Finding a job when there are practically none available has led to desperate measures for many middle class Americans. Weekend yard sales – also referred to as garage sales – have taken on an air of gloom. People are forced to sell possessions for cash to pay utility bills and buy food. Sales pop up weekly in residential neighborhoods with signs advertising the event posted for blocks in every direction.
Feeling the Sting of Hard Times
Front yards aren't the only places people are selling. Hardly a vacant lot can be found on Saturday and Sunday, where someone is not selling furniture, clothing, and other valued belongings from makeshift tables or the back of a car. The number of sellers has increased dramatically as economic hard times worsen. Some people have turned to flea markets to sell possessions and make ends meet for another month, renting table space in hopes the crowds – and the weather – will be favorable.
Many distraught persons are parting with prized possessions, selling antiques, family heirlooms, musical instruments, and classic automobiles. Parents and couples try to hide embarrassment as personal belongings lay exposed for potential buyers to examine. Children watch in despair as strangers scrounge and rummage through toys and family "valuables". In extreme cases, pets are put up for sale, as well as family vehicles.
CNN News reporters Wayne Drash and Henry Hanks, in their April 13, 2009 article "Hard-pressed for Money, Parting with Prized Possessions," describe the misery some sellers are going through: "The items range from beloved cars to jewelry to autographed sports memorabilia. In many cases, these Americans described parting with something so cherished that it almost felt as if they were losing part of their souls."
Where People Sell Belongings to Make Quick Cash
Electric and water bills come due monthly, and people need money right away. Selling online may take too long, considering some buyers are slow to pay up.
- Yard Sales and Garage Sales. Hold an individual sale in the front yard or neighbors can sell in groups.
- Flea Markets. Outdoor tables rent for as little as 10.00 a day. Crowds are usually larger before holidays and the start of school.
- Consignment Stores. Store owners set a price and take a cut when the item is sold – if it is sold. This kind of selling may take too long for the seller that needs money immediately. However, if one has a popular name-brand item, then it may sell quickly.
- Pawn Brokers. Pawn shops are swamped with electronics, jewelry, guns, and other popular salable items. If the item to be sold is unique, then selling to a pawn shop might be worthwhile.
- Video Stores. Many dealers buy used movies in excellent condition as well as game systems.
- Formal Wear Shops. Some shop owners buy back gowns and prom dresses at a reduced price. The items must be professionally cleaned and in excellent condition.
Fast cash means less cash, meaning items will sell for only pennies on the dollar. Items of sentimental value – wedding rings, for example – may have potential market value at a pawn shop, but selling cherished belongings may not be worth the emotional stress.
Selling Antiques and Collectibles
Know what is in your home before selling items that may have more value than originally thought. It's not uncommon to read stories where someone has picked up a priceless antique at a yard sale for a few bucks. The same goes for collectible items such as toys, coin and stamp collections, furniture and silverware handed down through generations. Get an expert opinion; have items appraised before selling to anyone in case there is a possibility of great value.
Desperate measures to pay mortgages and utility bills, to buy food, and stay afloat in hard times may result in one having to sell personal belongings, memorabilia, collectors' articles, family heirlooms, and even the family vehicle or pet. It's wise to have some estate belongings such as jewelry and furniture appraised by an expert before accidentally selling at a too-low price. Unfortunately, many people need cash immediately, so a hurried sale could literally end up costing the seller a fortune.
Mary King - Mary King is a Suite101 Topic Editor for the Caregiver Support and Home Management sections. She has authored 5 teen-based novels.
Join the Conversation