Here are a couple comments to my post titled Give Smart that suggested maybe garage sales weren't worth the time (Suze Orman's take). This first one has an interesting perspective on the hidden benefits of garage sales:
I like setting up garage sales. Money in hand is better than the promise of Uncle Sam not taking quite so much money later. You can't earn interest on promises.
It's also a safe "laboratory" for testing salesmanship, presentation, and negotiation for anyone who has even a little bit of an entrepreneurial streak. The garage sale might bring in only a few dollars, but it's practice for setting up a bigger business, and you can work out some of the kinks in your selling and negotiation style by hosting a garage sale. Plus, you get to see the tricks that other people use when they negotiate with you. It makes you a stronger buyer at other garage sales.
That's a good and worthwhile comment in my opinion. People spend hundreds of dollars on salesmanship seminars, but there's no better training than hands-on experience. A garage sale certainly give you this.
Here's another thought:
In the past we've cleared somewhere around $500-$1,000 for a days work. Not bad at all, and certainly better than we would have made in terms of tax deductions -- then again, we've been in a pretty low tax bracket in the past. Another suggestion would be to sell the most valuable items on eBay and donate the rest.
Not bad money at all. And a good alternative suggestion.
Finally, a comment that made me chuckle:
I don't know if Suze has actually been to a yard sale but if she has she probably didn't notice that many of the people holding a yard sale aren't exactly in the upper tax bracket and thus most likely wouldn't receive much if any tax benefit from their meager goods. Maybe this is why you don't often see yard sales in the better neighborhoods?
;-)
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