Pricing your furniture to sell realistically from the start Posted on 12 Aug 19:13
Imagine you’re trying to sell some furniture ... maybe for a friend.
How do you arrive at a good price point? Here are seven helpful considerations:
1. EXPOSURE. Calculate your realistic exposure.
How many people will see your items? The more people who see it increases your chances of finding an interested buyer, right? How much foot traffic will come to a yard sale, realistically? Give it a good, ballpark guess. 15? 50? 100? That number is probably the main factor in whether your item will sell. How many responses do you conservatively estimate you will get online? Exposure is key.
2. TIME. Consider your time frame.
Do you have time and space to store this stuff for another 2 weeks or a month? What is your deadline to make it disappear? The longer you can hold onto it, the better chance a motivated buyer finds you. But time is valuable. If you are moving or need your space back, then your price should reflect that reality.
3. WORK. Think about labor.
How much energy is invested into moving the stuff? What about cleanup time? Delivery cost (fuel / truck / time / manpower)? Americans love convenience. If it’s easy, we do it. When you try liquidating several bulky furniture pieces, labor becomes a factor. Plus the energy that goes into responding to potential buyers, gauging risk, scheduling appointments, and dealing with no-shows.
4. SENTIMENT. Consider your emotional ties.
Emotions may not determine the final outcome. But emotions can not be totally avoided. People develop a history of interaction with their home decor pieces & furniture. That’s just human nature. Sometimes a piece represents a memorable relationship. It is hard to emotionally release some items.
5. DEMAND. What is the demand?
In your best estimation, does the general public have a strong desire to own this item? Single chairs do not have the demand that a set of 6 matching chairs carry. Are people buying retro-fabric sleeper sofas nowadays? Maybe college students will want it :-) How about those old entertainment centers where the doors close over the 30” tv? Nope! Why not? Huge screens are all the rave. When the demand is low … the price must be low also.
6. FLUFF. Asking above what you’d accept.
The top reason a house does not sell is the price is over-inflated / fluffed up. Finding that sweet spot of a realistic price up front is vital to selling success. In retail world, fluffing is adding “frosting” to the base price. Asking too much can backfire. There are two ways to deal with the natural instinct all buyers have to want confirmation that they got the best deal possible. First, the seller can clearly indicate the price is solid. “It is what it is.” Secondly, some sellers prefer to encourage haggling by asking for 20% to 50% more than what they’d be willing to accept as a final offer. It’s fine either way. Just clarify if the price is a ballpark / starting point or if the price is your realistic ending point. Some people like fluffing. Others like being solid. Everyone likes clarity. Don’t be afraid of the common shopper question, “Is this your best price?”
7. PLAN B. What about when it doesn’t sell?
Sometimes you run out of time to sell your furniture, or you need your space back. That’s where we come in. We buy acceptable furniture at wholesale. You get convenient removal service, the confidence of knowing it when to help a good cause, and some money in your pocket! We’d love to be your Plan B.
Simply snap shots of the stuff and text it to (219) 308-0905, along with your zip code. We'll get right back to you with a quote and a convenient pickup time!
Any additions or corrections?
Message us here: http://m.me/CommunityFurnishings
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