I recently went to some garage sales in my community and noticed some stark contrasts among them. It was not necessarily the presentation or the setup or even how the sale was along the sidewalk rather than in the garage. While I may not know much about hosting a garage sale (last year's attempt was a flop), I do know what I like to see when I attend one. Here are a few points to consider when you have a garage sale.
Be friendly and greet your potential buyers.
When the host or hosts do not even acknowledge me, I start to wonder what kind of situation I have stepped into. Sometimes the people involved in the sale are busy chatting with each other rather than saying "hello" to the person who decided to stop and take a look at the goods. For example, I stopped by a garage sale when I saw a sign by the road. When I stopped, I was mildly concerned about the dog at the end of the driveway as I am not a fan of barking and jumping on people, but hoped the owner would take charge of his pet. While I was grateful he did, the other two people standing at the end of the driveway did not even look at me, make eye contact or otherwise acknowledge my existence. Why would I want to spend money at the sale if the "hosts" are too busy taking a smoking break to say "hello" to me? I felt disrespected and annoyed, and did not end up buying anything from the meager offering.
Have the prices clearly marked, whether on each item or for a group of items (e.g., on a table).
Unfortunately, several garage sales I recently attended violated this rule. I find it frustrating to decide I like an item but then find no tag on it to tell me if I even want to buy it. Is the puzzle map 50 cents or $5? If it is $5, will the seller accept $2? It is hard to decide to buy or bargain on an item if there is no point from which to start. The nature of the host can also influence this aspect. If I did not receive a greeting and do not feel encouraged to talk to the host, I will walk away rather than ask about the price on an item.
Ask a friend or neighbor to help with the garage sale.
I found some rag rugs at a garage sale and was interested in buying them. While I did not need the rugs, I thought I might like to put them on the floor in the basement as a prelude to rendering it more useful than as a refinishing station. However, there were no prices on the rugs nor a sign listing "2 for $5" or something similar. While I did not hold the host's nongreeting against him (he was busy), I did get irritated when he said he would be right back before I had a chance to ask about the rugs. However, I decided I would wait for his return and decide whether I wanted the rugs or not. The host was showing some other customers the stepping stones he was selling, but the stones were in the backyard. Since he was the only one hosting the garage sale, there was no one else to ask question of or help out other customers. When the host did not return after a couple minutes, I decided my time was worth more than waiting around for this man to return and then find out I did not want to buy the rugs at his asking price. Therefore, I left, angry and disappointed. A second person could have taken care of me and the two other people who were interested in buying items, the other two with items to buy in hand.
Label items clearly.
I know it is difficult to price the item, organize the garage space and make each item accessible to potential buyers. However, if there is a label missing inside a garment, please add the size to the price tag or on a separate sticker. I find it annoying to find clothing that looks like it might be in my size but then the tag with the relevant information is cut out of the garment. While the person may not like the tag irritation, having a size, even estimated, would be useful for me to decide if I wanted to buy the item or not.
If pricing items by box or by a quantity, make sure the items are presorted. An open box with jars labeled "$4" does not help me if there are jars outside the box and I do not know if they are included or excluded.
Note for plant sales: Labels apply to these as well. This year, I have gone to three different plant sales in three different communities. The one in my community was an abysmal failure, in my opinion. While the prices were clearly marked, the plants were not. I have no idea what the name of the plant was, what its lighting requirements were, and the hostesses were standing around talking amongst themselves rather than making themselves available to buyers. Frankly, there was not a great variety of plants to choose from so I was disappointed in many ways. The previously visited plant sales had knowledgeable plant sellers with a great selection of well-organized and excellently labeled plants in individual pots.
While my list does not cover how to host a garage sale (good sites are here and here), I hope my list of suggestions helps improve the response to your garage sale. While it is hard to forget poorly serviced garage sales, I have several pleasant memories of friendly women and men who chatted with me briefly and made me feel a bit more connected with my neighbors.
Showing posts with label selling. Show all posts
Showing posts with label selling. Show all posts
Tuesday, June 17, 2008
Thursday, May 29, 2008
Measure local market values using craigslist
One thing I spend my time doing is checking the various postings on craigslist. My current interests include the "Materials", "Farm+Garden" and "Wanted" categories with occasional peeks at the "Free" listing. The postings are updated daily with more new listings than reposts, but if you are a daily checker like myself, you can see who is desperately trying to get rid of something.
Because I have spent so much time on craigslist (it has been over a year I have faithfully checked the listings), I have a sense of what the value of an item is. For example, I purchased a bread maker for $20 from a person posting on craigslist (still use it in fact), but from my hunt for a bread maker and subsequent purchases, I have a better sense of the value of such an item. Therefore, I know that someone asking $50 is less likely to sell it than someone who asks $20. My feeling is $25 is the market limit unless it is a really high-end bread maker and the buyer knows it value. Otherwise, the seller is unlikely to find a buyer.
So what I have I learned about used items other than the market value of a bread maker?
Do some market research
I have wanted an antique wood commode for a while. Using the search function, I found some listings that fit and looked at the items found. Between my mom's suggested value and the items listed on craigslist, a commode, all oak wood, with a decent finish and small amounts of cosmetic damage (e.g., scratches) will go for at least $200. Larger than average pieces or those containing marble are generally higher ($400 or more).
Looking at similar (if not identical) items you are interested in either purchasing or selling will give you a sense of what the local market will price the item. This requires patience and an investment of time unless the item is routinely listed (e.g., dressers).
Find buying opportunities.
If you spend each day on craigslist and see the same item listed for the same price repeatedly, this is a potential buying opportunity for you--but only if you truly need and will use the item. As a regular visitor, you will see these repeated postings and the dresser offered at the same price for the last three weeks is not likely to be more attractive in the 21st posting. However, if that piece is something you have considered, contact the seller and make an offer. Since the dresser has not sold, you have nothing to lose but the time you took to contact the seller. Be serious about your offer (per your market research) and truly intend to follow through, but this may mean you get what you want at a price that is closer to what you can afford and the seller has a success.
Learn to bargain.
I am still trying to implement this concept fully. That is, offering a lower price that is not an insult to the seller. I have offered $25 for a $30 item listing or $45 for a $55 item successfully, but I am not sure where the line between getting a better value and insult is. Trying to buy items from sellers on craigslist offers you the opportunity to practice bargaining. Since most of my contacts occur via e-mail, it eliminates the pressure that can arise in face-to-face transactions.
Start by asking if the seller would be willing to accept $20 for the $25 item and see if it works. If it does not, you save money by not purchasing anything and the seller can move onto the next potential buyer. Each success will make you more confident to try bargaining further, potentially improving your deals in other nontraditional bargaining locations, like the clothing store or a large-chain electronics store. Practice can only build your skills.
Figure out what sells and what does not.
This lesson is best learned when you try to sell something yourself. The market may be too saturated (bread makers) or too specialized (a traverse double rod at a width of 57"), but you will learn what disappears and what lingers. I sold my used RAM less than two hours after I posted it, contrary to my expectations. I thought the market was too limited, but was quickly proved wrong. However, my swag curtain is still in my possession after an interested e-mail that went nowhere.
Otherwise, repeated listings of an item may give you some insight into how well that item moves. Craigslist is a great local resource for buying and selling items (and even requesting wanted items). Utilize it to your benefit and you may find some great bargains as well as tips on how to sell items more quickly.
Because I have spent so much time on craigslist (it has been over a year I have faithfully checked the listings), I have a sense of what the value of an item is. For example, I purchased a bread maker for $20 from a person posting on craigslist (still use it in fact), but from my hunt for a bread maker and subsequent purchases, I have a better sense of the value of such an item. Therefore, I know that someone asking $50 is less likely to sell it than someone who asks $20. My feeling is $25 is the market limit unless it is a really high-end bread maker and the buyer knows it value. Otherwise, the seller is unlikely to find a buyer.
So what I have I learned about used items other than the market value of a bread maker?
Do some market research
I have wanted an antique wood commode for a while. Using the search function, I found some listings that fit and looked at the items found. Between my mom's suggested value and the items listed on craigslist, a commode, all oak wood, with a decent finish and small amounts of cosmetic damage (e.g., scratches) will go for at least $200. Larger than average pieces or those containing marble are generally higher ($400 or more).
Looking at similar (if not identical) items you are interested in either purchasing or selling will give you a sense of what the local market will price the item. This requires patience and an investment of time unless the item is routinely listed (e.g., dressers).
Find buying opportunities.
If you spend each day on craigslist and see the same item listed for the same price repeatedly, this is a potential buying opportunity for you--but only if you truly need and will use the item. As a regular visitor, you will see these repeated postings and the dresser offered at the same price for the last three weeks is not likely to be more attractive in the 21st posting. However, if that piece is something you have considered, contact the seller and make an offer. Since the dresser has not sold, you have nothing to lose but the time you took to contact the seller. Be serious about your offer (per your market research) and truly intend to follow through, but this may mean you get what you want at a price that is closer to what you can afford and the seller has a success.
Learn to bargain.
I am still trying to implement this concept fully. That is, offering a lower price that is not an insult to the seller. I have offered $25 for a $30 item listing or $45 for a $55 item successfully, but I am not sure where the line between getting a better value and insult is. Trying to buy items from sellers on craigslist offers you the opportunity to practice bargaining. Since most of my contacts occur via e-mail, it eliminates the pressure that can arise in face-to-face transactions.
Start by asking if the seller would be willing to accept $20 for the $25 item and see if it works. If it does not, you save money by not purchasing anything and the seller can move onto the next potential buyer. Each success will make you more confident to try bargaining further, potentially improving your deals in other nontraditional bargaining locations, like the clothing store or a large-chain electronics store. Practice can only build your skills.
Figure out what sells and what does not.
This lesson is best learned when you try to sell something yourself. The market may be too saturated (bread makers) or too specialized (a traverse double rod at a width of 57"), but you will learn what disappears and what lingers. I sold my used RAM less than two hours after I posted it, contrary to my expectations. I thought the market was too limited, but was quickly proved wrong. However, my swag curtain is still in my possession after an interested e-mail that went nowhere.
Otherwise, repeated listings of an item may give you some insight into how well that item moves. Craigslist is a great local resource for buying and selling items (and even requesting wanted items). Utilize it to your benefit and you may find some great bargains as well as tips on how to sell items more quickly.
Friday, March 21, 2008
Simplify my existence!
I have written on my efforts to live more sustainably and frugally, but not so much on simplifying my life. Living frugally and green has simplification incorporated into it, but it does deserve to have time devoted to its own discussion.
I have been selling items I no longer use, or purchased and just have not used. My primary motivation for going through my possessions and trying to sell them is to bring in a bit more money to add to my found money savings account. However, the side effect of this behavior is to simplify my life. I am choosing to humanely dispose of items that no longer bring me joy or are useful in my day-to-day life by finding a home somewhere else. Sometimes people pay me for the privilege of taking my stuff; sometimes I have to give them away. Either way, my house is a bit lighter for the removal.
To that end, I have been looking over the various items I own and wondering what else I could do away with. Getting some monetary compensation is nice, but I am realizing that getting rid of stuff is its own reward. My jaundiced eye is even considering getting rid of books, an item I am particularly possessive of as I have spent time collecting novels by authors I enjoy. However, I am one of those people that once I start a collection, I have a hard time stopping even if it is no longer worth my effort (and money). Therefore, it is time to cull the book collection. My goal: reduce my need for a bookshelf by one unit. Granted, it is a small, three-shelf unit (and not full), but one step is better than none!
I have also cast my eye on my CD and DVD collection. I have goals for these as well, but is more challenging because I have CDs from a subscription and record my own (to archive downloaded music) as well as purchasing new albums. I also find myself emotionally attached to my DVD collection so I will have to work hard on these too. While some people have found satisfaction selling DVDs on amazon.com or half.com, I do not see enough money to make it worth my effort.
Clothing is also tough for me to reduce. I do not need ten sweaters, but darn if I like them all and do not want to eliminate any of them. Being ruthless is not in my personality, but my wardrobe is one place I can do it productively. My closet and my dressers will thank me for the breathing space. Yes, I do have two dressers for one person. My excuse: I have no linen closet and need to store clothing in the off season. Do not even get me started on my pantyhose collection!
I start thinking about all the things I no longer need or use and the list just keeps getting longer. There is old software, stashed magazines I have not looked at in years, videotapes I have recorded but sit collecting dust and even items in the kitchen. Many of these will need to be purged not sold for money. Regardless, it is a task will need to be done. Fewer items in my home means less time dedicated to storing and cleaning them. The time for purging will be difficult to find as spring means planting, mowing and cleaning up the yard, not to mention home maintenance (I am painting part of my siding this summer).
Writing this post reminds me that I need to make lists and organize my time to get some of these new tasks done. I spend time balancing my checkbook, subtracting money spent from my spending plan and ensuring my automatic transfers are where they are supposed to be, but need to set aside time for other more financially indirect tasks as well. Here is to purging stuff and simplifying my life!
I have been selling items I no longer use, or purchased and just have not used. My primary motivation for going through my possessions and trying to sell them is to bring in a bit more money to add to my found money savings account. However, the side effect of this behavior is to simplify my life. I am choosing to humanely dispose of items that no longer bring me joy or are useful in my day-to-day life by finding a home somewhere else. Sometimes people pay me for the privilege of taking my stuff; sometimes I have to give them away. Either way, my house is a bit lighter for the removal.
To that end, I have been looking over the various items I own and wondering what else I could do away with. Getting some monetary compensation is nice, but I am realizing that getting rid of stuff is its own reward. My jaundiced eye is even considering getting rid of books, an item I am particularly possessive of as I have spent time collecting novels by authors I enjoy. However, I am one of those people that once I start a collection, I have a hard time stopping even if it is no longer worth my effort (and money). Therefore, it is time to cull the book collection. My goal: reduce my need for a bookshelf by one unit. Granted, it is a small, three-shelf unit (and not full), but one step is better than none!
I have also cast my eye on my CD and DVD collection. I have goals for these as well, but is more challenging because I have CDs from a subscription and record my own (to archive downloaded music) as well as purchasing new albums. I also find myself emotionally attached to my DVD collection so I will have to work hard on these too. While some people have found satisfaction selling DVDs on amazon.com or half.com, I do not see enough money to make it worth my effort.
Clothing is also tough for me to reduce. I do not need ten sweaters, but darn if I like them all and do not want to eliminate any of them. Being ruthless is not in my personality, but my wardrobe is one place I can do it productively. My closet and my dressers will thank me for the breathing space. Yes, I do have two dressers for one person. My excuse: I have no linen closet and need to store clothing in the off season. Do not even get me started on my pantyhose collection!
I start thinking about all the things I no longer need or use and the list just keeps getting longer. There is old software, stashed magazines I have not looked at in years, videotapes I have recorded but sit collecting dust and even items in the kitchen. Many of these will need to be purged not sold for money. Regardless, it is a task will need to be done. Fewer items in my home means less time dedicated to storing and cleaning them. The time for purging will be difficult to find as spring means planting, mowing and cleaning up the yard, not to mention home maintenance (I am painting part of my siding this summer).
Writing this post reminds me that I need to make lists and organize my time to get some of these new tasks done. I spend time balancing my checkbook, subtracting money spent from my spending plan and ensuring my automatic transfers are where they are supposed to be, but need to set aside time for other more financially indirect tasks as well. Here is to purging stuff and simplifying my life!
Thursday, March 13, 2008
Getting rid of stuff: exploring the wanted section
I have been getting rid of items no longer needed in my life like a second yogurt maker that never saw any use. To unburden myself, I have been listing items on craigslist or other local bulletin boards. Getting a customer is hit or miss as there are lots of items for sale and I have to find that person that is interested enough to actually meet me. However, I have sold two items recently from a different section that I had not looked at before: the wanted section.
On craigslist, there is a section labeled "wanted" in the larger "for sale" section. Usually I am looking to buy something and explore various other categories. However, I found this wanted section is a good place to look to sell items as well.
For example, I found someone interested in buying a yogurt maker of the type I have (five individual serving containers in the incubator). I contacted her despite the price being lower than I wanted to sell it. We negotiated, settled on a price and made the exchange in a public place. I moved one idle piece of equipment out of my home (with a small cash bonus) and she got a yogurt maker she wanted.
I purchased an Entertainment Book as part of fundraiser and regretted it almost immediately. It had lots of coupons, but few I would use. I do not eat out much and not many of the services applied to me. When I saw a listing asking for an Entertainment Book, I offered her mine for more than she was asking. We settled on a price that allowed me to break about even on the cost (I had used a few coupons) and she received the book at a discount.
Now I haunt the wanted listings to help me get rid of unwanted clutter that might be beneficial to another person in addition to listing my own items on craigslist. This is a hit-or-miss method, but so is an electronic classified ad. Having more than one opportunity to find a potential customer increases my chances of selling an item at I a price I can live with--even if it is free. Have you looked at the wanted list lately?
On craigslist, there is a section labeled "wanted" in the larger "for sale" section. Usually I am looking to buy something and explore various other categories. However, I found this wanted section is a good place to look to sell items as well.
For example, I found someone interested in buying a yogurt maker of the type I have (five individual serving containers in the incubator). I contacted her despite the price being lower than I wanted to sell it. We negotiated, settled on a price and made the exchange in a public place. I moved one idle piece of equipment out of my home (with a small cash bonus) and she got a yogurt maker she wanted.
I purchased an Entertainment Book as part of fundraiser and regretted it almost immediately. It had lots of coupons, but few I would use. I do not eat out much and not many of the services applied to me. When I saw a listing asking for an Entertainment Book, I offered her mine for more than she was asking. We settled on a price that allowed me to break about even on the cost (I had used a few coupons) and she received the book at a discount.
Now I haunt the wanted listings to help me get rid of unwanted clutter that might be beneficial to another person in addition to listing my own items on craigslist. This is a hit-or-miss method, but so is an electronic classified ad. Having more than one opportunity to find a potential customer increases my chances of selling an item at I a price I can live with--even if it is free. Have you looked at the wanted list lately?
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