If you are toying with the idea of getting involved in the business of buying and selling, antiques and collectibles, but find yourself short of any extra cash to back your venture, this is the way that I recommend getting started. Everyone has items they no longer use; Get rid of them! Use them to your advantage. Here's how.
Get Organized. Gather up your merchandise. Though there's not a lot of money in selling clothing, this is the perfect time to unload items that you are not using. Kid's clothing does best, since it's usually outgrown before it is worn out, and there is a lot of budget minded parents who realize this and think it makes good sense to invest as little as possible in their own children's clothing. Make sure the clothing is unwrinkled and clean. You may want to place your better clothing on hangers. I have seen some really organized garage sales, where the owner will fold everything neatly and separate the clothing into sizes.
Leave no stone unturned! Clean out the attic, the garage, the basement. ect. If you are really into it, bake cookies or make some crafts. Divide your house plants; pot the starts in attractive little containers - ladies love them! Discarded and outgrown toys sell well. Framed prints and silk flower arrangements you no longer use, recipe books, and paperbacks, tapes records, dvd's, cd's, and that kitchen appliance that's more trouble to store than it's worth can be turned into cash to get you off and running.
After you have gathered up your merchandise, you will need to price it. Realistically, clothing will bring at the most about 15% - 25% of what you had to pay for it, if it's still in excellent, ready to wear, condition and basically still in style.
Remember, that garage sale buyers expect to find low prices. Depending on how long you plan on staying open, you will have one day, possibly two to move everything. If you start your items out too high, you will more than likely end up with lots of leftover merchandise, most of which you have already decided is worthless to you. The majority of your better buyers will hit early on; make prices attractive to them and you will do all right. If you come up with some "low end" collectibles - fast food toys, played with action figures, character glasses - do not expect to get too much out of them at a garage sale. If you have a few items that you think have some resale potential, offer them about half of book price. If they do not sell at your garage sale, take them to a flea market or consignment shop, where customers expect to find prices higher there than at a garage sale.
Advertise; Place your ad in the local paper or on your town's cable TV information channel. Make sure your ad is interesting and upbeat. Though, most sales usually start early on Thursday, (in my area) or Friday mornings, some people are now holding their sales in the early evening, and they seem to be having good crowds. This gives people with day jobs the opportunity to attend. You might want to hold your sale for 2 days, but you will do 90% of your selling during the first 2-3 hrs. Make signs - smaller ones for street corners near your home to help direct passers-by, and a large one for your yard. You might even want to make another one saying 'Clothing 50% off after noon.' This will ensure that you do not have a bunch of leftovers that you will have to dispose of later. Make sure you have lots of boxes, and bags and plenty of change. If you price your items in increments of .25, you won't need anything but a few rolls of quarters, maybe 10 or 15 ones, and a few five dollar bills. Then on the day of the sale, put the large sign up in a prominent place out front with some balloons to attract the crowd. Take a deep breath, brace yourself, and let the sale begin!
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