Price Everything
·
Pricing everything
leads to more reasonable negotiating and bargaining.
·
Some customers might not bother to ask the price
and pass items by if they don’t see one.
Shoppers are often reluctant or scared off when prices are not stated,
costing you a sale.
·
Utilizing pricing labels forces you to make
pricing decisions before your customers arrive.
It is less confusing and you won’t feel rushed or pressured on the day
of the sale.
Labeling
Hints
·
Be consistent in where you place labels. This makes it easier for shoppers. Example:
With clothing, place your price label on the clothing’s size tag.
·
For large items, make a small sign and put it on
or near the item. Include pertinent
information on the sign if applicable…its age, material it’s made from,
features, etc.
·
Small miscellaneous items can be grouped
together and put in their own box or on their own shelf. One sign can be used for these items. Example:
“All items in this box 10¢.”
Pricing
There is no
magic formula for determining an item’s price.
Of course you want to sell an item for as much as it will bring, but
just remember your customers want to purchase your item for as little as they
can. Most shoppers will not haggle or
try to negotiate on low priced items. Be
aware, however, that haggling is an inherent ritual of garage sale
shopping. Always keep in mind that one
reason for having your sale is to rid yourself of unwanted items and then price
accordingly.
A good rule
of thumb is to price an item for about 20% of its original price. Add 5% to 10% for items in great condition or
in high demand such as children’s clothing, maternity apparel, tools, toys, and
jewelry. Deduct 5% to 10% for items in
poor condition or with little demand such as adult clothing, bedding, books,
etc.
Antiques
and collectibles are the exception. It
would be wise to have your antiques or collectibles examined by an
appraiser. You can also check the
internet, library, or bookstore for one of the many guides on antiques and
collectibles and their values.
Displaying
Merchandise
As you
gather your merchandise, start thinking about how you are going to organize
your sale in an attractive and orderly manner.
You will probably need tables, benches, boxes, blankets, clothes racks,
etc. Think about the kinds of
merchandise you will be offering and the best way to display them.
·
Use
boxes…for books, records, tapes, etc.
·
Use
tables…for displaying items. If you
don’t have enough tables, and old door, plywood, or large boards on some
sawhorses or buckets will work.
·
Use
blankets…spread on the lawn. This is
a good way to display children’s toys and games. Toys are a good motivator for getting people
out of their car and into your garage.
·
Use
racks…for clothing. Racks can also
be made by running a rope through the center of a pipe and hanging the rope
from rafters in your garage or between two trees or step ladders.
Move larger
items out front towards the street…line your driveway. Shoppers need to be able to see items from
their car. Make it worth their while to
stop.
Start
With a Plan:
·
It is important, when planning, to think about
your family. It always helps if family
members understand what you are doing and why.
If they understand what’s going on, they are more apt to get involved.
·
Kids are more likely to help out by going
through their toy chest or closet if they get part of the profits from selling
their old toys.
·
Check everywhere
for possible sale items…from the basement to the attic, and everywhere in
between. to through every room and
closet. And don’t forget the garage, the
shed, and the car trunk. Even worn and
broken items will sell when priced right.
·
As you start gathering items, clean and repair
them. (Items that look nice will sell
for a higher price.)
Markdowns
You should
know quickly if your prices are fair. If
you’re not selling much or customers are negotiating prices way down, you’ve
probably priced your goods too high. To
remedy the situation, make a large sign saying “25% OFF.” No need to re-price your individual
items. Be sure to have a calculator
handy.
To ensure
you sell as much as possible, thus avoiding having to haul your items back into
the house after the sale, it is worthwhile to consider gradual price discounts
as the day(s) goes by. Example: On the second day of a 2-day
sale, take 50% off all items (exceptions allowed if clearly marked). You could even place some very-hard-to-sell
items in a box and label it “FREE.”
Day of Sale
Remember no
matter what time you say you’ll start your sale, someone will be there
early. Consider these points…
·
You will need change. As a general rule of thumb, $50 usually is a
sufficient amount for cash on hand. $2
in nickels, $3 in dimes, $10 in quarters, $35 in bills.
·
An extension cord should be available to test
electrical items.
·
Put up signs if you did not do so the night
before.
·
Plan lunch for you and your co-workers.
·
Never leave money in plain view and don’t keep
too much on hand. Take it inside the
house and hide it in a safe place.
·
Cash is best, but if you decide to accept
checks, ask for a driver’s license.
·
Guard your merchandise. Keep a watchful eye on jewelry, watches, and
cameras. Treat them like cash, so they
don’t just walk off.
·
Guard your house. Remember you are having a garage sale, not an
open house. You should not allow anyone
to enter your house to use the restroom or to make a phone call. Suggest a nearby gas station.
·
Have fun.
Enjoy yourself and your customers.