Enter the item’s original cost, years owned, and condition into the calculator to determine the suggested price for your garage sale.
Garage Sale Pricing Formula
The following formula is used to calculate the suggested price for items at your garage sale.
Suggested Price = Original Cost * (Depreciation Rate ^ Years Owned) * Condition Factor
Variables:
- Suggested Price is the recommended selling price of the item ($)
- Original Cost is the initial price of the item ($)
- Depreciation Rate is the annual rate at which the item loses value (e.g., 5% per year)
- Years Owned is the number of years you have owned the item
- Condition Factor adjusts the price based on the item’s condition (e.g., 0.8 for excellent, 0.6 for good)
To calculate the suggested price, determine the original cost, apply the depreciation rate over the years owned, and adjust based on the condition factor.