A lot of us frequent garage sales. After all, we know there can be great bargains to be had at them. But once you have made your millions – would you still go garage sale-ing? Why would a millionaire want to continue to shop at garage sales? Here are nine reasons they might!
To Find Bargains
Millionaires love a bargain. They didn’t get where they are by paying more than they need to for the items they want or need. They love to bargain hunt and save money!
To Hone Negotiation Skills
Millionaires negotiate constantly. Garage sales are one of the few USA venues where negotiation on the price of goods to be bought is expected. Bargaining to get the seller to reduce the price is fun, exciting and can help the buyer and the seller practice negotiation skills.
To See Other Neighborhoods
Millionaires often invest in rental and commercial real estate. One of the prime ways of finding the best properties is to get out and know the neighborhoods. Parking the car at a neighborhood garage sale and walking the neighborhood lets you legitimately into the neighborhood and gives you access to all kinds of residents to ask those questions you need answered about the location.
To Get Exercise
Millionaires like to use their time efficiently. Going to a neighborhood garage sale affords not only bargain hunting, negotiation honing and scoping out of real estate deals, but at the same time gives great walking exercise (assuming they don’t drive to each house!).
To Practice Re-use
Millionaires care about society and the environment (at least most of them do). Garage sales afford an optimal way to get access products to be re-used.
To Be Entertained Cheaply
Millionaires like saving extra money. Going to garage sales can be very cheap entertainment. They offer hours of fun on a pretty Saturday morning, all for the price of part of a tank of gas.
To Meet New People
Millionaires work with and through people. Going to garage sales provides the opportunity to meet people from a variety of walks of life and learn things about them.
To Save taxes
Millionaires love to save money on taxes – because they really do pay more in taxes percentage wise than the rest of us. Buying pre-owned things at garage sales is always tax free!
To Supply a Business or Hobby
Millionaires have multiple lines of income, including possibly multiple businesses. Some millionaires buy and re-sell goods. Going to garage sales typically provides the cheapest way to buy goods for re-sale on venues such as eBay, Amazon or at antique malls or stores. Some millionaires are designers. Going to garage sales provides access to many different ages and styles of goods and the opportunity to personally inspect them.
Do you go to garage sales? Why else do you think a millionaire would go to garage sales? Why do you?
5 Frugal Living Tips To Saving Money Living within your means isn’t easy with modern life, with many essential items we need to purchase just to get…
Do You Know a Millionaire Garage Sale-er? — 8 Comments
Love yard sales! You’ve got that right that it gives barganing practice and the chance to meet people. I have a friend who has a knack for finding deals and bargains at yard sales on stuff which is *not* on sale, like classic cars, RVs, and yard equipment, just by asking the person holding the sale.
Might also add that it gives the chance to see neighborhoods around your town that you might not otherwise get to.
Too true. It bites when you are the one selling the antique treasure without knowing the worth though. Years and years ago an aunt of mine sold some antique oval picture frames at a garage sale for a really low price. She talked about it for years afterwards!
Yes, garage sales are great opportunities. I know some well-off people who like to find antiques at garage sales to furnish their homes and use as gifts. They “trade up” by selling off their earlier purchases to be able to invest in better pieces. They enjoy learning any stories connected with the items as part of local history. When they retire they hope to open an antique shop for the fun of getting to know the people who visit. Although the market for antiques is down a bit in the recession, they are knowledgeable about current prices and continue to do well on their purchases. And they love to visit small towns for the garage sales there. Prices can be lower and the drive to the country is enjoyable!
Love yard sales! You’ve got that right that it gives barganing practice and the chance to meet people. I have a friend who has a knack for finding deals and bargains at yard sales on stuff which is *not* on sale, like classic cars, RVs, and yard equipment, just by asking the person holding the sale.
Might also add that it gives the chance to see neighborhoods around your town that you might not otherwise get to.
I want to follow your friend around and watch to learn!
I love garage sales! If you watch Antiques Road Show, you’ll notice that a majority of the items people bring in were purchased at a garage sale!
One man’s trash can be another man’s treasure!
Too true. It bites when you are the one selling the antique treasure without knowing the worth though. Years and years ago an aunt of mine sold some antique oval picture frames at a garage sale for a really low price. She talked about it for years afterwards!
Yes, garage sales are great opportunities. I know some well-off people who like to find antiques at garage sales to furnish their homes and use as gifts. They “trade up” by selling off their earlier purchases to be able to invest in better pieces. They enjoy learning any stories connected with the items as part of local history. When they retire they hope to open an antique shop for the fun of getting to know the people who visit. Although the market for antiques is down a bit in the recession, they are knowledgeable about current prices and continue to do well on their purchases. And they love to visit small towns for the garage sales there. Prices can be lower and the drive to the country is enjoyable!
Maggie, would you be one of those hoping to open an antique shop for the fun of getting to know the people who visit?
Marie, I don’t know a thing about antiques, so, no. A close relative is the one I’m thinking of. Thanks for giving me something to think about though!
I haven’t been to a garage sale in a long time but think I need to head out to them sometime soon just to see what there is where I live now.