4 yard sale rules to live by - HMS National, Inc.

4 yard sale rules to live by

June 25, 2014

Proving the old adage that one person's trash is another's treasure, yard sales always seem to garner a lot of attention. Not a weekend goes by in the summer that someone isn't selling their old or unused belongings, so you'll want your own to stand out in the crowd.

With an array of stuff to get rid of, you may be wondering what's the secret to holding a successful yard sale? Does it depend on the items being sold or are there other factors at work? Take a look at these four rules that can help serve as guidelines when you're preparing a yard sale.

1. Make sure 'the price is right.' The goal of any yard sale is to make as much money as possible. However, if you wind up pricing something for less than it's worth - or, alternatively, want more than what your customers are willing to spend - you'll likely either come up short in profits or be left with your unwanted goods.  For example, according to experts, books and CDs should sell for no more than a few dollars and items in general ought to be at least 15 percent less than what they were brand new. Much of this depends on the condition of what's being sold, though.

2. Be mindful of sentimental value. You may have mixed feelings about selling something that means something to you, such as a special picture frame or stuffed animal. As a result, you may be inclined to overprice something. Be mindful of this and try to understand that what's special to you might not be for the person interested in buying.

3. Get to know your potential clientele. You'd be amazed at how much you can learn simply by observing yard sales in your area to see what sells. Before determining what things you want to include in your yard sale, go around to ones being held locally to see what's being offered as well as what has the highest amount of demand. If watching isn't enough, ask the yard sale organizers what their hottest products have been.

4. Put a priority on orderly. People as a general rule are visual creatures - if we see something that's attractive or well organized, we're more likely to buy into it as a result. This rule holds true with yard sales. In other words, try to make your yard sale aesthetically pleasing by arranging items so that they're in line. You should also be consistent. For example, when pricing goods, you may want to use a color-coded labeling system, grouping all books with one color and clothing with another.

The information in these articles is intended to provide guidance on the proper maintenance and care of systems and appliances in the home. Not all of the topics mentioned are covered by our home warranty or maintenance plans. Please review your home warranty contract carefully to understand your coverage.