In many cases, an item is only worth what somebody is willing to pay - no matter how valuable that item is or was originally. Many times a certain style or colour falls 'out of favour' and is only appealing to garage-sale-mentality.

Not for everybody, but whether selling on CraigsList or Ebay I research the going price of the item, and price it at 1/3 of that price. Seems to be a good starting off point. If it's 'worth it' the price will be driven up on Ebay and as CraigsList is usually local people and item doesn't have to be packaged up for mailing or delivery and there's no advertising costs or overhead, the 1/3 price is usually about what you'll get.

Of course, this is a moot point if what you have is very desirable, unusual or rare.

That's why the last time I advertised I put this in the ad: "If you're looking for cheap junk and have $2 to spend, this will NOT be a sale for you." It is amazing how much this cut down on the "looky-loos".

This post was edited by debodun on Sat, Aug 3, 13 at 15:47

Of course you realize that the decrease in "looky-loos" might be because you turned people off with your attitude!

Why wast my time and theirs if they don't want to pay a fair market price?

I suspect it's your issue for putting items like that in the wrong venue. You were accurate when you identified a garage sale mentality. People do that for fun, and make the rounds for the sole purpose of finding that pearl cast in with the swines. If they were seriously shopping for antiques and expected to pay fair market prices, they'd go to an antique shop instead or answer a classified ad. Many who garage sale or attend auctions are themselves dealers and want to make profits. I suspect you could phrase your intent in such a way as to not turn off prospective serious shoppers by saying some antiques and collectables are available and priced at market value. The up side to putting up with those 'lookers' is you at least generate traffic to your point of sale and somebody might fall in love with a piece of it and spring for it. If you don't turn them off with a bad first impression.

It's not obvious to me what difference the "venue" makes. If an item is worth $100, it shouldn't matter where it's sold.

Oh, but it does matter where it is sold. Garage Sales are the bottom of the food chain of antiques and prices are at the bottom as well. As you move up the food chain to the ritzy antique stores in large cities, THAT, is where you get the price of what they are worth!

In our area, people WOULD NOT pay the amount of money an item is worth at a garage sale. PERIOD! They're looking for the bargain and as someone said, they are dealer's themselves and so they must make a profit.

I think you have unreal expectations if you expect to get $100 for those chairs at a garage sale -- $50 would probably be a more likely price and then a buyer would try to get it down a little more.

You do not know your clientele.
You do not understand "marketing".
You place no value on overhead.
If garage sales worked as you would prefer they do, there would be no need for antique stores and galleries.
It takes time and effort to get the buyer and the object in the same place at the same time.
Case in point: I put a $75 tag on an art deco light fixture at my yard sale. No takers. Sold it a week later on ebay for $265. Probably went to a retailer who marked it up at least another 30% or more. But I was delighted to get what I did, even after the ebay fees.
Casey

DO NOT like having yard/garage sales, but LOVE going to them. Usually get roped into doing on late in summer when neighbor organizes one.

Last time I did one, had 3 "high ticket" items... a large dog crate, a sliding-door insert doggie door, and a 6-8 person wood toboggan. I KNEW each item cost at least $150 brand-new. Put $50 on each... a STEAL... and didn't get a single nibble! When I got totally BORED, packed ecverything up in car and donated to a local thrift shop. Was totally willing to haggle, but NOT giving stuff away for pennies!

Why do people expect to get antique shop prices at a garage sale?

Well, sometimes good things do happen. Ten years ago, when we moved from NH to Mystic and downsized, DH & I held a huge garage/moving sale. LOTS of stuff, mostly smalls. But, I put a sign on the back door, "Antiques for Sale, Inquire at Sale". It worked very well. We sold over $7K out of the house that day in cash sales. I mentioned the antiques in the newspaper ad but didn't make a big deal of it at the garage sale. People came up to us and asked. I would take them inside one at a time and DH held court in the driveway with the garage sale. It was a success for us but a huge amount of work and I'd never to it again.

/tricia

Exactly what I was getting at. If you let people know that valuable pieces are available for viewing, and are separate from the bargains, you'll get people not expecting to buy them for nothing. That's why hard core collectors and dealers attend a lot of auctions, especially estate auctions. They know in advance what is going to be there, know the value of the stuff they wish to buy and offer the top dollar they are willing to give if they have competition. Don't be offended by people trying to dicker you down at yard sales. It's a game to them and the joy is in the haggling. I am not a haggler, I don't enjoy it, but neither do I let people bother me who try and many will and some will even get nasty and do expect you to give away your stuff. It's nothing but a business transaction and don't take it personally.......but do try a different approach. To put something like you did in the add............it would say things about your attitude even if you hadn't meant it to.

Maybe I should word the ad "There are antiques and collectibles which are priced accordingly."

Bingo. There ya go! Remember "You'll get more bees with honey than with vinegar."

Yep!

When my cousin had a garage sale out at her country home. Her things were very high end antiques and decorator stuff. Many of us put things in her sale as well.

She had signs all over the place that read "Decorator Sale". Her sale was a success and people weren't surprized at the prices.

I have done around 100+ sales of this types for myself and others and agree with the previous poster that folks do this for fun and they love to feel they are getting a bargain.....many times when I am doing a sale for someone I will ask them to keep they high value items inside and put a sign up advising they can be viewed upon request....otherwise my philosophy is "huge volume-tiny price" and in the end its works out well this way....the point isn't just to make the big bucks, its to not have to haul away pack away and deal with all the STUFF.....its better to sell it for something than keep it for nothing....and yes giving a good sale is a HUGE amount of work..