You don’t need encyclopedic price guide knowledge to clue in when the goods might be overpriced. It isn’t an absolute science, and I have seen fair deals in all the following. But, over the years you notice patterns, and I’ve learned to proceed with caution when I encounter certain situations.
Lots of people are looking, but no one is buying
If the prices are good, you’ll see people clutching their picks. If all the shoppers are walking away empty-handed, overpricing is likely the reason -- assuming, of course, that some desirable merchandise is actually for sale, and not just 14 florist vases and a broken down lawnmower.
Seller tells you a family story behind every item for sale
It’s possible the seller fancies himself a super salesman, and thinks a colorful provenance will convince you to buy. Or, maybe not.
If you can’t glance at item without the seller swooping down to regale you with an anecdote about it, he’s probably still emotionally attached to the item. Emotionally attached sellers tend to have an overinflated view of an item’s worth.
Seller is hung up on original or retail price
Beware if you encounter any of the following:
- Seller tells you what he paid for item
- Seller tells you what the item would cost new today
- Seller attaches photo of identical or similar new item, along with the retail price, from a store’s website or advertisement
- Seller attaches photo of recent auction listing, along with price, on identical or similar item
Perhaps your seller just wants you to know what a good deal you’re getting, but if he’s comparing yard sale or flea market prices to retail or auction prices, the deal probably isn’t that good after all. I’ve found that most sellers who do this expect to recoup too much of their original investment.
You’ve seen the same items priced much lower
This doesn’t work if you’ve only seen one item at a lower price on one occasion. You might have encountered a real steal before. So, if you keep seeing the same cookie jar or stack of old postcards everywhere you go, start paying attention to the prices. Prices will always differ a little, but identical or very similar items should fall into a general range.
If you do find yourself shopping where a couple of familiar item are much pricier than usual, assume there’s a good chance the rest of the merchandise is also overpriced. It isn’t always, but be cautious.
Seller gets mad when you try to negotiate
No seller owes you a discount, and it is perfectly okay for the seller to refuse to negotiate. However, if you ask politely and your offer isn’t insulting low, it is odd for a seller to get angry. I’m less concerned about it at a yard sale, where you might just be dealing with an inexperienced seller. But, when a dealer gets angry, my inner alarm bells start going off. Haggling comes with the territory, and I always wonder exactly why the dealer is feeling so defensive.
Seller tells you incorrect facts about item
Once again, I’m far less concerned about this at yard sales, where the problem is more likely to be misinformation than malice. A professional dealer might even get it wrong once in a while. But, I’ve noticed that when I’m being snowed on the details by a pro, the prices are usually as exaggerated as the facts.
