Throwing a Garage Sale? Use This Handy Pricing Guide

Sure, you can sell your stuff on Facebook marketplace. Or, you could just drag it outside and tack up a few signs. A garage sale can be a great way to meet your neighbors, and hopefully, you'll accomplish two goals while you're at it: Get rid of unneeded possessions and earn a little money. The key to doing both is following garage sale pricing best practices! There's a fine line between pricing items too high (which deters shoppers from buying them) and pricing them too low (which means you won't earn any money).

If your goal is to simply empty your home for an upcoming move or to make space for new furniture, price everything to sell (read: dirt-cheap). But if you want to make money, take care to walk that fine line. Beyond good advertising—the digital kind on social media and the old-fashioned, neon poster board kind you put up around town—garage sale pricing is the factor that can make or break your event. The cost of living varies by region, so research first by browsing local thrift shops and other sales in your area.

Garage Sale Pricing Suggestions

The 10% Rule

Sometimes, math is simple. For an easy pricing guide, try the 10% rule where you price whatever item it is that you're selling for 10% of its original cost. So, if you bought that lamp for $20 at Target five years ago, try to sell it for $2. If you know something is worth more, say it's handmade or from a luxury brand, feel free to fiddle with the price and go up to 20% of the OG cost. But overall, the 10% rule gets things done, sold, and out of your house.

Quanity Over Quality!

Garage sales are not the time to get into the finer details about a piece's quality, you're just trying to sell as much as possible as fast as possible. If you have some higher quality items, they may be better off online or through private selling. For your garage sale, you'll make the most and attract the most attention when you have a lot of items out for cheap.

Check for Tags

If you have any items that still have their price tag on them, like a dress you never wore, or a lamp with the tag hiddle on the base, feel free to up the price and try using a 30-40% rule. The price tag makes them seem more authentic and new, so you can get away with it!

Watch Your Cents

Garage sales are one of those old-fashioned spots where cash still reigns king. Sure, you might have Venmo, PayPal, or Apple Pay going on, but it's always good to have a stack of cash (get lots of $1s!) and coins on hand so you can make change when people (inevitably) barter with you. Also, remember to price your items in increments of 5, like $0.5, $0.10, and $0.25 so you don't have to deal with pennies.

Do Your Research

A quick browse about the thrift shops and other garage sales will help a ton as you get ready for your own. You can check what's selling, what's not, and what the best price ranges are. But if you've got something you think is actually worth something or a limited edition, say a rare CD, signed book, or autograph, check online first before you just add it to the heap for the sale. Some things may surprise you on eBay, you never know!