Tips for garage or yard sale pricing

Price tags – Always show prices with price tags or price stickers. People want to know how much things cost. If you do not display prices you will lose many sales because a lot of people do not feel comfortable asking how much an item costs.

Product descriptions – When appropriate have a note to accompany your products. For example if a product is faulty or it does not work, have a big sign on it to let people know the state of play. Many handy people are happy to purchase items that do not work for a bargain and then repair them so do not throw anything away, sell everything!

Price comparison – For higher priced items or items that you think you may have trouble selling, show some price comparison information. The best way to do this would be to attach a recent advert selling the product new to your product thereby illustrating your products “true value” to your customers.

Haggling – Because of the nature of a garage sale and the bargain mentality that your customers have, many of them will even try to negotiate the prices down further. Just be mentally prepared for this and treat it as a bit of a game.

Just know in advance what all of your products cost you and what the absolutely lowest price is that you are prepared to accept for an item. Then have fun. If it gets too low, just tactfully refuse. You can of course also try to get the customer to buy a package deal. So you could agree to his lower price if he buys say another $20 of goods at their marked prices.

Firm prices – If you do not like or want to haggle, this is ok. Just mark all your prices as “firm”. This means that you have already marked the goods at the lowest price and that you are not prepared to negotiate. You will still have some customers who try to haggle. Just tell them that you cannot help them as you are selling the goods for someone else and you do not have the authority to negotiate prices.
Ask them to leave their details so that you can contact them at the end of the sale if the items remain unsold. Many times they will just buy the product at the marked prices!

Wiggle room – Give yourself some “wiggle room”. If you want say $25 for an item mark it at $30. When someone asks if you will consider $20, offer to meet them halfway at $25. You get your price and they think that they have scored a little victory so everyone is happy.