Your garage could be worth thousands. One study estimates the average garage holds about $5,035 in resale value.
Start with bikes and tools. Bikes, gym equipment, tools, and camping gear typically bring the biggest payouts.
Sell smarter. Check recently sold eBay listings for pricing, and skip listing low-value items that aren't worth the hassle.
If your garage has become the catch-all for old bikes, tools, camping gear and holiday decorations, it may be worth taking a closer look before your next cleanup.
A new analysis by Alan's Factory Outlet estimates the average American garage contains about $5,035 in potential resale value, with used bicycles accounting for more than half of that total.
Researchers analyzed 1,680 recently sold eBay listings for 28 common garage items and found many homeowners are sitting on hundreds (or even thousands) of dollars in items they no longer use.
Start with your bikes
If you're looking for the biggest payday, check your bicycles first.
The study found the five most common types of bikes stored in garages have a combined resale value of $2,763, including:
Mountain bikes: about $848
Road bikes: about $837
Electric bikes: about $704
Other high-value categories include:
Gym equipment: $862
Tools: $612
Camping gear: $449
Holiday decorations: $348
Pro tip: If your goal is to declutter rather than maximizing every dollar, consider pricing your item about 20% below similar local listings. You'll sell stuff much faster and avoid days of back-and-forth negotiations.
Don't waste time selling everything
Not every item is worth the effort to try and sell. The researchers found 13 of the 28 common garage items they examined typically sell for $100 or more, making them good candidates for online marketplaces.
But lower-value items, think stuff worth less than $40, may be better suited for a garage sale or donation once you factor in the time spent photographing, listing, packing, and shipping.
Pro tip: Before creating a listing, check recently sold listings on eBay (not just asking prices). Sold listings show what buyers are actually willing to pay for stuff and can help you price your item to sell quickly.
Americans have a garage clutter problem
The study also found that many homeowners aren't just losing money, but they're losing usable space in their garages.
According to the survey:
62% say the garage is the most cluttered area of their home.
36% can't even park a vehicle inside because of the clutter.
52% are unhappy with how their garage is organized.
Pro tip: Try to time your listings. In particular, seasonal items typically sell best just before they're needed. This means listing camping gear in the spring, snow blowers in the fall, and holiday decorations a few weeks before the season begins to maximize interest.
Consumer takeaway
If you're looking for a simple way to bring in extra cash, start in your garage. Focus first on high-value items like bikes, tools, and exercise equipment, compare recent selling prices online, and skip listing low-dollar items that aren't worth the hassle.
A weekend of decluttering will not only free up some space, but can also put a few hundred dollars, or more, back in your wallet.