5 Tips for Maximizing Your Yard Sale Profits

Summer is traditionally a time for yard sales. You can clean out your house, and sell what you don’t need or want.

While a yard sale can be a quick source of cash, the reality is that it’s probably not going to be very much cash. You need to strategize in a way to maximize your profits so that you can get the highest possible prices for your items.

Here are 5 tips that can help you maximize your yard sale:

1. Pick the Right Time

Your first job is to figure out when to hold your yard sale. Timing matters. Don’t hold your yard sale over a long holiday weekend; people are usually out having fun. You want a weekend where people are home, looking for something to do.

Also, it can help to have the hard sale on a week where people are likely to be paid. The first and third weekends of the month often present ideal times, since potential shoppers are more willing to pay when they feel flush with cash.

2. Choose the Right Price

Don’t forget that you need to price your items correctly to get the most out of your yard sale. People coming looking for cheap deals, so keep that in mind. You will have to price your items for between 1/4 and 1/3 of what you paid for it. Unless something is in great condition, and comes with original packaging and instructions, you aren’t going to be able to sell it for a lot.

If you have items that have a greater value, consider selling on eBay rather than selling at your yard sale. Many people prefer to take their clothes to consignment shops rather than sell them at yard sales, where they will get bottom dollar.

3. Pay Attention to Presentation

How something looks matters when you want to sell it. Clean it up so that it isn’t dirty and gross. Not only that, but you’ll want to pay attention to the way you organize your yard sale. Make it easy to see the items, and clearly mark them. You don’t need to label each thing if you make posters that indicate that everything on a particular table or in a bin is the same price.

If everything is neatly organized and attractive, the perceived value is higher, and you will be more likely to get a better price.

4. Get Social with Your Advertising

You don’t have to buy an ad in your newspaper to advertise your yard sale. Save by posting it on Facebook, Craigslist, and Twitter. Check to see if your hometown has a local online Classifieds. Many towns do, and it is usually free to post. If you take the time to use the free resources available to you, you can keep more of the profits for you.

5. Be Prepared to Bargain

Be willing to bend a little on the price — especially as the day wears on. In some cases, you might be able to throw in another item for free, rather than come down on the price. However, make it clear (with a big sign) that all sales are final and there is no returning an item for a refund.

What’s your best yard sale tip?

Image: Dan McKay via Flickr

About the Author

Miranda writes about financial topics for several web sites. Her blog is Planting Money Seeds, and her book, Confessions of a Professional Blogger, is available on Amazon.