A garage sale arbitrage is one of the options to get rid of the stuff you don’t need as soon as possible. It’s doable and can be fun while you earn some quick bucks, but it takes a good deal to work. Before having a garage sale, considering these pros and cons:
- Most people are given the chance to check things out physically at a garage sale. Customers prefer to try the clothes on or the items to be tangible before buying.
- As the seller, you make the call. You can decide when to sell and what to sell.
- There’s a chance of less potential buyers compared to posting your items online.
- Customers expect a bargain at a garage sale, so don’t expect too much dough for your stuff.
Sort the items
Sort things into 3 piles: sell, donate, and recycle or trash. There can be things that won’t fit at a garage sale, such as designer clothes, expensive jewellery, etc. You can list those things online instead. Clean up the rest and sort them into categories: household items, linens, sports gear, etc.
You’ll need an accessible residential area with plenty of traffic to get the best customer response. If your place won’t do, perhaps a relative’s or friend’s garage or yard is suitable to borrow. Also, you can make the garage sale a more welcoming place for walkers-by to visit by playing some music.
Signage and advertising your garage sale
Create highly visible signs and put them out in the proximity of your garage sale. Make the date, time, and address eye-catching and legible. People would not want to stop their cars just to come and read the fine print.
Advertising on multiple channels like social platforms, websites, or the local paper is best practice, so list some of your key items.
In putting a price tag on every item, make sure they are clearly listed as most people wouldn’t want to or are shy to ask. Avoid pricing too high and leave room for haggling. People are expecting a bargain, so better give it to them.
To test anything electrical, include a power source and multi-plug in your area. If you’re selling lamps, plug them in so people can see that they are working.
Organise and don’t overdo it
People will be more drawn to clean and well-organised preloved items. It’s nicer to look at neatly hung clothes than huge piles, giving the impression of better quality garments.
It can be overwhelming for customers to look through so much gear. Put smaller pieces in one box with a marked label to let buyers know what’s in it and to save time. Add more to the tables and racks as things sell.
Do not include stained, overstretched, or torn garments that will put people off. They might see it and think of junk and chaos.
Be prepared for people to come early to beat the crowds.
Partner up with someone’s garage sale
If it’s possible, join someone else’s garage sale. This will mean more variety for people to buy, you can share the load, and more assistance for customers.
If you liked our “Garage Sale Arbitrage: How To Set It Up” and found some useful tips, check our blog space regularly for more info on getting out of debts and updates on the best budgeting apps in Australia.