Cleaning house this fall? Hosting a tag sale is a great way to both unload items you no longer need and earn a little extra cash. But you have to do it right. Here are a few tag sale tips on effective pricing, good signage and more.
1. Go Sign Crazy
Psst! Tag sale signs are really important. Have you ever passed a tag sale sign and not been able to read it? That’s a big deterrent for potential tag salers. If they can’t read it, they probably aren’t coming your way. So make sure your signs are big and bold – but succinct too. Less is more.
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“Place large signs at the end of your street, and continue setting signs along the road leading to your garage sale. Make sure all signs have matching colors, in case there’s another sale in your neighborhood – you don’t want to direct someone to a sale other than your own,” says Carly Fauth, Head of Marketing and Outreach at Money Crashers (www.moneycrashers.com).
2. Advertise Digitally
Back in the day, when you wanted to host a tag sale, you’d take out an ad in the newspaper. But times have changed, and the advent of the digital age means advertising online is the way to go.
“Advertise your sale for free on Craigslist, rather than undercutting your profits by paying for an ad in the newspaper. If a neighborhood tag sale is forthcoming, participate in that and you won’t have to spend any advertising dollars at all,” says Fauth
Some towns even have Facebook pages where tag sales are advertised, which is another great way to get the word out about your tag sale.
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3. Arrange Smartly
Good tag sale organization is more than just tossing a few items on a table or piling clothes on a tarp. In fact, messy displays (see clothes on tarp, above) could actually work against you.
“Put large or unusual items close to the curb to generate more awareness,” says Fauth. They can draw people into your sale.
“Use nice displays for jewelry and racks for clothes. Table clothes will dress up the look of your sale and mirrors will help customers trying on various items,” says consumer and money-saving expert, Andrea Woroch (www.andreaworoch.com). “Not only should you dress up the sale, but make it easy to browse. Use signs for pricing and other related information and organize by category.”
4. Price Well
Yes, you want to make money on your tag sale, but if you price things too high, few will even try to haggle. “Price all of your items with a bit of wiggle room – tag sale aficionados love to haggle. By pricing your items a bit higher, you can give discounts and make buyers feel like they got a deal, while still making a decent profit,” says Fauth.
Fauth also suggests color coding your pricing system to make it easier. “Set up a dollar table as well, but make sure you do the color coding so someone won’t grab a more expensive item and stick it on the dollar table,” says Fauth.
Also, don’t be surprised when people try to negotiate too. “Get ready to bargain and set the price a couple of dollars higher than you rock bottom so you can negotiate without losing out,” says Woroch.
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