Sourcing from garage and estate sales involves a broad selection of items with unique challenges and conventions compared to thrift stores. The location, time and duration of each sale differs. Terms of the sale are less structured and payment types other than cash may not be accepted. Price negotiation is common between buyers and sellers.
Pricing research is essential in garage sale and estate sale environments due to the variety of product categories involved, varying product condition, and identification of obscure items.
- Valuable items can be sourced at low cost.
- Items can be sourced in single or small quantities.
- Items can be inspected in person before purchasing.
- Price may be negotiable
- Small amounts of inventory can be stored at home.
- Sellers can specialize in certain product niches which are commonly available like china, collectibles
- Identification of obscure items can be challenging
- Item condition varies, complicating valuation
- Stock cannot be replenished (normally).
- Inspecting inventory and traveling between sales is time and effort intensive per opportunity
- Terms of sale are less structured than in retail environments.
- Payment types other than cash may not be accepted
- Location, time and duration of event differs by sale
- Requires immediate payment for inventory.
- Inventory requires storage.
- Challenging to scale upwards as business grows.