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Submitted by: Anna Noto
10 Ways To Sell Your Stuff
As much as we may dislike it at some point in time, we all find ourselves in one of these situations… we’ve been collecting for years and now want to sell that collection; we’ve inherited an estate we would like to convert to cash; or we’ve cleaned out the attic, the basement, the storage building and have boxes of stuff we’d like to sell. If you fit into one of these circumstances, you’re probably looking for a good way to get rid of all those things.
While it would be easy to just give unwanted items away, most of us would prefer to get a monetary return on these items, especially if trying to recoup monies spent on the original purchase.
While there are several ways to get rid of stuff – all resulting in monetary reward – not all are equal in effort or monies received. The top ten (10) ways to dispose of stuff are itemized below.
1. Garage Sale – the easiest way since you can hold the garage sale at the location of your choosing. You also have control of date(s), can set and negotiate selling prices and control hours of operation. You should be aware of possible permit requirements, have help in running the sale and know the value of items you’ll be selling.
2. Individual Estate Sale – by having the estate sale yourself there are no fees involved and you can charge more for items since everyone expects to pay more at an estate sale vs. garage sale. Having your own estate sale also allows you to choose the location of the sale, and set days and hours. You can sort and review items as you tag them for possible unknown value as well as keep items of significant sentimental or monetary value.
3. Professional Estate Sale – you hire a business to oversee the entire estate sale. In this case, they take care of any permits, pricing, tax consequences, and advertising. Before committing to any contract, you should ask for references, have a clear understanding of their services, know how much they charge for their services, agree on when and how you will be paid after the sale, and have an understanding as to who will clean-up after the sale.
4. Flea Market/Trade Day – this is a great way to sell stuff because there is already established traffic. You would need to select from available dates and have everything pre-tagged. Knowing the value you want for your items is primary because most people that go to Flea Markets and Trade Days expect to haggle over prices so you may want to build in a’haggle factor’.
5. Consignment Shop – this works best for a either one item or a small number of items. Consigning is easy in that you just drop off the item, they sell it for you and you pick up your payment. Before leaving anything at a consignment shop, you should read and understand the contract with particular regards to the percentage they charge and when unsold items are to be picked up so you don’t forfeit them.
6. Classified Ads – running an ad in the local paper can work if you don’t have any concerns with people coming to your home or calling you.
7. Direct Sale (To Dealer) – selling your stuff directly to a dealer can be an excellent way to unload if you don’t expect to get top price. In most cases a dealer will only pay a percentage of the book value for any item. You should have both a maximum and minimum price in mind before approaching any dealer. Most dealers will not make offers but if they do, you should know if it falls within your expected price range.
8. Direct Sale (To Public) – this entrails selling directly to someone that you may know personally or someone that has been referred to you by a relative or friend. You have a better chance of selling the item if they are already an interested buyer. However, making this type of contact may be difficult if you don’t have a good network of friends and relatives.
9. Auction – an auction can either be onsite or at the auctioneer’s auction house. If you have a lot of stuff and you’re just looking to get rid of your stuff, an auction can be a good thing. They do all the set-up, handling of transactions, sales taxes and then give you a check. Before signing a contract, get references, understand what percentage the auctioneer will receive, ask about any additional fees for advertising, handling or moving of items, etc., and get details on how the auction will be run, i.e., will there be minimum bids? will there be reserves placed on items? You should also find out what happens to items that may not be sold.
10. Online Selling – this can be selling items on your own website or blog, selling through one of the established classified web sites or on one of the online auction sites. Selling online gives you continuous exposure and the advantage of setting your own price. Each one of these online venues has it’s own nuances and should be investigated before using.
Regardless of which method you use to sell your stuff, know the value(s) before you begin. Doing so will mean you get the most dollars possible for your stuff.
About the Author:
Arlington Resale
Why pay retail when you can buy resale
Resale Review Blog
Suburban Chicago Resale Review Blog
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