Downsizing? Determined to get rid of stuff you no longer need? Cleaning out a home or an estate? Stop. Know before you throw.
Fall is a popular time to clear out excess stuff, second only to the proverbial spring cleaning. Garage and yard sales can be a lot of work but can be a great way to recycle serviceable stuff and turn that trash into cash.
A few important things to remember when holding a sale are:
- There are professional thieves who target and work garage and yard sales. It’s sad to say, but they know you are not a seasoned retailer and they exploit it. They pass counterfeit money, fake personal and bank checks, or simply shoplift your stuff when they have you distracted. There’s a lot of information available online about this issue. So, do your research and be prepared. For instance, protect your cash with a counterfeit detector pen, available at office supply stores—see DriMark.com.
- Make sure you are well staffed, and your people are watching for suspicious activity. Don’t be afraid to ask a shopper to leave if you suspect he is up to something.
- Don’t let people into your home (even if they ask to use your bathroom).
- Always keep the cash box out of sight.
- There also are professional pickers. These people make a living buying underpriced items at garage, yard and estate sales and then reselling them. They like to show up early in the morning before the sale starts, or even the night before, with a story about why they can’t come when everyone else does and asks to just take a look around. If they find that undervalued gem, they will beg to buy it before you are open for business.
- Do your research before pricing your items. The last thing you want to do is sell a box of junk jewelry for a few dollars when it might be worth thousands. (I wrote about this in the May 2016 issue, which you still can access online here.)
- Don’t allow one party to dominate a section and spend a long time sorting through and picking the best. In these cases, the goal is to keep other buyers away until closing time. Then, they will make a very lowball offer. (Ask them to pay as they go. The more they actually pay for as they go, the better deal you might give them.)
- People expect to negotiate and pay less. Have fun with it. Remember, you don’t want to bring it back into the house, so make a deal that’s best for all.
What are the most popular garage sale items? In no particular order, you can expect people to be looking for kid’s clothes, sporting equipment, electronics, power and hand tools, toys, DVDs (movies and games), furniture, household items and jewelry.
If you feel uncertain about the value of your items, consider the advice of a professional. If I can be of assistance, call me today, and be sure to ask for my Garage Sale special.
Jon Englund has more than 25 years of experience in appraising and liquidating personal property, jewelry, art, collectibles, antiques, furniture, printed items and more. A Midwest transplant, Jon trained at New York University in appraisal studies. For more information, call (480) 699-1567. You also can send an email to Jon@KnowBeforeYouThrow.INFO.