Yard Sale Season

Dear Dr. Per Cap: 

I’m planning a yard sale soon.  I’ve got a bunch of tools, cookware, and classic Stars Wars toys to sell.  Any tips for how to make it a success?

Signed, 

Thrifty 


Dear Thrifty:

It’s that time of year again when folks rummage through closets, garages, and basements for discarded belongings and relics that might still be worth a few bucks to a neighbor or another community member.  I have a yard sale every few years myself and I’ve learned a few strategies that with a little planning, can help make yours a success.

First off, consider teaming up with a friend. Not only does it make the whole process more fun, but it also gives you more inventory and a wider network to promote the sale.  Moreover, it gives you a chance to hang out and visit during what will ultimately be a long day outside.   You know, get caught up on all the latest gossip, community news, and current events. Also, if you or your friend needs to slip away to use the restroom or run an errand, the other person can keep an eye on the sale.

When it comes to pricing, be realistic and price cheap! This is probably the most crucial tip. People come to yard sales looking for bargains, so don’t get hung up on what you originally paid for an item. The goal is to clear out your stuff, not make a huge profit on every single piece.  Remember – if an item doesn’t sell, it just takes up space somewhere in your house.  Again!

And here’s a little secret one of my aunties taught me about yard sales: throw in a few items with a very low mark up, like cold drinks and snacks. Once someone makes that first small purchase, they’re much more likely to stick around, browse, and buy more. It’s a psychological win!

Load up a cooler with sodas and bottled water along with an assortment of snack sized bags of chips, mixed nuts, and candy.  Just don’t gobble up all the goodies yourself!

Another thought is how to display your goods.  Most yard sales will have a wide range of items – some really cheap and basic like housewares, DVDs, and clothing.  While other items might have a bit of a wow factor – bicycles, furniture, power tools, that vintage Stars Wars Millennium Falcon playset.  Make sure to position the cool items so they stand out and people can see them from the road.  Some folks will only stop if something catches their eye.

Lastly, don’t forget to advertise.  Signs positioned along nearby roadways and well-traveled intersections are great.  But don’t forget social media and web-based advertising too.   A small posting with photos of what you’re selling on websites like Craigslist or Facebook Marketplace can make a huge difference.

Good luck with your sale and if the Millennium Falcon doesn’t sell, give me a holler!

Funded by First Nations with support from the FINRA Investor Education Foundation, it's important to note that the content provided does not constitute professional or financial advice, and Dr. Per Cap is not a licensed investment advisor. Questions can be directed to Dr. Per Cap at [email protected].

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