A full 40 percent of U.S. households are headed by Boomers, and this group controls 54 percent of the country’s household wealth. Though the Great Recession delayed retirement plans for many folks in this large demographic, they’re now on the move. Roughly 54 percent of Boomers who plan to move over the next few years do plan to downsize, though not always in the conventional sense. Some will spend less on homes the same size, while others will go for smaller homes with higher-end amenities. No matter what downsizing plan they follow, this move will require a bit of cleaning out. Whether you call it a garage sale, a yard sale or a tag sale, selling overflow clutter and other nonessential items from the comfort of your yard is an efficient and simple way to start the downsizing process.
1. How should I advertise the sale?
Use a variety of advertising methods to let a wider group know about your upcoming garage sale. Start by taking out a classified ad in your local newspaper. Though you’ll have to pay for the ad, the fee is usually fairly negligible and the return is well worth it. Visit your local library, grocery stores and other shops that have community bulletin boards, and put up advertisements on there as well.
Use the Internet to also get the word out. Post on your local Facebook page, and then look for any Facebook pages sponsored by your community where you might be able to post about the sale. Don’t forget to put up an ad on Craigslist’s Garage Sale category.
The right signage will also drive people to your garage sale. Invest in large signs that let people know you’re having a garage sale, and post them in front of your home as well as at nearby major intersections. Make sure that the signs have your address, the date and times of the sale and arrows pointing people in the right direction.
2. When is the best time to hold a garage sale?
Weekends are an obvious time to hold your garage sale, but some weekends are better than others. Avoid major holiday, such as Memorial Day weekend or the Fourth of July, as many people will be busy traveling or attending parties instead of going to yard sales. You may also want to consider when people get paid. If you have a major employer in the area that pays its employees once or twice a month, holding your sale the weekend after they get paid might bring more qualified buyers to your event.
Most garage sales start in the early morning and run until early afternoon. While you might be tempted to keep your garage sale going all day, you’ll get more people if you hold it two back-to-back mornings instead.
3. How many people will I need?
Garage sales are a lot of work, so don’t do it by yourself if you don’t have to. Recruit as many friends or family members as you can to help gather, clean, organize, price and sell your belongings. Even younger nieces, nephews or grandchildren can play a role by putting price stickers on things, collecting money or bagging up purchases.
4. How do I price my items?
Stay realistic as you price things for your garage sale. While that simple ceramic pitcher may be priceless in your eyes, nobody is going to give you a million dollars for it. Keep in mind why you’re holding the garage sale, and stay focused on your goal. You’re going through this to get rid of things as you start the downsizing process, and making money is just icing on the cake. You’re better off selling a lot of things at a lower price than a few things at a higher price. For yard sales, the general rule of thumb is to sell used items at 20 percent or less of the price you paid for them.
5. How do I make sure I stay safe?
No matter how bucolic your neighborhood is, don’t let your guard down when holding a tag sale. Hopefully, your yard will be bustling with people that day, and there are some who might take advantage of that. Make sure your home’s doors and windows are locked, and keep cash in your pockets rather than in a common area. To head off problems before they start, consider posting a sign indicating that there are no public restrooms available at your home. Make sure you have all of the supplies you need outside before the garage sale starts so that you’re not forced to go in and out while everything is taking place.
6. How do I prepare?
Think like a shopper as you set up your garage sale. Organize like things together, and have a simple layout for your tables that gives people plenty of room to browse. Make sure that all clothing you’re selling is hung up on something, and lay tarps, sheets or blankets on the ground to hold miscellaneous items.
Make sure you have enough change to accommodate someone who’s willing to buy, and have bags available for those who are purchasing multiple items. To stave off confusion, label any items out in the yard that are not for sale. Finally, if it’s a warm day, consider selling bottles of cold water. You’ll keep your customers happy and make a little extra money.
7. What do I do with leftover items?
Unless you’re extremely lucky, you’ll still have quite a bit left over after your garage sale. Plan ahead so that you’re not scrambling at the last minute as you face a mountain of items on your front lawn. If you live on a busy street, consider putting some of the items by the curb with a large sign that says “Free.” Your local Salvation Army, Goodwill or even Habitat for Humanity’s ReStore might be willing to take the items off of your hands. Just remember to ask for a receipt so that you can deduct the contribution on your income taxes.
