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Planning ahead

Hello from snowy, Denver, CO!

Today is a good day to be thinking about your next garage sale. You might be thinking to yourself, “What can I do on a snowy day that would help with an upcoming garage sale?” Well that’s a great question that I’d like to take a minute to answer.

I’ve been stuck inside for most of the weekend, hiding out from the snowy weather and slippery roads. While most people see days like these as a time to laze around watching movies and catching up on your favorite television show, I see these days as the perfect time to begin preparing for a garage sale. I’m not going anywhere, so why not spend my time sorting through my things, combining a bit of early spring cleaning with garage sale preparations.

I spent most of Saturday afternoon going through my office and bedroom, and next on the list is the basement. As I go from room to room, I’m pulling everything out, making sure I actually touch everything – nothing is spared from the once over. If I haven’t used it in over six months or a year, it’s getting the boot. But I’m not going to actually throw out anything. No matter what condition it’s in or how bizarre it might seem, one person’s trash is often another person’s treasure.

The small Chinese pottery bowl that started as a $3 tag sale only to turn into a massive $2.2 million windfall at auction. Source: AFP/Getty Images

To give you a prime (if not extreme) example of this adage, while taking a break from my cleaning and sorting this weekend, I came across a New York Post article professing “NY family buys bowl for $3 – it sells for $2 million.” Can you believe that?! This family saw a seemingly ordinary bowl at a garage sale and purchased it back in 2007 for $3. After admiring it for many years, one of the family members decided to do some research (a true treasure hunter!). They soon found out that their ordinary bowl wasn’t so ordinary after all. Turns out, the bowl dates back to the 10th or 11th century and only one other piece exists today, and it’s in the British Museum collection. Sotheby’s estimated the piece would sell for between $200,000 and $300,000, but it wound up fetching a startling $2.2 million! (if you’d like to read the entire article, head here http://tinyurl.com/blokw4n)

I’m certainly not saying that everyone is going to find some hidden gem in their home, but you never know! Maybe something you’ve been sitting on is worth a pretty penny. And even if it isn’t, it might be worth something to someone else. The art dealer who purchased this bowl clearly wanted it since he was willing to pay way beyond the estimated value. On a smaller, more relatable scale, that trinket that’s been sitting in your closet might not appear to worth anything, but it might be worth something to someone out there. So don’t throw it out; sell it.

Go through every desk, closet, cupboard, basement corner and garage shelf and keep everything. And to add to that, if you’ve got something that seems unique, maybe take a minute to do a quick Internet search to see if it’s worth anything significant. You never know what you may find!

On another note, I just received an email from a follower who recently finished reading my book (thanks, Bob!). He had some really great garage sale tips to add to my repertoire, and I’d like to share a few of the pre-planning tips that you could start thinking about now:

Before throwing your garage sale, check with your town to see if you need a permit. If you do, see how far in advance you need to apply.
You should also check to be sure your town allows you to post signs throughout the neighborhood.
A few weeks or months before your sale (think now!!!) you should start saving paper and plastic shopping bags to use for your big buyers. They’ll appreciate the bag and it’s a great way to recycle!
Try to coordinate your sale with another local event. If there’s a festival or art fair in your town, try coordinating with that time frame. You’ll get a lot of out of towners that might notice your sign and swing by after they finish up at the festival.

Good luck, and happy hunting!

Aaron

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

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There’s nothing wrong with making a deal fun

About a week ago I stopped in at a local gun show – before I go any further, I want to throw out a quick disclaimer due to the current sensitivity surrounding guns and gun regulation. I went to the show looking for antique guns – the kinds that are meant to be displayed, not used. I mainly collect pieces from the 1800s or earlier, almost all of which black powder muzzle loaders. While gun shows aren’t exactly known for carrying these types of guns, I almost always find one or two booths that sell strictly antique weaponry, ie swords, guns and rifles dating back 100 to 200 years. In my opinion, these weapons played a huge role in our history, and I find them to be a fascinating historic collectible.

Continuing on to the real reason I wanted to share this story: how I was able to score a fantastic deal.

I found a booth with two beautiful vintage hand guns. I would have liked to own both, but really had my eyes set on the British VR Tower Pistol. The piece was from the early 1800s and I knew I had to have it; however, I knew I wasn’t willing to pay the asking price. So, as always, I started to negotiate with the seller. I asked for the best deal he could do and immediately said it was too high. He came back, asking what I was looking to pay and quickly stated that my price was too low. I could tell he wanted to sell the gun, but wasn’t going to let it go easily; and I certainly wanted the gun, but wasn’t willing to rise to his price.

So the guy gives me a look and says, “Son, are you a betting man?” I have been known to lay a wager from time to time, so I asked what he had in mind.

“You want this pistol for $375, but I don’t want to sell it for less than $475. How about we flip for it? I’ve got a silver dollar in my pocket, and I’d even let you call it. If you call right, you get it for your price. You call it wrong, you pay mine. Or we skip the coin toss all together, and I’ll give you the pistol right now for $425. If you decide to flip for it, there’s no backing out once it’s in the air.”

I thought about it for a minute or two and decide that I really wanted the pistol and thought it was worth the risk. So the man flipped the coin, and I called “heads.” We gathered around as the coin fell to the ground.

At this point we had attracted a bit of a crowd, and a little kid scrambled to the coin and yelled “It’s heads!” The crowd got excited and congratulated me on my win. I had won the gun for the price I had wanted.

I certainly don’t recommend this approach for every purchase – or even for any purchase – but I will tell you that this sale will definitely stay in my mind and I can bet it will stay with the seller as well. What’s even better, after our friendly interaction, the man and I developed a mutual respect for each other, and I can guarantee he will let me know when he gets a piece of interest in the future. We both enjoyed the transaction, and developing a relationship with both buyers and sellers is one of the most important components of being successful in this business. You never know when a seller might get in a hot ticket item you’ve been dying to get your hands on, and you definitely want to be the first person they call. On the flip side, you want have a list of buyers you can call when their favorite items wind up in your collection. No matter what side you’re working on, it’s always good to know that the last deal you completed was finished with a smile and handshake.

Good luck, and happy hunting!

-Aaron

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

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The last Twinkie on Earth

These days mark the end of an era for Twinkie lovers across the globe. Hostess has announced that it will be closing its doors, due in part to a baker’s strike. While this may be a sad day for you, I encourage you to look on the bright side: this could be a great money making opportunity! While this may be hard to believe, I encourage you to set aside your desires for the cream-filled treat and think about the situation that has come into light.

When a company closes down (or in more common fashion, stops production on a certain item/product) that company, and all of its products, are brought into the media spotlight. This creates a frenzy of demand, raising prices.

If you have the opportunity to buy a box or two of Twinkies, you might be able to resell them for a nice profit. If you check eBay, there are currently listings ranging from the standard cost all the way up to $2,500,000 for a 24 count box. And while it’s hard to believe anyone would pay into the millions for a couple of a Twinkies, if you search the completed listings, you’ll see that someone paid $10,000 for nothing more than a two pack of Twinkies and a two pack of Hostess Cupcakes. Shocking!

What’s also shocking is the price increase on Twinkies collectibles. Items such as lunchboxes and figurines tend to sky rocket in value in situations like these; and collectibles might be a better investment since, contrary to popular belief, Twinkies do not actually last forever, but only for a few months after packaging.

Now I must warn you that although this all seems like an unbeatable opportunity, be aware that these cream-filled delights will only be worth this much for a short while. As quickly as the value has risen, it will in turn fall. So if you decide to jump in the game, do so quickly. You don’t want to be the one holding the bag full of Twinkies when the clock runs out!

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The Garage Sale Millionaire in the Media

I’ve been quite busy these last few weeks and I’m excited to finally be able to share the reasons why!

I just returned from a trip to Los Angeles where I was filming a segment for the Hallmark Channel’s Home and Family show. I had a fantastic time with the crew and hosts Mark Steines (from Entertainment Tonight) and Paige Davis (from Trading Spaces). We set up a garage sale in their studio and went through the most important steps to ensure a successful event. I also spent some time discussing the process of valuing and pricing items by looking over a range of items brought in by the crew members.

The show will be airing this morning! - Check your local listings and be sure to tune in!

Continue reading →

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Rusty Treasures

Last weekend I had the pleasure of travelling to Hartland, Ohio to the Hartville Marketplace and Flea Market. Together with Hartville Marketplace, we threw a “Rusty Treasures” event, inviting people from the area to bring in any items or collectibles they might want appraised. It was essentially an Antiques Road Show event, but in this case, I was the appraising expert.

Watching everyone come in with their different items, I realized that no matter how much you make or where you come from, there’s a very good chance that you have something in your own home, or even in your parents home, that has an unexpectedly high value.

Some of the highlights of my recent trip was seeing a signed, original photo of Orville Wright flying his first plane ever. I also saw an authentic Confederate Officer’s sword, a collection art deco, Warhol-esque paper dresses and a tin toy plane that I estimated to be worth about $2,500. Everyone had their own unique and interesting story of how they came into their item – most of them not paying a dime. Imagine finding out that a vase or statue you’ve had sitting in the corner is actually worth several hundred, or even several thousand dollars. Your reaction would most likely match the one I received most often this weekend: “I can’t believe how much this is worth!”

Experiences like this weekend do nothing but reinforce my mantra to never give up looking in your home, your parent’s home, garage sales or any other great treasure-hunting venue to find that one item that could be worth a great deal of money. If you would like to have a similar event, please feel free to contact me. Whether you have a church, a marketplace, or would like to put on a fun fundraiser, I’d love to help you put on a successful treasure-hunting event.

Good luck and happy hunting!

Aaron

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

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Flea Market Finds

We’ve got a great group of fans on our Facebook Page who regularly submit photos of their favorite Flea Market finds from that week. Here’s a gallery of photos we wanted to share:

Want to know what these items are and what kind of bargains our fans scored on these treasures? “Like” us on Facebook and come join the fun!

Which finds do you like best?

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Being more tech savvy than your three-year-old

Have you ever felt that you’re behind the times in technology? I certainly do every time I see my three-year-old play with my wife’s iPad. He understands how to download new apps and play games…he uses it like he was born with it – which is more than I can say for myself!

There is a lot of technology available that can help a garage sale junky in their quest for the next best find. The trick is knowing how to use it.

Have you ever seen someone pull out their smart phone and wave it across a book or some other boxed item? They’re most likely using a smart phone app that reads the barcodes. A number of these apps can tell you what that particlar item is selling for on either eBay, Amazon or a range of other competitive websites.

This is a fantastic way to decide if it’s cheaper to buy the item online. It can also help a shopper decide if they can turn around and re-sell the item for a significant profit. Smartphone Apps prevent you from having to be an expert on every single item you come across. All you need is to be an expert on the up and coming technology.

So the next time you go to a garage sale, take a minute to download one of the many free barcode scanner apps and you too can be a high tech garage sale millionaire that’s grasped the technology of the 21st century.

Good luck and happy hunting!

- Aaron

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or contact him at thegaragesalemillionaire@gmail.com.

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Exploring WorthPoint

Have you ever wondered what the value of your inherited antique furniture is worth? Perhaps you have a great piece of art or a unique collection that you wish to insure and need to be able to provide accurate information on the items. It can be challenging to figure out where to start with a project like this. Figuring out who you can trust and if their experience will prove accurate is key. Fortunately the folks at WorthPoint are here to help you discover your hidden wealth – or if you have any!

WorthPoint is the leading online resource for collectors. The site provides market data on art, antiques and collectibles along with professionals who offer opinions and appraisals to help people value, preserve, buy and sell items. WorthPoint’s core feature is a vast database of more than 100 million sales records aggregated from eBay, virtual marketplaces and leading auction houses worldwide. WorthPoint licenses these items from eBay. This database, known as “Worthopedia,” features photos, descriptions and sales information to help people determine the value of their items.

One of the most awesome features that that WorthPoint provides is advice from “Worthologists,” — subject-matter experts who share their views on collecting through articles, blogs and webinars. These experts also provide item valuations through the “Ask a Worthologist” service on the site.

There are also Collectors’ Forums are available where people can share insight, advice and knowledge on everything from china to coins, toys and glassware.

So the next time you’re “cleaning” out the the attic, keep WorthPoint in mind, maybe you can identify some old treasures that have a new “hidden” value!

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Time-Saving Tactics

"These Beatles LPs are a perfect bunch to group. It's much easier to list them once than to research and price them individually."

I recently purchased a large collection of Beatles memorabilia. As I was going through it, I realized I had quite a large inventory on my hands. When you buy a collection this size, you have to take the good with the bad. This collection definitely had a lot of good items, but it also had a lot of things that are worth less than $20. I’m typically of the opinion that it is not worth taking the time to list each item individually on eBay, I prefer to group like items together and sell them for one lump sum. You might make a bit less money, but it’s definitely worth the time you’ll save. You will have to take the time to group out your items in a way that makes sense for buyers, but it should take you only a fraction of the time you would have spent listing each item on its own. As you’re grouping your items, be sure and take good pictures. People will still want to know what they’re buying, so you also want to list out each item in your description. Then all you have to do is sit back and let the bidding begin!

Good luck and happy hunting!

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or email him at thegaragesalemillionaire@gmail.com.

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Worth its Weight in Gold

Last week, a friend of mine approached me looking to have some of her gold and silver melted down. She brought me a combination of watches and jewelry that she thought contained some level of gold or silver. She wasn’t sure of the content since most of the pieces weren’t stamped. If an item isn’t labeled, it can be difficult to tell if it truly is made of gold or silver. There is, however, an easy trick that can usually tell you if your piece is gold or silver. Hold a magnet next to the piece; if the piece is attracted to the magnet, it’s not gold or silver. The majority of precious metals are not magnetic. There is a chance that the piece is gold plated, which would still attract the magnet, but it does not have a high content of gold or silver.

Even if your jewelry is stamped, you should know that 14K gold is only 58% gold. The other 42% is a mixture of different alloys. Pure gold is 24K, but it’s very seldom used in jewelry because it’s so malleable. In order to make the piece stronger they stick with a mixture of gold and alloys like silver and copper. So even when the piece is stamped 14K, it’s not pure gold. This is a good tidbit to keep in mind when not only selling, but when buying jewelry as well.

Good luck and happy hunting!

To learn more about Aaron LaPedis, visit www.thegaragesalemillionaire.com or email him at thegaragesalemillionaire@gmail.com.