Turn Your Clutter into a Cash Cow

(CBS)  Garage sales can be a great way to turn a houseful of odds and ends into a fistful of cash, and make your messy garage a gold mine.

On "The Early Show Saturday Edition," consumer correspondent Susan Koeppen shared pointers to help you have the best garage sale on the block.

She discussed what sells, how to price things to move, how to best display your wares, and how to get the word out. A first-rate garage could help you clear out your stuff and fatten your wallet.

Make Signs/Advertise

Let people know you're having sale. Put ads in the newspaper and online. Make sure your signs are big and visible, with arrows pointing to your sale. Check with your town to make sure there are no restrictions on when you can have a sale and whether you can post signs. Ask friends and family if they want to join, so you can advertise that it's a neighborhood sale or huge sale, with lots of big-ticket items.

Organize your items

Make sure you clean everything off, then group them. Set them up in nice displays -- clothes in one spot, electronics in another, etc. Line up your books and CDs and DVDs. Put your big-ticket items out front to attract attention, and if you have something like a vacuum cleaner for sale, make sure you have an extension cord and bring out a carpet so folks can test the merchandise and make sure it works.

Price your items right

Make sure people know how much things cost -- label everything with a price. To avoid guesswork, put individual tags on everything or have a big sign that says, "All books 25 cents." And price things to sell. Clothes generally don't sell well, so make them a great deal.

Be willing to bargain

People want deals when they go to garage sales, so be flexible with your prices. The last thing you want to do is put all this stuff back in your house at the end of the day. Make sure you can make change. So have a fanny pack and fill it with about $100 dollars in change and small bills. A couple of tens, a few fives, I like to have about 50 dollars in ones and then a roll of quarters, nickels and dimes.

GENERAL TIPS

Have boxes and bags for folks to cart away their goods after they buy them.

Before you sell your purses and coats, check pockets for cash you forgot about!

Sell bottled water and soda: You can make a lot of money, and folks on a hot day are eager to get a drink.

Make sure you take your signs down when the sale is over!