everything. Wouldn’t that be cool?
Well, here is how.
- Price it right. Don’t think about what you paid for it when it was new, think about every item as a garage sale goer would. They are there for a deal; make them happy. The more you are willing to deal, the more stuff you will sell.
- Think volume. Would you rather get a high price on a few things or SELL OUT? Our second garage sale was a week before we needed to move from Arizona to Wisconsin and we were selling half of everything we had accumulated in our lives. We had an EVERYTHING MUST GO attitude! We sold a 1-year-old $1,200 couch for $800, 10-year-old bedroom set for $200, home décor, tableware, bedding clothes, etc. By the end of our two-day garage sale we had one milk crate full of stuff! We made over $1,000 and we were very pleased.
- Use the “Liquidation Trifecta.” A garage sale is a convenient way to sell a lot of stuff on a weekend; however it isn’t the best venue to sell everything you have to offer. Here is what I call the “Liquidation Trifecta”
- Garage Sale the stuff that will not bring a high dollar amount or is too heavy to ship anywhere. This would be any used home items that will go for $20 or less or for furniture that you would not ship. Garage sale goers are not usually ready to drop $60-$400 on a high-ticket item, they are looking for little deals.
- Craigslist valuable things that have enough broad appeal and appreciation locally. Are you also selling a motorcycle, snow-thrower, lawn mower, dining room set, trailer or other medium to high ticket item? The chances of the average garage sale goer buying a high-ticket item at a garage sale for what you are asking is slim. Get more traffic to your garage sale by posting free craigslist.org ads for each high-ticket item ($50 and up) in their specific categories. Use photos and a brief description with directions and contact information. Let them know that it will be viewable between the hours of your garage sale or by appointment only. This will bring more people to your garage sale specifically for what you advertized. Don’t make the mistake of only creating one ad with a big list in the “garage sale” section (do that too). For large ticket items, get specific and get in front of people who are searching for the thing you are selling.
- eBay niche medium to high-ticket items that are shippable. If you have antique lab equipment that you paid hundreds of dollars for, a baseball autographed by Pete Rose or a Vintage Les Paul guitar, a few garage sale goers may appreciate these treasures, but not understand the value of the items like a collector does. You will get the most money for your unique treasures by advertising nation-wide and ship directly to collectors.
- Bundle. Be willing to give away or bundle items to people who show interest in one or more items like clothes, tableware or items in like or sister categories. If they like the boy’s pants for a dollar each, throw in the shirts for $.50 a piece too. What are you going to do with the shirts after you close shop? You’re just going to have to store them or give them away to charity. Give somebody a deal they can’t refuse, brighten their day and save yourself the hassle of moving it later.
- Bargain up front. Don’t wait until the last hour of the last day of the sale to have the “everything must go” attitude. Deal from the moment that early visitor shows up before you put the tables out opening morning.
