On a forum I frequent, the discussion turned to garage sales, and some people shared some horror stories. As someone who visits a lot of garage sales (I won't say how many), I've seen the ways people deal with some of the pitfalls.

In the interest of encouraging garage sales, I'll share what I've learned.

One problem is people showing up at 5 or 6 in the morning wanting to get in early. The best way to prevent this is to be vague about your address. Be specific enough that they can find it, but vague enough that they can't find it early. What do I mean? Don't say "2329 Jefferson" in your ad and streetcorner signs. Say "single-family sale, 23xx Jefferson." Then, when you're ready to open your sale, put a sign in your front yard and open your garage door.

The early birds can still show up if they want, but they'll have no choice but to sit in the car and wait for you. Only the people really, really serious about buying something will, and those are the people you want.

Lowballers are the other problem. I'll admit, I've asked for discounts before when buying large quantities of stuff, but I don't demand them. I see some people demanding discounts on everything, no matter how low the initial price is. I know that's annoying--I've actually had people running sales ask me if I'm interested in the same thing they're getting lowballed on, in hopes of selling it to me instead. I understand--garage sale prices are already pennies on the dollar.

The best tactic is to lower your prices late in the sale, say, after 10 am. Advertise that prices will be 25% or 50% off at 10 am, and maybe knock something else off at 11 am. When a lowballer tries to play games with you, just say, "no discounts until 10 am." They can come back then, assuming the item is still there. If they really want it, then they'll pay full price.

Do be realistic about your prices, though. I once went to a sale, picked out 10 items (unmarked) and asked how much. I was expecting $10, maybe $20 at most, based on what I pay at other sales. She asked $60, which is what I usually spend all day most Saturdays. I put half of the pile back, kept the half I desperately wanted, and somewhat reluctantly paid $30. I honestly doubt anyone else expressed interest on what I put back, and if it ever did sell, I'm sure she didn't get $30 for it.

If you don't know how to price something, visit a few sales a week or two before your sale to get an idea what stuff goes for. Leaving items unmarked and soliciting an offer encourages lowballers to offer 10 cents for things that ought to be priced a dollar.

Do keep in mind a significant number of people who come to your sale are looking for things to re-sell. They may have a booth at a flea market or antique mall, they may sell on eBay, or something else. You'll have some bargain hunters and curious neighbors, but most likely the majority will be resellers. Their profit margin isn't your main concern, but the general rule of reselling is that 3x markup is the minimum that works. If an item sells on eBay for $10, the most you're going to get from a reseller is about $3. The reason is because eBay is going to take $1.50 in commissions and the government is going to take another $1.50 or so in taxes. So the seller spends $3 to make $3-$4. But of course the seller would rather spend $1, sell for $10, and make $5-$6.

I've seen old Marx train cars priced at $50 at garage sales because the seller claimed he saw one just like it go for $100 on eBay. In the cases I'm thinking of, it's always been a very common car worth no more than $20, so I know the seller was either lying or mistaken. If you think you have something really special, my advice is to attempt to sell it on eBay instead. You're not going to get eBay prices at a garage sale.

If you don't want to hassle with eBay, take a name and number from anyone who shows interest.

One tactic I see sometimes (and my family used) is to advertise a sale as a moving sale instead of a yard or garage sale, in order to get better prices. Advertising a moving sale can allow you to get better prices for your highest-end stuff, like furniture or nice electronics or perhaps name-brand clothes in nice condition. But things like used toys and VHS tapes sell for about the same price no matter what you call the sale.

Some people post phone numbers in the ad. Unless the ad runs the same day as the sale, this is a mistake, as it's just asking people to call you and want to see your stuff early. There've been a couple of times that I couldn't find a sale, the ad had a number, and I called for directions and ended up buying a lot of stuff. But if you don't want people calling you all hours of the day in advance, it's probably not worth it.

Finally, I've seen people take out ads a week or two in advance of the sale. I don't see the point. Most circuit regulars don't plan beyond the upcoming Saturday, so placing an ad early just forces you to do a lot of explaining to disappointed people that the sale is next week. The best day to advertise is the Friday before. The day of the sale is often too late, as many people have already made their plans. An ad in Saturday's newspaper can draw in people who change their plans on Saturday morning, or people who plan spontaneously, but if you're paying for the ad, Friday is best.