My biggest fear in selling at the consignment sale was pricing.
What should I sell my clothes for?
How much was too much too ask?
How much was too little?
I didn’t want to ask for more than people would be willing to pay, and look greedy. But I also didn’t want to sell everything cheap—I wanted to get the best price I could!
So ultimately, how did I decide to set my prices?
The most tedious and time consuming process for me wasn’t entering the prices, but determining the prices. I’m sure this is because I analyze every possible scenario!
I started with the pricing guide sheet that JBF provided and then set my prices in 3 different ways.
- If I thought people might pay a little more, I added $1 or $2. This was for items that were in really good condition, extremely trendy or a higher priced brand like Hanna Anderson.
- If I was feeling nostalgic and didn’t want something to sell, I added $1-2.
- Sometimes I wasn’t sure, so at last resort, I increased the price and then marked it to be reduced for the clearance sale. That way it might sale at half price and I’d still get enough money to make it worth it to me. But if it sold at full price, all the better for me! (And that did happen for several items that I thought would not sell.)
Did I sell my items on clearance?
Tagging your items for clearance on the last day of the sale will help your items to be sold. I think. The reason why I say I think, is because . . .
I was very surprised at how many of my non-clearance items sold the last day!!
It seemed to me that there were new customers shopping on Saturday (the day everything is on clearance.) I figured many of these moms could be working moms or moms who could not come to the sale during the week. So they aren’t necessarily interested in the clearance items, they are just looking for deals in general. In other words, they will buy it whether its on clearance or not. To them, it is a deal either way!
Since I have only sold in two sales so far I can’t guarantee this will be true for you, but I will keep observing and post my findings as I continue with these consignment sales. For now, I plan to price my items at full price and only clearance things that I really desperately want to get rid of!
Get excited, because tomorrow I will post about what sold and what did not sell! Including specific prices for many items!! You might be as shocked as I was.
Other articles in this series that might interest you:
How I Prepared for My First Consignment Sale
How I Priced My Consignment Sale Items to Earn a Healthy Profit
What Sold and What Did Not Sell
How I Tagged My Clothes and Why I Decided to Buy a Tagging Gun
My #1 First-Time Consignor Regret
