How to Start Pricing Garage Sale Items: A Magic Trick
You've finished spring cleaning and have several boxes of items to sell. How do you start pricing garage sale items for the next big sale?
Learn the magic formula for determining how much your stuff is worth, and make pricing garage sale items a breeze. Grab the calculator!
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Instructions
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Think realistically when pricing garage sale items. We've all been to those that want $25.00 for a well-worn shirt. Are you kidding? The idea is to SELL your stuff. The more reasonably your items are priced, the more items sell.
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Use the formula.
For pricing garage sale items realistically, there is a formula. I have about 3 garage sales a year and came up with this as a way to determine how much my stuff was worth.
Anything you have is 100% to begin with. Right? Each year you keep an item is worth 30%, so 1 year= 30%, 2 years= 60%, and 3 or more = 90%.
Let's say you have a filing cabinet that was $50.00, new. You keep it 2 years. First off, your 2 years is 60% of cost.
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Multiply the original price X the percent of of cost YOU have used, and this is what YOU have gotten out of it.
In the case of the filing cabinet. $50(new price) X 60%(cost you've gotten out of item)= $30.00, Amount YOU have gotten out of it.
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Determine the price.
If I've got $30.00 out of the filing cabinet, what's the price?
New cost - amount you've gotten out of it = Asking Price
$50.00 - $30.00 = $20.00When pricing garage sale items, this works for GOOD used condition.
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Take more off for blemishes.
If it has dents, pings, or blemishes, subtract five dollars for each. Take the filing cabinet for example: If it is dented AND pinged, you would subtract $10.00, because there are 2 things wrong with it, and 2 X 5 = 10.
Good used condition - blemishes = Asking price
$20.00- $10.00 = $10.00Ask $10.00 for the filing cabinet.
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Use this as a guide for clothing as well.
Of course, if you have stained clothes, you'd be better off throwing them away. There are some cases where you have to use your better judgment.
If you bought a dress for $200.00 and tried to sell it a year later, you most likely will not get $140.00 at a garage sale.
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Make a "cheap" box or table that will attract buyers. Find 10-20 items that you want to sell, but should not be selling as "good condition" items.
When pricing garage sale items for this box or table, multiply the original cost times 10% and this is the asking price.
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Tips & Warnings
When pricing garage sale items, use common sense.
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Comments
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sonni57
Mar 18, 2009
Garage sales are fun but can be work too thanks for the good info on how to price items. -
jseven
Mar 16, 2009
This is a pretty good method.. I love garage sales! 5*
