What to look for at garage sales - What books and sites are must reads?

[Mkelly315]

Since I am frequenting a lot more garage and estate sales these days, I wanted to ask if there are any books or websites that are must reads when learning about what to look for. This website is an amazing resource, but I would like to learn as much as I can. Every weekend I can't shake that feeling that I'm passing by something spectacular because of a lack of knowledge.

Any must own books or must read websites? Something with pictures and descriptions would be a bonus.

Thanks for your help!!

 

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Treasure of Victoria Peak - Grab it through Amazon!

[kaczor777]

Hi
If you're interested in buying coins you might want to buy a red book (United States coins).The Red Book is much more than just a guide to tell you how much a coin is worth! Besides the price listings for every known U.S. coin, the Red Book serves as an outstanding overall reference guide. It has thousands of full-colour images of coins, with detail photos that show you the difference between, say, a 1982 Large Date and 1982 Small Date Lincoln Cent. For a beginning collector, this book is even more important, because it has new-collector essentials such as a guide to grading your coins, a glossary of coin terminology, an introduction to each coin type, and an essay on the history of U.S. coinage. The intermediate collector will enjoy the sections on famous sunken treasures of U.S. Coins, noted U.S. coin collectors, famous U.S. coin hoards, and rare coin investing. The best thing of all about the Red Book is that it costs less than $15 in paperback, and you can often find it for half that.

 

[jerseyben]

Since I am frequenting a lot more garage and estate sales these days, I wanted to ask if there are any books or websites that are must reads when learning about what to look for. This website is an amazing resource, but I would like to learn as much as I can. Every weekend I can't shake that feeling that I'm passing by something spectacular because of a lack of knowledge.

Any must own books or must read websites? Something with pictures and descriptions would be a bonus.

Thanks for your help!!

Read this forum and use ebay.

There are millions of items out there so your quest is "bigger" than what can be posted here.

 

[Tallone]

Suggestions:

1) Read every thread in this forum starting with the first post back in 2005 (or something like that).

2) Go to Craigslist and look at the listings in the Collectibles section and also the Antiques section. When you see something interesting, go to eBay, search for that item, and look at the Sold listings to get a sense what things actually sell for (as opposed to what people ask for them).

3) Go to Auctionzip.com and bring up a list of upcoming auctions in your area. Many auction listings will post photos. Find some items of interest and do eBay research as described in item #2 above.

4) Attend a few auctions. Get there about an hour before the start time so you have plenty of time to look carefully at the items being sold. Bring a note pad and jot down what you think you would be willing to pay for a few items of interest. You don't have to bid on or buy anything but, for the items you noted, see how close your estimate is to what the item actually sells for.

5) Go to a few professionally run estate "tag" sales. These are the kind where the estate sale company puts a price tag on everything. For the large majority of items, these companies price things pretty close to "full retail value" - meaning what the item would sell for if you put it on eBay.

Don't worry about missing out on something good. I'm sure we all do and always will. The bigger risk is paying too much. I've been doing this stuff for years and I still make both types of mistake. Probably less often than I did earlier but I still make them.

 

[Tallone]

Here are a few guidelines I try to use in my own treasure hunting:

1. I rarely spend more than $20 on any single item. This limits my risk. One bad decision on an expensive item can wipe out the profit from many smaller items. A bad decision on a $20 or less item won't do much damage. I will occasionally exceed my $20 limit but only if I am extremely confident in the value of the item.

2. I only buy items that I believe I can make at least a $20 profit on. This helps weed out the marginal items from consideration. This also helps avoid one of the other big issues (at least for me) in yard sale hunting. That is, acquiring too much stuff. You can find stuff all day long that you can pick up for a buck or two that you think you can sell for $5.00. That may be true but it is important to think about how much time you have to process things and how much space you have to store things until they sell. For me, my space is limited and my time has value. I figure, on average, I invest about 30 minutes on each item I sell. This goes into cleaning the item up (when necessary), taking photos, posting on eBay, and packing it when it sells. It ain't worth it to me to spend 30 minutes to make $3.00.

3. Pay careful attention to condition. This can make all the difference between a good buy and a bust. I am especially wary of electronic things because electronics frequently break down and it can be almost impossible to adequately test them "in the field". Fragile items like glass and ceramics are also easily damaged and such flaws are often difficult to spot. This doesn't mean that items in less than perfect condition have no value. It is just that condition drives price. I have always felt that I make my money on the buying side of things. A good purchase price makes a profitable sale much more likely.

4. Listen to your "gut". If a prospective purchase doesn't FEEL right (either because of the price and/or the condition), walk away. You can't lose money you didn't spend.

5. If a seller mentions the word "eBay" when discussing an item, drop it like a hot potato. That is a sure sign the seller has been checking his items out on eBay and thinks he can get that price at his yard sale. Maybe he will but if you buy it at that price, you probably won't make any money on it.

6. Look under stuff in boxes and check out the dark corners and other "hidden" areas (bring a good, high intensity LED flashlight with you). Many of my best buys have come out of places like this. These are the areas the seller doesn't value and the majority of buyers won't take the time to look.

7. Major brand names are a big plus. If you recognize the name, chances are the item will bring a higher price.

8. Be wary of anything marked "Made in China". Lots of cheapo knock-offs of good quality popular items are made in China.

9. Take a good look at things in the original packaging. Originally packaging often means the item within is in very good condition and the original box often brings much higher prices. This is especially true of old stuff.

10. Develop an "eye" for quality. High quality materials and workmanship almost always means higher value.

Don't expect to find "spectacular" buys. I can find $20 - $30 profit items almost every weekend but a $100 profit on a single item is unusual. The higher the profit, the less frequently you will find items like that. For me, I'm thrilled to make $50 profit.

I hope this helps. Good luck.

 

[austin]

Everybody has an opinion, but a friend(she was a business partner) once told me to just buy what appealed to me and I would do ok. She was right...

 

[meanpc]

For low cost electronics - I simply ask if the item works. For instance, this past weekend a guy had a Sony turntable and 3 LCD monitors on a table. I simply asked him if they worked and he said they did, so I bought them. By low cost, I mean 5 bucks or less.

 

[jerseyben]

For low cost electronics - I simply ask if the item works. For instance, this past weekend a guy had a Sony turntable and 3 LCD monitors on a table. I simply asked him if they worked and he said they did, so I bought them. By low cost, I mean 5 bucks or less.

This is one of my main strategies. If I see an electronics items I want, I pick it up, look it over, and ask the seller if it works before asking any other questions. 9 times out of 10, this instills doubt in the seller as to whether or not the item actually works.

Then it is very easy to throw out a lowball offer and they usually take it. Something like: "Well, I'll take a chance that it works for $2". I think only 1 time I bought an item and it ended up being broken (using this method).

 

[clovis97]

The best way to learn, IMO:

Sit down and study the completed listings on ebay in categories that you are interested in. If you spend hours doing this, you learn that the Beatles records with picture sleeves are worth more than those without, often by $50-$100.

Read this forum every day.

Make a list of things you thought about buying, but didn't. Go home and look them up. Experience is the best teacher in these instances.

Everyone wants to know how I became successful enough to ebay for a living. It is the hard work and hours I have spent studying endless completed listings on ebay. I don't glance at completed listings, I study them in depth.

Most people are not interested in hard work; they just want to get lucky. Last week, a friend came to me needing to earn $200 a month, and wanted to try ebay. When I explained a number of different ways to make that amount, all of which involve work, that person got ticked, and derided the whole conversation. In reality, they want to me to tell them how to make $200 a month with no work, no risk, and extremely minimal effort, with no more than 10 minutes involved in the whole endeavor.

 

[jerseyben]

The best way to learn, IMO:

Sit down and study the completed listings on ebay in categories that you are interested in. If you spend hours doing this, you learn that the Beatles records with picture sleeves are worth more than those without, often by $50-$100.

Read this forum every day.

Make a list of things you thought about buying, but didn't. Go home and look them up. Experience is the best teacher in these instances.

Everyone wants to know how I became successful enough to ebay for a living. It is the hard work and hours I have spent studying endless completed listings on ebay. I don't glance at completed listings, I study them in depth.

Most people are not interested in hard work; they just want to get lucky. Last week, a friend came to me needing to earn $200 a month, and wanted to try ebay. When I explained a number of different ways to make that amount, all of which involve work, that person got ticked, and derided the whole conversation. In reality, they want to me to tell them how to make $200 a month with no work, no risk, and extremely minimal effort, with no more than 10 minutes involved in the whole endeavor.

You hit the nail on the head with this one!

There are not enough "likes"!

I would like to add 1 thing to this: In addition to saying "Most people are not interested in hard work; they just want to get lucky" I would like to add that most people will require some "business sense" or a basic understanding of the principles of business in order to be successful versus just winging it and hoping for the best.

 

[Tallone]

"Make a list of things you thought about buying, but didn't. Go home and look them up."

Excellent advice. I have done this many times. Sometimes I discover I missed a good opportunity. Sometimes I find I avoided a loser. Both results are good additions to the store of knowledge.

 

[squiggy]

Take your phone with you and look them up while you are there, so you don't miss an opportunity. .

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[jerseyben]

Take your phone with you and look them up while you are there, so you don't miss an opportunity. .

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While I respect your opinion and this is valid advice, I would like to add that I have never once done this and do not regret it for a second.

The real knowledge comes from going to a sale and having the confidence to know what to look for and to know the methods to use to buy stuff without knowing exact details but to still walk away with a great deal.

 

[clovis97]

"Make a list of things you thought about buying, but didn't. Go home and look them up."

Excellent advice. I have done this many times. Sometimes I discover I missed a good opportunity. Sometimes I find I avoided a loser. Both results are good additions to the store of knowledge.

I started this practice many years ago. I mostly attend auctions, where big talk, gentlemen's tales and outright bragging is more common than hearing an auctioneer chant.

So, after hearing person after person brag their head off about all the grand profits they were going to pocket, I decided to start researching those items myself. The "$1,000 saddle on ebay, any day" and the "lantern that will surely bring $250"....well, let me tell you, some people are better at running their mouths than they are feeding it. The $1,000 saddle sold for a mere $150, and the lantern didn't even make $21.

Then, I started looking up everything that I bid on at an auction, but didn't win. Since I didn't know anything, some days, that list was mighty long. I still spent the time looking it all up, generally spending HOURS on the completed listings, carefully studying the listings, and trying to figure out why things sold for certain prices, while other similar items didn't.

 

[squiggy]

While I respect your opinion and this is valid advice, I would like to add that I have never once done this and do not regret it for a second.

The real knowledge comes from going to a sale and having the confidence to know what to look for and to know the methods to use to buy stuff without knowing exact details but to still walk away with a great deal.

I agree Ben..I just don't have the knowledge that a lot i f you do!
I recently went to a huge sale, and found a wildlife print that was in original frame..pd $2 for it and turned out on eBay it was $149.00 I can see how fun this could be if I knew more!

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[jerseyben]

I agree Ben..I just don't have the knowledge that a lot i f you do!
I recently went to a huge sale, and found a wildlife print that was in original frame..pd $2 for it and turned out on eBay it was $149.00 I can see how fun this could be if I knew more!View attachment 1007899

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I have advised people to buy what they like. Buy for the right reasons too; for yourself, gifts for friends/family, to save money, etc. Dont always buy stuff just to make a buck because thats where people get burned.

 

[squiggy]

Yep, I bought this for a rehabber friend..she loves it!

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[cyberdan]

I would like to add that most people will require some "business sense" or a basic understanding of the principles of business in order to be successful

you also hit another nail on the head. It just won something in a barter auction that included free shipping. This seller took a lot of bubblewrap and wrapped the items real well (which is good) and put it in a small priority mail box (also good) and paid the $5.80 shipping plus there was another $1 and change stamp on the box (total almost $8) and mailed it to me. So far sounds pretty good, you think?

The item I bought? two old laptop RAM cards that I paid 499 points for. (If I had to buy the points 92¢) he could of wrapped them in printer paper and put in small envelope and spent less the $1

The point i am trying to make? I am sure this person will quite the auction game quickly not understanding why he can't get ahead in the business.

buy the way if anyone is interested the barter auction I belong to is listia.com you auction things for points and then spend the points on auctions you win. If anyone joins use my name cyberdan as a reference I will get extra points. I sell my books almost everyday there.

 

[TreasureHunters]

check my sig

 

[silverdollarbill]

Talk to the people running the sale, be friendly, be yourself.

This is a great thread.