Thrift store and resale shop prices aren’t always great deals.

Here are some examples of prices:

• Yarn purchased new at craft store on sale for 16 ounces of acrylic yarn – $5. Recently seen at a thrift store a semi-tangled, used skein of similar yarn  - $4. Not a bargain.

• A bargain is a bag of yarn with four 3 ounce skeins for just under two dollars. (On half price day, this was 95 cents so it was a real steal!)

• Stainless steel cream and sugar set with small tray – $5. Bargain. Plus being stainless steel this offers the added benefit of not needing polishing as with silver.

• When thrifting, books are a bargain if they are under a dollar for a paperback and two dollars for a hardcover. 

• A ladies lined rain coat with removable lining in very good condition – $12. Good price.

Thrift store prices are often lower than resale shops or consignment stores because they are less selective about their merchandise and basically want things to go. Even if some of the items are new, religious or veteran affiliated stores receive many donations and need people to buy so that they can restock the shelves.

Knowing the true cost of an item is important also when going to garage and estate sales. Also when you are on the other end of a sale, as the seller. If you don’t want to have too many items left over at the end of a sale, then you should definitely price your items to sell. 

Taking a trip to a regular store will give you an idea of the quality of items and what the prices are. This does not mean that you like the prices, but will give you an understanding of the quality. One drawback from thrift stores and garage sales is that larger items need to be moved from a place. I saw a large round marble table priced at $250 which would need to have professional movers come in and move it for you, but paying the movers plus the cost of the table would definitely be a great deal for the table. 

Bargain hunting can be hit or miss. If you know prices, then you can avoid the misses.

Trolling the shelves.

This past weekend I spent a whopping $3.72 on things at a thrift store. I bought an Effanbee doll from 1967, two bags of yarn, and two books. I like buying books at thrift stores because you find books that are old and possibly out of print or you can get a hard cover copy of a recently popular book that people have cast off. I saw several copies of David Brown’s “The DaVinci Code” in hardcover available for 70 cents with dust cover. Softcover books from the Mary Poppins series in very good condition were a mere 35 cents. Romance novels abound as a well as other paperback books. Blank journals – they are there too. Considering that you may buy a book for yourself for about the cost of two or three day’s worth of fines owing your own book is more satisfying.

For the hobbyists who like records – more and more people have been getting rid of records. I haven’t looked at the condition of the albums themselves, but there are many that are in great shape. The thrill of the hunt at a thrift store is also interesting. Searching for nice dinnerware, a silver plated tray or a bag of wooden name key chains – you can find them in a thrift store – CHEAP!

Yesterday I went with my mother to a couple of thrift stores. I gave up on the book section because, this was a last stop after shopping at a few places and the books were shelved three deep, behind boxes of other books and records.

Even if you are just looking for one type of item, say fat quarters for quilting, or 11 inch fashion dolls for an art project you can get better quality and often cheaper ones than if you bought brand new ones from the dollar store.

There are clothes, bric-a-brac and other goodies that can be found, but you have to look. Actually, the amount of time spent looking for an item is in direct proportion to the price. You have to search but then make a decision what you want because there will be other people who may want the same thing that you do. 

Thrift stores provide inexpensive entertainment and allow you to pursue a hobby for very little money. The cost of entry is free into a thrift store but you can definitely find some valuable treasures for very little money.

What does luxury really mean? Are the luxury goods worth the high prices?

 According to the Luxury Institute’s survey of over 500+ high net worth consumers:  “Superior quality (82%), superior craftsmanship (78%) and superior customer service (60%) are the top three requirements of a luxury brand. Yet, more than one-third of consumers say luxury brands are worse today than in the recent past on delivering superior customer service and on failing to have salespeople who are experts in their products”

Quality and craftsmanship are important for lesser brands as well. Customer service is something that began to wane in recent years though it is on an upswing to regain brand or store loyalty. I went to buy something at an office supply store the other day, and was met at the door by a sales associate who had nothing to do. Not only did he help me find the product on the shelf but also asked about other items I needed. Customer service is moving to the forefront again because many people in retail want to keep their jobs and appear indispensable.

Buying a quality item which is well crafted could be purchased via the internet even with some of the luxury brands or from some of the luxury stores. There is just so much that can be done when making an online purchase.

Even wealthy consumers believe that the prices of luxury goods are too high – “64% of wealthy consumers believe luxury goods prices are too high relative to the value they deliver.”

Brands that may not be considered luxury brands but have exceptional customer service, high quality and well-crafted products are in demand, though all of these components would also signal to me, as a consumer as well as others that the items would be reparable, well made and long lasting.

Luxury. Now the word has become synonymous in some circles with waste. Luxury does not have to be wasteful. Though since more people are spending more time with friends at home, they are also spending more money on their home. Money Magazine listed several household items that you might want. All of the items cost less than five hundred dollars. Depending on where you live, $500 is a good chunk of change – like almost a mortgage payment or monthly utilities. 

The luxury items that are being showcased are ones that I could really do without – a heated towel rack or  a counter wine chiller. The other suggestions such as a hammock for my yard would be too small for my balcony, ditto for an orchard.

Household improvements that could be made for low or no cost could be selling books or dvds (or other media) that you no longer read or watch. Either way you will have more space in you home. 

Don’t scrimp or buy the cheapest gadgets or items that you know you will use. Any item that you like but will not use, start saving for it and revisit the idea of the purchase. You might just want to pass on by it. If you like cappuccino but drink it only occasionally, then walk on by that stove top cappuccino maker and just treat yourself to one when the mood arises. You will save space in your home and keep some extra cash.

What we consider necessities and luxuries has changed since the economic downturn, The Pew Research Center has indicated that from those surveyed there have been some changes in what people consider a necessity. Luxury and necessity are relative terms depending on who you are and your situation but thinking about a serious purchase before you make it would be a wise decision in any economy.

…Nicholas Souleles of the University of Pennsylvania and David Gross of the consultancy Compass Lexecon calculated that the typical consumer unnecessarily spends $200 a year in interest payments by keeping a sizable stash of cash in savings or checking while at the same time carrying a credit-card balance. In our heads, the two don’t line up.

Time recently posted an article about the problem with credit cards – “The Real Problem with Credit Cards: The Cardholders.” This is true, spending is not the same for any two people. My credit card usage leans toward using my cards as cash. In my mind – paying interest is bad, earning interest is good.  I may not have the cash today but I will before the bill comes or I just don’t want to carry around a lot of cash. No problem. I can do a quick calculation and determine whether or not I have enough to buy what I want. For larger purchases, they are generally not spur of the moment purchases. Even so, making several purchases for $50-$100 can soon throw a budget out of whack – great interest rate or not.

The credit card problem debate is like the gun debate. Guns aren’t bad if you are using them correctly. Some people should never have guns and do not use them wisely. Even people who hunt for food with guns know that these instruments can do great damage. Credit cards are the same way – these are financial instruments that should be used wisely. Some people should have never ever, ever had a credit card in the first place.