Sunday, March 28, 2010

Pricing Your Items to Sell

Pricing reminder!
When tagging your items, you get to decide what you want the item to sell for. Sometimes this can be tricky.....we are not a yard sale - the lowest price is $2 - so make sure it's worth at least $2 or group like things together to get a $2 value!

If you price it too low, it will sell quickly but you will not make a lot on the item.
If you price it too high, it will not sell and you will probably bring it home or end up having it donated!

So how do you decided what to sell it for?

My general rule of thumb is based on 2 things:

1) the magic number seems to be 1/4-1/3 of retail with some exceptions for New with Tags, and larger toys like Little Tikes, etc.
2) ask yourself, "what would I pay for that at a consignment store?" What would make me pick it up and buy it without hesitation? If you would buy it at that price, so would another mom!

Still not sure what to price things at? Have a look at our Pricing Tips page on our website the link for which can be found in the CONSIGNORS HQ.

In conclusion, be fair...to YOU and the SHOPPER! It will be a WIN/WIN for all. You will have it out of the house, make a little money and the shopper will have found a good deal! If it is priced right, it WILL sell! Guaranteed! Things that are leftover are usually either over priced or not marked 1/2 off or were just not acceptable to begin with and slipped through inspections -it does happen :)
Our shoppers do want bargains but they are also willing to pay a reasonable price for items as well!

Happy Tagging!

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