Since I moved back home after graduating from college, I have wanted to have a garage sale. Not only have I been saving all my clothes that I have outgrown or no longer like, but I have also been packing up odds and ends into boxes in anticipation of a sale. However, as summer came and went, I still have yet to hold that garage sale but have boxes and bags piled up in my garage still waiting. The question that is left for me now is if it is really beneficial for me to even go through with the sale at all anymore.
There are many benefits and drawbacks to having a garage sale and everyone may have a different situation depending on where they live, how much time they have, etc.
Benefits
• Get a little extra money – Since times are hard, it is easy to benefit from a little bit of extra cash in your pocket. This money could go towards gas, into your savings, or even to purchase something you have been wanting.
• Trash = Treasures – Obviously the things you are getting rid of you may think nobody would want, but you would be surprised how much people will be willing to buy at garage sales. Some families even look in local papers for sales they can travel to on the weekends.
• Include your neighbors – We asked our direct neighbor if she wanted to be a part of the garage sale as well. Not only does this make the sale more appealing to people, but it gives you more space to use for parking and putting tables, etc. Your neighbor may also have a different group of friends or different ways to get the word out in order to draw a larger crowd.
Drawbacks
• Time consuming – Planning and executing a garage sale can take a great deal of time and effort (sometimes too much for the amount of money you get out of it). Really decide if what you are selling is worth your time and the time of people who might come to your sale. You want to include some attractive products to draw the crowd and make sure it is worthwhile.
• Have to keep the prices low – People are looking for a bargain at garage sales and not necessarily looking to spend a lot of money. Think of what you would do with the items if you weren’t able to sell them and price accordingly. Even a few cents/dollars are more beneficial to you than throwing something in the trash.
• Spend money to make money – According to our partners at MainStreet.com there are many times when you hold a garage sale that you must spend a little bit of money in order to get an audience to attend your sale. Some of these extra costs may include advertising and supplies for signs and pricing on your items to be sold. When we were thinking about having our garage sale (although it may still happen) my mum was going to put an advertisement in our local paper and also a larger publication in order to generate more awareness. Many people also put ads on Craigslist.org which usually draws a decent crowd looking for sales.
So, the longer my boxes and bags sit in the garage the more impatient my parents get with having so much junk just sitting around. Make sure that if you do have a garage sale you also figure out what to do with what is left over. Donations are always great and often times if you donate clothes you can get a receipt to use for your tax deductions.
Weigh the pros and cons to decide if a garage sale is really worthwhile for you to hold. You could either be surprised by how much money you actually make or you could come away with little to no profit. It is a hit or miss situation, but often times seems to work out for the best when people execute a garage sale correctly, efficiently, and at the right time of the year.
Photo: Andrea Church
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