by R Shimoda

Created on: September 11, 2008

The decision on which method of sales will get you the best returns depends really on what is being sold. There is no question a garage sale will give you the fastest payment but one needs to consider the set up (making and posting signs, assembling items for sale, figuring out prices, etc) versus using an online service like Ebay with its buyer protection program but encountering competition from other sellers.

My wife and I have been buying and selling on Ebay since October 1997 and we have also had and participated in garage sales so have done both. Our experience has been collectibles will command a higher price on Ebay than it will if sold at a garage sale. Let's briefly review what a collectible is. My definition is an item that has a high enough demand that it is possible to sell it for way more than its original selling price.

One common fallacy of persons who start out selling collectibles is that if the item is old, it must be worth money. The problem is that it depends on that the item is and how old are we talking about. A 100 year old physics text in good condition may be worth $5 which is more than its original sale price of 25 cents. On the other hand a 1955 double stamped Lincoln head penny is worth hundreds of dollars. If age is the sole indication of selling price, one would think the physics book should be worth more than the penny, but it isn't.

But technically both the book and the penny are collectibles but as you can see, command radically different gross profits. If an attempt is made to sell a collectible at a garage sale, one will quickly find out it is an exercise in futility. Folks who go to garage sales normally will not carry thousands of dollars with them and also will usually assume regardless of whatever price is quoted or shown for the item, is negotiable. "Say will you accept $5 for that original painting of the Mona Lisa by Leonardo Da Vinci?" is the type of thing I've heard many times.

The other problem with selling collectibles at garage sales is the number of potential customers. Typically you will have 30 - 40 people show up in the course of garage sale whereas having an on-line auction, you could have hundreds or thousands depending on what you're selling.

Now that I have built a case for on-line auctions, let me share a few tips about how to maximize your visibility. Try to include as much detail about your item in the description such as model number, color, size, manufacturer, series, etc. These are items a serious collector will look for to determine if he wants your item or not. Photos are a must. Take a bunch of shots and select the best 3 or 4 and add it to your listing. Price is a tricky one and I check completed auctions for similar or the same items to get an idea of the sale price. If the price is too high, no one will bid so I like to start at 1/2 the average sell price. Do not take bids from overseas buyers or persons with lots of negative feedback because the odds are you will either take a long time to get paid or may never get paid.

More common items like pots and pans, aren't worth listing on Ebay and you'll find a garage sale works fine. Don't fight buyers too much on price unless you really don't want to sell the item cheaply. If that's the case, you shouldn't be selling it at all. Basically if you don't want the item, any price over a penny is sufficient.

Happy Selling!

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