Spring has finally arrived and many of us are preparing for the first yard sale of the year If you're anything like me, you are brain storming ways to make sure that you will receive the highest possible profit from the hard work that will be placed into it. This is why I will be practicing and suggesting that others do the following tips to keep a yard sale budget organized and get the greatest earnings in return.
First you should research every item that you that you feel has value, including ones that may not. Some items may surprise you with a higher value, so make sure to with your gut instinct. If you think you should research the item via the internet, don't hesitate to do so.
Websites such as Craigslist, Amazon and Ebay are great examples of websites that will show you the current market for the items that you will be selling in your yard sale. You can also check your local social media yard sale groups (such as ones on Facebook) to see if anyone else in your area is selling the same item or something similar and at what cost.
You will also want to research these items on thee websites to see if it wold be more profitable to sell the item there, verses selling it in the yard sale you'll be hosting. An item that you may sell for $5 in your sale may be currently selling for $25 on one of these websites.
When doing research on the item and deciding what price to place on each, you will want to make that you are being mindful in this decision. Not only will higher prices run off potential customers, but you will customers who will want to 'talk you down' in price as well. By asking for just a few dollars more (depending on the value of the item will help you decision on how much you should ask) will help you meet your actual goal of getting your moneys worth for the item.
Always make sure that when you are creating your budget for advertisement of your sale that you should do everything possible to advertise for a low cost, even free. The point in having a yard sale is to make money while spending the least you can. Advertise on social media websites, use boxes, cardboard and other material for signs and use word of mouth to help spread the word about the sale.
*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.
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