Make Money With Tag Sale
Terri Sapienza:
These lazy days of summer are the perfect time for clearing your home of clutter. Why not make some money in the process? That once-used breadmaker may no longer have a place in your life, but it could be just the thing your neighbor is looking for. Here are some basic guidelines for holding a tag sale:
1. Set a date – Saturdays are usually best. Consider the 1st and the 15th of the month, when lots of people have just been paid. Late summer/early fall can be particularly rewarding if there is a college nearby;
2. Expect early birds – Dealers and serious shoppers often show up one to 2 hours before the advertised start time. To avoid this, charge an early-entry fee or clearly state ‘No early birds’ in your ads;
3. Advertise – It’s against the law in some jurisdictions to put signs on public property such as trees, lampposts and telephone poles, according to Pepco. Instead, put notices in local papers, on message and bulletin boards, and on Internet sites such as Craigslist, and Yard Sale Search;
4. Spruce up and organize – Clean everything. Wash dishes, dust books, steam or iron wrinkled clothing. Items should be in proper working condition; if they’re not, say so. Mark prices clearly and group like items – toys, sporting goods, kitchen appliances etc. For clothing, indicate the size on the price tag;
5. Things you’ll need – Have plenty of small bills and change. You don’t want to lose a sale because you can’t break a large bill. Also have a calculator, a notebook and pen for recording sales, a measuring tape, shopping bags, a garment rack and mirror if you’re selling clothing, and an electrical outlet where customers can test appliances;
6. Price items to move – Unless it’s something like a Kitchen-Aid mixer still in its box, plan on selling items for well below what they cost new – and be prepared to negotiate;
7. Leftovers – Before the sale, decide what you will do with things that don’t sell: Offer them free to last-minute shoppers? Arrange to have them taken away by a professional hauler or the municipal bulk trash service? Donate usable items to a charity? The IRS keeps a list of organizations eligible to receive tax-deductible charitable contributions.
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