Price by table. For example: Everything at this table $1.
Price by color tag. Pin or place adhesive backed colored circles (available
at WalMart and office supply stores) on items. Then have several posters with
the price written in the color of the tag. Leave space by the price to write
a reduced price as the day wears on.
Start high, go lower every two hours. People understand this is a charity garage sale but also
want a bargain. They are usually willing to give just a little extra.
People's tolerance for spending money is higher at the beginning of a sale
when selection is good. You don't want to "give" away your best
items so start out with higher prices. At the end drop down to "give
away" prices so that you aren't faced with returning or storing items.
Another phenomenon is that some people are
garage sale professionals. They will "raid" your garage sale and
snag up your good stuff early so that they can have these at their own sales.
To discourage raiding of your best stuff keep the prices high early on.
Resist the hagglers early on. Early on hagglers take up your time and reduce your
profits. Tell them, "I'm sorry, our policy is that we don't negotiate
pricing until 10:00.
The only time you would consider otherwise is if it is an item you consider
to be highly unlikely to sell because it is unusual or damaged. Then tell the
buyer. "Usually we don't negotiate prices until 10:00 but on that item I'll make an exception because of
...." This will let them know you won't negotiate the price of every
item and it keeps other buyers that overhear from getting in on the act.
Tell an eavesdropping buyer, "I'm sorry,
we don't ordinarily negotiate pricing before 10:00. I made an exception in that case because I thought it
highly unlikely that we'd sell that item due to... (perhaps it was worn or
slightly damaged).
The main defense against hagglers is 1. Be
kind but firm. 2. Know what you're going to say ahead of time, have a
"policy". 3. Be willing to let them walk away. Often as not you'll
see them at checkout with their item.
Hagglers can be your friend late in the day . They scarf up things when you're
beginning to think "What am I going to do with all this stuff?". In
such cases think, "Counter-haggle". If they say will you take
25 cents for this say no, but I will take 50 cents for two of them or sure
I'll take 25 cents for that if you're total purchase is $2.00 or more.
More on haggling and pricing. Don't allow anyone to intimidate you.
Be firm, and don't reply in an uneasy or uncertain tone. If they ask you for
something for a quarter and it's clearly worth more than that, just say
nicely our price is firm on that item or I feel it is worth what we are
charging.
Once you've stated your
policy, or made a counter offer just smile and be quiet... wait for their
reply. Never act uncertain, or as though you're desperate to sell anything.
Time is on your side early on in the garage sale (before 10:00). You may begin to feel desperate to
get rid of stuff around
11:00. But hold off slashing things until 11:30 or 12:00.
The key is if you are still
pulling in traffic, keep your prices up.
Clothing Pricing: Fill a bag for $2.00, Later drop to
$1.00. Or do the everything on this table $1.00
Box lots. This box for $5.00. Maybe a box of kitchen utensils, whips,
cookie cutters.
Grab bags of small toys. This bag $1.00 or
50cents. Have a generous amount of small items in it.
For almost new or high
dollar items. It is sometimes beneficial to have
current ads of items and what they cost new. This can serve as a comparison
to how good your deal is for the buyer. If you don't have an ad, a simple
index card stating retail value at a local store is a good addition. A great
place to do this kind of comparison is to check prices with internet
retailers. Simply print out the page with the item's price.
Rule of thumb for nicer
items and electronics:
pricing for excellent condition items 1/3 (33%) to 1/4 (25%) of price new.
Very Good but not new looking 1/5 (20%).
Furniture in good condition: 30 to 50% of new. The price will look
out of place at a garage sale, but don't worry it will sell. A dining room
table and chairs easily goes for $600 to $1200 so don't apologize for charging
$300 or $400 even if the upholstery is a bit tattered. If you can't sell it
at the sale consider selling it through a Nickel Ad.
Little Tikes Items: 60% of new if it is nice. 40% if it is
worn a bit. Seek these items out! and put it in your ad if you have more than
a couple of these! They sell like hotcakes.
Rule of Thumb: If most of your
good items are sold and it's only
9:30 or
10:00 your prices are
TOO
LOW!
Left over items can also be given away to the
local Salvation Army or Goodwill