http://www.cambridge-credit.org — Each weekend, thousands of families across the country set up shop on lawns and stoops in hopes of parting with treasures of times gone by. Thousands more set out each weekend poised for the hunt of bargains. This staple of Americana generates some serious revenue to pay down bills, or build savings, and like all sales, time and energy are required to make the event a success.
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Hello, and welcome to Your Money 2.0. I’m Thomas Fox, Community Outreach Director of Cambridge Credit Counseling. Summertime is here and so is the Yard Sale season. Each weekend, thousands of families across the country set up shop on lawns and stoops in hopes of parting with treasures of times gone by. Thousands more set out each weekend poised for the hunt of bargains. This staple of Americana generates some serious revenue to pay down bills, or build savings, and like all sales, time and energy are required to make the event a success.
Presentation is key, so take a cue from retailers and think about how you will present your items. We are all consumers, so think about the stores you frequent. Are you more likely to purchase from a seller who has things laid out neatly and accurately labeled, or from a cluttered store? De-cluttering also helps because most people shopping at yard sales don’t know what they are looking for until they see it. If items are covered by other items, or generally out of sight, you will miss out on sales. Put everything on tables, blankets or in buckets. Also, clothing has a better chance of selling if they are hung up. Sales can also be affected by cleanliness, so take time to wash, polish, and repair your sale items before the big day.
Another important aspect of Yard Sale success is pricing. According to the Shoestring blog, clean, well-kept, and large items can go for as much as 50% of what you originally paid for them. But, if the object is worn or damaged, reduce the price even more. Remember, you’re not trying to even out your original expenses. Furthermore, make sure to clearly label each item. Half of the fun of yard sales is the realization of stumbling across a great deal. Having to ask how much each item is going to cost takes the fun out of things.
Marketing your Yard Sale will help to drive foot traffic. The Shoestring blog makes a few recommendations here as well. The morning before your Yard Sale, create a posting on Craigslist. In the post, list your top items, any popular brands you are selling, and any unique items – be sure to include your asking price. The more details you offer, the better your chances someone searching for these items will find your sale online. The night before your Yard Sale, make a dozen or so signs and hang them around the neighborhood. It is recommended you write “YARD SALE” with an arrow pointing toward your location. Be sure to include the date and start time. A word of caution, find out if your neighborhood has any Yard Sale restrictions. Some areas may require a permit and have stipulations as to signage.
Some of us are not salespersons by trade, so here are a few tips to help you out. Don’t smother shoppers. Be friendly and approachable, but allow people to browse and take in your offerings. Also, you will encounter hagglers. Be prepared to accept suggested price cuts providing they are reasonable. Everyone likes to get a deal, and making price accommodations can help you move items that might otherwise go unsold.
Well, that’s it for this edition. As always, we welcome your feedback and ask for your thoughts and suggestions by e-mailing us at yourmoney2@cambridgecredit.org. Thank you for watching. Until next time, I’m Thomas Fox for Cambridge Credit Counseling.