Your Fund: Selling items on Craigslist

This tutorial was written by my reader Vikki

Over the last year and a half as I’ve saved for family vacations, I’ve made hundreds of dollars cleaning out my house and selling items on Craigslist. The biggest item (literally and price-wise) I’ve unloaded was my daughters’ set of bunk beds ($325); the smallest, a fish tank and supplies ($10) after we discovered we weren’t cut out to raise goldfish!

What sells best? Too small (a single Buzz Lightyear toy) and it’s not worth the gas and the drive to save a few dollars over retail or a secondhand store. Too big (a minivan), and you’re competing with professionals like dealers. Throw a whole lot of items together (“many toys and games”) and no one wants to sort through it all for the one item they like.

My best successes have been single, medium-size items, like a corner cabinet, a camera, Little Tikes playhouse, or a keyboard. I sold each of these items for $60 to $100 within a day or two after listing them on Craigslist.

Pricing: Much like a garage sale, you can set any price you want, and negotiate. If you need a large item out of your home quickly, you’ll want to list a low price and accept one of the first offers that comes near it. If you have the luxury of patience, you can set your best-hoped-for price and wait to see if anyone makes you an offer. Doesn’t sell? Re-post with a lower price after a week or two.

Be sure to check out the Craigslist categories and decide where your item belongs. For example, the “baby and kids” section overlaps with the “toys and games” section. Find other items like yours and post in that area. Check out how much sellers are asking for items like yours .

Writing a good ad is one of the most critical steps.

1. Be specific: “Little Tikes Cookin Fun Interactive Kitchen” is going to attract more lookers than “play kitchen.” Electronics should have the model number; furniture should have dimensions.
2. DON’T WRITE IN ALL CAPS: It’s hard to read, and it sounds like you are yelling. Don’t use multiple exclamation points for the same reason!!!!!!!!!
3. Set up your sale item and photograph it from different angles in good lighting. Post as many photos as needed to show off the item’s selling points.
4. List your cross streets so a buyer knows if they are willing to drive that far. Sometime a bargain doesn’t seem like one if you spend $15 in gas to get to it!
5. Specify cash only. No exceptions.
6. The human touch: Why are you getting rid of it: Bought a newer model? Unwanted gift? Kids grew out of it? Make your ad stand out!

Safety first. Watch for scams. Craigslist has a whole section on “avoiding scams and fraud” and I highly encourage you to read it. You may get automated responses that just don’t read right. Ignore them. If something sounds fishy, trust your gut and wait for another offer. When you meet for an exchange, have someone with you that you trust, or meet in a public place like a restaurant.

Monitor the e-mail or phone number that you listed often after your ad goes live, Answer questions from potential buyers, and be honest about your item’s shortcomings – buyers know these items are in used condition. Be prepared to meet someone that evening or the next day if you are serious about selling something.

Hooray! Multiple offers?! Obviously best price with cash-in-hand wins. But what if you have two or more people who are willing to give you full price? I feel it’s courteous to give the quickest responder first shot, as long as he/she can produce the money and pick up the item in a reasonable amount of time. I also notify the “runner-up” that I have an offer on the table and ask if they want to be contacted if the first buyer falls through. It’s also good form to remove your ad from Craigslist as soon as your item sells.

Selling my personal possessions gives me mixed feelings – I was a little sad to see my kids’ outgrown Little Tikes playhouse drive away. But then I think how much someone else will enjoy it and build new memories in it. I also get a lot of selling motivation from seeing my house de-clutter and adding the money to my trip fund!

Be sure to check out all the ways to add to your fund!