Tuesday, April 13, 2010

A successful sale begins with thoughtful pricing


A successful sale begins with thoughtful pricing. Customers should see prices posted as soon as they enter your space. You could have price lists displayed close to the goods, or one huge price list that is easy to read. Loud colored poster board, big lettering, and maybe some artistic twists will catch the eye. Cover every type item…remember, people go to dollar stores and continue to ask the price of things, so assume nothing.

Clothing is usually abundant at every sale so overpricing equals no sale. Generally we suggest that children’s clothing be priced at $1, or less for smaller items. A grab box of free children’s items (stained and worn) will buy friends.

People are often “funny” about buying shoes. Keep your footwear low price if you really want to sell. This rule can be broken if you have a new pair, never worn, and still in the box.

If you want inventory to move keep T-shirts at a max price of 50 cents. Dresses no more than $5, slacks, jeans around $3 and yoga pants $2. Jackets not more than $5, and overcoats never more than $10 (the $10 overcoat would be a North Face down jacket type quality).

Toys should be in a dedicated spot, away from the crowd so children can play. They also should be priced to sell with the option of a “free” box as well. Games in good condition, $2, but little cars and such should go for 50 cents or less. Plastic toys made in China are a bane to civilization (our opinion here) so let them go cheap, cheap, cheap. They will be on our planet forevermore. Toys handmade in the USA are treasures. Ask a “bit” more for these, but remember you are passing something special on to another child so be fair.

Home gym stuff can be tricky. If you have a Nordic Track, good luck. Put a $1 on the price and be happy that someone carts it away. Exercise equipment found by infomercials can usually be found at next year’s yard sale. Just let it go cheap. You know it didn’t work for you. Exceptions would be treadmills and exercise bikes in good working condition. One of us found a Tuntura exercise bike at Salvation Army for $25. The original price was hundreds more, but this should give you and idea about pricing.

A full set of linens with pillow cases, no rips or stains price no more than $5. Tablecloths with no stains can be priced around $3 and let your cloth napkins go for about 4 for a dollar. If you have a comforter that was truly “gently” used you should still keep the price under $10. Any other blankets, comforters should go for FAR less. If someone is at your sale looking at a raggy old blanket then they need it. Or their pet does!

If you have jewelry that is expensive, a yard sale is not the place to sell. Your costume jewelry should be priced to sell with a range of one to three dollars for a necklace, and usually about one dollar for earrings.

HOUSEWARES
Cast iron skillets (if they are the real deal and not from China) are sought after items, but remember, you are not an antique booth and YOU want to sell. Do not exceed $1 per piece for dishes, cups, and glasses; much less if they are not great quality. The old Teflon pots and pans should go to the dump, not a sale. They are likely toxic. Any cookware that is aluminum should be priced at almost nothing. Old Revere ware in good shape can bring in $2-$5 depending on the size of the item. People love Corning Ware, and these pieces should sell well. Random flatware should be priced to sell at 10 cents each.

Books are also another abundant sale item so keep your prices fair. Suggested pricing would be $1 for hardback and 50 cents for paperback.

We hope that this has provided you with a pricing blueprint. Furniture will be covered in another blog, and we welcome comments and questions about this material.

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