What do you do when the seller at a yard sale says, “Make me an offer.” The Simple Dollar suggests taking a minute and applying the 10% rule.
If the seller says “make me an offer,” always say “let me think about it.” Then, do some quick research (if you can). Look for the price of the item on a retailer’s website, then figure out what 10% of that price is (just take that price and multiply it by 0.10 on your phone). Make that your offer.
This 10% equation is best when the item is in good condition. If it shows wear, you can even go down to 5%, and if it’s in great condition and the seller bargains, you could even settle for up to 20% of buying it new.
The full post at the blog has some other great tips, like going to yard sales on Sunday afternoons for the best deals or only looking for collectibles that you know well.
Seven Principles of Yard Sale Season | The Simple Dollar