When you’ve got excess stuff and need to get rid of it, or you just want to make a little extra pocket cash, have a garage sale. After setting up your things, you might realize you aren’t entirely sure how to price things.
Pricing too high turns potential buyers away, but pricing too low means you don’t get the full worth. A pricing guide helps you to know the ballpark figure you should be charging.
Things haven’t been used or opened are worth more than used items. Pricing a $50 kitchen set at $35 gives customers a discount the same as a store.
Some people choose to discount new or unused items by 50 percent. If no one wants to buy your newer items at a 30 percent discount, try lowering the price until someone buys or you reach the limit of what you’re willing to take.
Prices for used items depend on the condition. Things that are more gently used may be priced at 50-60 percent of what you paid.
If you bought a handbag for $40, sell it for around $20 if you barely used it. If the bag was used extensively, $10 would be more appropriate.
Worn-out items usually feature a price that’s 10-25 percent of the price paid when new. Sometimes, this can just be a guess based on condition.
If an item cost $50 new but isn’t in the greatest shape, try not to ask for more than $15 for it.
Set up your garage sale by categorizing your items. Group together things that you’ve priced for $1.
Arrange tables according to ascending price so buyers know the more expensive the items are in back. Crate “departments” or tables dedicated to one particular price.
Visit other garage sales to get a feel for the average pricing on some things. Make sure the pricing on your items can be easily seen by your customers and that everything is priced so that you don’t get people constantly asking for a price.
While price stickers are convenient, they may be too small. Making your own price tags means you can make the prices as large as possible, especially for larger items like dressers or tables.