‘Your Wallet’: Stay safe while earning the most money at Lincoln garage sales
LINCOLN, Neb. (KLKN) – Garage sale season is officially underway with advertisements popping up on street corners all across Lincoln.
Safety is important for anyone planning to hold one.
Officer Scott Parker, an investigator with LPD says to be alert for any new people walking onto your property and make sure to clearly separate things that are for sale from items that aren’t.
“Make sure you keep the money with you, whatever you have on yeah, don’t just leave it in a box or anything, make sure you have some other people there to help you.
And probably the biggest thing is, don’t let anybody in your house, if they’re asking to use the restroom or something like that, just politely decline in everything, because you can’t be everywhere at once.”
Other tips Officer Parker shared include keeping your phone close to you, speak with local law enforcement about conducting a quick patrol through your neighborhood, and keep an inventory of larger more expensive items.
He says, “You don’t have to get down to every specific item of clothing, but the big ticket items, you know, it’s probably wise to keep an inventory to make sure. Especially if it’s over multiple days that things aren’t getting up and walking off.”
Of course, if something feels suspicious make sure to contact your local law enforcement as soon as possible.
Once you have everything set up, it’s time to start selling. Dr. Jennifer Davidson, Associate Professor of Practice and Economics at UNL, says holding your sale on the weekend is likely the best way to attract the most customers.
She explains, “It probably makes sense to hold it on the weekend, because adults still probably have to work Monday through Friday. So you have more consumer potential on the weekend, when the majority of people are off of work.”
You can also advertise your sale on social media apps like Facebook or Craigslist to inform the people who live outside of your community.
When accepting payments, don’t limit yourself to cash. Try apps like Venmo or Cash App so customers can make digital transactions, which can greatly improve your revenue stream. However, these apps do come with a slight risk.
Dr. Davidson says, “Venmo is not FDIC insured, it is not a place to hold your money, but it is certainly making transactions easier. But then make sure you transfer that money into your bank account. Like don’t let it sit there.”
For sellers, experts suggest making prices visible with different color stickers and group similarly priced items together such as DVDs or video games. Set realistic prices, smile and be prepared to haggle.
Keep in mind that you’ll need a permit if you hold several consecutive sales at your home. They can be picked up from the Nebraska Department of Revenue.
For buyers, experts stress the importance of making sure items work before handing over any money, especially if you’re in the market for any electronics.
