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Will the marketplace for used goods start to dry up  

post #1 of 21
10/6/08 at 9:02am
Thread Starter 
with the new focus on thrift? I have been reliant on buying virtually everything used for years now. Basically buying everything I needed for the house or kids at rock-bottom used prices. We have pretty much gotten to the point where we are buying things to replace broken things and not really needing anything new. However, it is starting to dawn on me that if people arent' able to charge as much, buy as much, gift as much, well then, hey, what are the yard sales going to look like? I think that I pretty much have my kids clothing needs set for a few years. But maybe I should grab some extra things that I use and replace every few years like toaster ovens, food processors, etc? I haven't bought any small appliances new in at least 10 years. Or much of anything else for that matter... I think it is possible that the used marketplace might actually improve for a while because people will be selling off things to pay off debt. But then it might get very, very tight.
post #2 of 21
10/6/08 at 9:33am
I presume that at LEAST kids clothes will be yard saled, still. They're gonna grow out of them ( no matter what) and most of the people I know who get rid of clothes do so because they're done having kids, and I expect that fact won't change. Plus, people may want to free up the money from the clothes for other things like food.

I was actually thinking it's possible that as the credit crunch tightens, yard sales (and ebay sales) might become more abundant as people try and sell off some of their less-useful things in favor of more useful things or mortgage or food money. Of course, depending on how long the crisis lasts, it could dry up after a while, but I guess you never know.

There might well be more people attending yard sales, though, so getting the "good stuff" might get harder.
post #3 of 21
10/6/08 at 9:36am
I think that probably for awhile (a year or two or more) there will probably be *more* used goods out there. If you have the room to store things and the cash to buy now, I guess it wouldn't be a bad idea to buy ahead.
post #4 of 21
10/6/08 at 10:12am
I am guessing it is the optionals like pizza ovens, George Foreman grills, smoothie makers, and the entire Sear's stocking stuffer department that will be the new items to go. Most people are not going to start shopping Goodwill for food processors. It is a skill that takes time which is just as scarce as cash right now.
post #5 of 21
10/6/08 at 10:43am
I wondered about this too, as we buy used a lot here. I think folks might actually not want to resale their stuff so easily as the market downturns.
post #6 of 21
10/6/08 at 10:48am
Where I consignment shop they are having record amounts brought in, and the racks are pretty consistently being picked clean of the good stuff.
post #7 of 21
10/6/08 at 11:03am
No, I don't think it will.

There is going to continue to be an increase in the number of boomers that pass away, and they have durable goods that can be sold second hand - furniture, clothing, dishes, etc.

Theoretically, some things might become scarce to purchase, like quality second hand children's clothing, but other items will become more available.
post #8 of 21
10/6/08 at 11:10am
I don't think a lot of people will shop thrift even if they should. They attach a stigma too and would rather use their credit cards. I haven't had great luck thrifting for my 6 year old recently, its much easier with the 5 and under set for clothes around here.
post #9 of 21
10/6/08 at 5:54pm
I do think we're going to see a big change in what is out there as far as thrift store finds. I think it will be harder to find clothes, small appliances and furniture in good condition, because people aren't going to be trading up or buying new as often as they have been. Even though elders will continue to die off (not the boomers yet -- good lord, they're only turning 65 at the upper end, ya'll!) I think that families are going to be less likely to garage sale or donate everything. I expect that they'll keep and pass down more of those useful durable goods for grandkids who might be starting their own homes or going to college, or just to replace old and worn out things in their own homes. I think the same thing is going to happen with kids clothes; people are going to hand down rather than donate.

So yeah, I do see the used market drying up in the semi-near future. Not completely, but certianly compared to what we're seeing now. And not because more people are shopping used; because there are less donations.

As far as what to do about it, I'd stock up and buy for quality, especially in purchases like clothing and small appliances and furniture. You want things that will last and last, at least until the economy stabilizes.
post #10 of 21
10/6/08 at 5:58pm
The trend I am seeing seems to have less to do with a decrease in items donated and more with an increase in thrift shoppers and a corresponding increase in prices charged for secondhand goods, especially at more "mainstream" thrifting establishments (i.e. Value Village/Savers).
post #11 of 21
10/6/08 at 8:19pm
I shop some thrifts stores, but mostly craigslist, yard sales, etc. I have seen a decrease in prices. People seem to be looking at their garage full of things bought on credit and deciding they don't need it after all.

nak
post #12 of 21
10/7/08 at 3:22am
I don't expect so-- I think there still were plentiful used goods in previous bad economies such as the 1970s.
post #13 of 21
10/7/08 at 9:43am
Here is an article from CNN about just this very thing!
http://www.cnn.com/2008/LIVING/wayof...l?iref=topnews

It talks about how donations have slowed while sales have sped up. Soooo, it seems there might be some drying up. Makes me wanna get to the thrift shop this week. Haven't been in a month or so!
post #14 of 21
10/7/08 at 10:45am
Quote:
Originally Posted by Belleweather View Post
I do think we're going to see a big change in what is out there as far as thrift store finds. I think it will be harder to find clothes, small appliances and furniture in good condition, because people aren't going to be trading up or buying new as often as they have been. Even though elders will continue to die off (not the boomers yet -- good lord, they're only turning 65 at the upper end, ya'll!)
65 is certainly an age that can start passing away from health problems. People at 50 can pass away of health problems.

Don't you know of anyone between the ages of 50 and 60 that have passed away this year?
post #15 of 21
10/7/08 at 11:00am
Quote:
Originally Posted by tumblingstar View Post
Here is an article from CNN about just this very thing!
http://www.cnn.com/2008/LIVING/wayof...l?iref=topnews

It talks about how donations have slowed while sales have sped up. Soooo, it seems there might be some drying up. Makes me wanna get to the thrift shop this week. Haven't been in a month or so!
Yeah, I live in a place where the economy has been very bad for the last four years (unemployment is 28% in my town). I can tell you that thrift stores are getting fewer donations and what they do get isn't nearly as nice as it used to be. Also, there are more people shopping thrift. Just to give you an idea, I stopped in at the end of month sale last week. Both parking lots were full and all of the parking down the side streets were taken up too. I waited in line for an hour to check-out. I've never seen it that busy before, and I'm a regular to the sale!

Also, there has been an interesting trend in yard sales here. Three years ago everyone was having big yard sales to make some money. This past summer, however, there are hardly any yard sales, and what they have to sell is junk. No one has anything left to sell, even if they are desperate for money.

This is what I've observed from the economic $h!t-hole of the US.
post #16 of 21
10/7/08 at 12:01pm
Thread Starter 
"Also, there has been an interesting trend in yard sales here. Three years ago everyone was having big yard sales to make some money. This past summer, however, there are hardly any yard sales, and what they have to sell is junk. No one has anything left to sell, even if they are desperate for money. "

This is exactly the scenario I was thinking about. I am currently seeing an increase in yard sales happening. So maybe when yard sales start again in the spring, I might expect the same but then a slow halt to the good stuff.

I am starting to realize just how "addicted" to consumer spending (at used prices) I actually am! It is not like I buy so much, but I really do enjoy those "wow"moments at the yard sale/thrift store where you find a really, really good score (like an entire box of Americal Girl doll clothes for $5 or the brand new Mixmaster for $20). Oh, well, we probably all have more than "enough" stuff anyway... But as long as there are yard sales going on this fall you may find me stocking up on kids clothes and Christmas presents!!!
post #17 of 21
10/7/08 at 5:29pm
Quote:
Originally Posted by llamalluv View Post
65 is certainly an age that can start passing away from health problems. People at 50 can pass away of health problems.

Don't you know of anyone between the ages of 50 and 60 that have passed away this year?
They CAN, but they're not statistically that much more likely to pass away from health problems or any other reason than people of any other age bracket older than 18-25 (who statistically tend to die a lot from "accidents" and doing really stupid risky things like driving drunk).

So the idea that baby boomers are going to start dying off faster and therefore there will be a whole bunch of stuff from their estates flowing into thrift stores probably isn't very realistic.
post #18 of 21
10/8/08 at 10:45am
Personally I think more people will start considering thrifting that hadn't before.. it will become more "norm"..

I also think people will be donating less, and reselling more often..

So i think you will still be able to pick up used items on ebay, craigslist, yard sales, but not so much at "thrift stores" that are non-profit that help the needy (like Salvation Army or church sponsored stores that fund food pantries, etc). So, again, the neediest will get shafted..
post #19 of 21
10/8/08 at 10:50am
I noticed this at a recent consignment sale. There was a lot of really worn stuff being sold, stuff that would probably have been donated before.
post #20 of 21
10/8/08 at 11:08am
Quote:
Originally Posted by Belleweather View Post
They CAN, but they're not statistically that much more likely to pass away from health problems or any other reason than people of any other age bracket older than 18-25 (who statistically tend to die a lot from "accidents" and doing really stupid risky things like driving drunk).

So the idea that baby boomers are going to start dying off faster and therefore there will be a whole bunch of stuff from their estates flowing into thrift stores probably isn't very realistic.
Are you talking about only THIS year? Because I am looking toward the long term trend - the next 10 to 15 years.
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