Buying & Selling: Learning the Art of the Tag Sale
by Amy Lignor
When people speak about making a few extra bucks, there is more than one way to skin a cat these days. Perhaps you’re trying to save up for a vacation for the family to take this summer. Perhaps you are looking for collectibles to invest in. Oddly enough, many people do not realize what, exactly, was in Great Grandma’s house when she passed on to a happier place. There are even those who will put her things on a table, mark them twenty-five cents, and declare them to be old knickknacks (AKA: things you need to dust every five seconds.) Trouble is, a lot of those knickknacks can actually be worth hundreds or even thousands of dollars. Heck, there have even been things found at tag sales that have been resold in the millions. No. Not kidding. Are the chances immense that you’ll find such a buy? No. But, there have been those that have proven this particular once-in-a-lifetime-event can happen.
It’s not all old clothes and junk jewelry. There are collectible books that show everything from old signage to objects that you can invest your money in that are constantly found in the nooks and crannies of garages all across the land. Baseball cards, figurines, porcelain vases that just happen to be expensive (all you need to do is look at the markings to find out if it’s a true addition to your own personal income.) Keep an eye out for emblems, as well. Everything from the Disney to Harley Davidson products can be found in your neighbor’s front yard on a sunny Saturday morning if you just pay attention.
So what is something worth? Whatever someone else is willing to pay for it. The greatest finds come in all shapes and sizes. A British man visits a garage sale in Las Vegas and picks up 5 old paintings for five dollars. Turns out, when he took the time to reframe them, he actually found a sketch inside one that was created by THE Andy Warhol when the master was only ten years old. The man’s five dollars turned into a whopping $2 million. Good margins, if you ask me.
But what do you need to know if you’re on the other side of the Tag Sale fence? If selling instead of buying there are very important tips you need to know that will bring buyers in by the droves.
The first and most important is location. There are many roads out there that aren’t exactly well-traveled streets. Which means, ask a family member or a friend living in a high-traffic area if you can hold your tag sale there. And if you can combine your tag sale with them or even the entire neighborhood, it is important to remember that many people will head straight to a “multi-family” yard sale, as well as an “estate sale,” no matter where it’s being held.
Picking the right dates to hold the tag sale is also important. Now, yes, the weekend is still the best considering that is the normal available time for most people to be able to travel the roads because they’re not having to go to work. Best way of doing it? Add Friday in there. Retirees, collectors – Friday is a great day for them and you will make more money. All you need is the stamina to turn a two-day sale into a three-day.
Another thing to watch is the weather report so that Mother Nature doesn’t hinder your sale. And when it comes to timing, even though 8 a.m. seems “really early” to some, 7 a.m. is the best time to begin. Even when you state “no early birds” those birds will most definitely swoop in early. They want to begin by 7 a.m. so they can complete their tag sale day by 2 p.m., especially in a hot state, such as New Mexico. They want to be out in the cooler air, so if you start at 7 a.m., you will sell a whole lot more.
Above all, please remember that the newspaper ad doesn’t work nearly as well without the signs on the roads. In fact, many people don’t read the newspaper at all; they head down the road and look for those signs that are large, listing the date, time, location and address. To get even more customers, remember to use a bright sign (electric blue, pink, green) that stands out along the roadside so the driver can’t miss it. And use a black magic marker so that everything can be read clearly.
Learn the Art of the Tag Sale – both buying and selling – and you will most definitely be able to save up for that vacation, find that knickknack that turns out to be a true investment, and even get rid of those things in the home that you no longer want to dust!
Source: GIG News