Turning a Profit at Yard Sales: Tips for Buyers
Spring is in the air, which many many people will be hosting yard sales to get rid of their unwanted items. If you're in the business of buying and reselling property for a profit, you should use this time wisely to attend as many yard sales as possible. Because conventional wisdom should lead you to believe that the more shopping you do, the greater your return on investment. However, there are a few other tips that can help increase your profits from yard sales, some of which we're going to discuss in today's blog post.
Bring a Backpack... or a Tote Bag
What's the purpose of bringing a backpack or tote bag to a yard sale? If you have a tendency to purchase several small items, this accessory will prove invaluable in facilitating your yard sale shopping experience. You can simply toss all of your purchased items into the bag and head for the next yard sale. Just let the yard sale host know ahead of time your reason for carrying a bag, as some may wrongfully assume that it will be used for shoplifting.
Use Your Smartphone
Assuming you are own a smartphone (and you should!), use it valuate items for sale at yard sales. If you see a flat-screen TV, for instance, fire up your mobile web browser to check prices. Using this information, you'll have a better understanding of whether or not a high-dollar item is worth buying. If the host is trying to sell the TV for more than what's worth, don't be afraid to offer a more reasonable price. You can even show the yard sale host the actual price on your smartphone, which may convince him or her to lower the price.
A money-saving tactic used by many seasoned yard sale shoppers is to bundle items, offering a flat amount for the entire lot. Rather than paying the ticket price for every item, you should group your items together and then offer the seller a slightly lower price. Assuming the price difference is minimal and not unreasonable, most sellers will oblige, allowing you to take home a bundle of items at a lower asking price.
Of course, you can negotiate lower prices with or without bundling items together. If you are only interested in a single item, offer the seller 5% less than the asking price. After all, the worst that can happen is they'll say "no."