The Garage Sale Indicator

Gigaom.com writer Chris Albrecht recently contacted Craigslist to see if he could quantify his anecdotal evidence that the number of garage sales are up dramatically this summer.  While it makes sense that more people would be trying to raise cash during an economic downturn, it's still interesting to see. 

As shown in Gigaom.com's chart below, the number of garage sale listings on Craigslist were up 100% in May 2008 compared to May 2007.  That's a big increase!

click to enlarge

Comments

[steveross:]

Though I agree with the premis, couldn't the statistic just be a confirmation that craigslist is being used more?

2008 Jul 28 08:37 AM

[ubuy2w:]

Lies, damn lies and then there are statistics.

2008 Jul 28 08:58 AM

[user 2lakes:]

Only up 100%? Seems like more around here. Drove past a discount auto dealer yesterday, had 5 cars and about 75 SUVs and pickups on the lot.

2008 Jul 28 09:11 AM

[jazzkeys:]

That is a good point steveross. I guess the metric could be deflated by the increase in craigslist usage in general.

2008 Jul 28 09:21 AM

[mastiff0:]

Maybe a way of checking to see whether the increase in garage sales is due to thinner wallets or merely an increase in Craigslist usage is to break the garage sales numbers into different cities and areas of the country. A large difference in the % increase of garage sales in areas really hurting (say California) and in areas that have been less affected by housing and gas prices (Texas cities like Houston or Dallas) would help validate the theory.

2008 Jul 28 09:54 AM

[DaveW:]

Supportive evidence: the Pawn industry is thriving concurrently along with increased garage sales

2008 Jul 28 01:04 PM

[DaveW:]

Supportive evidence: the Pawn industry is thriving concurrently along with increased garage sales

2008 Jul 28 01:04 PM

[CaptBob:]

Even after the unneeded harvest of the consumption frenzy, now being sold off at garage sale prices are applied to the Visa mother that spawned it, the residual debt that grew in it's wake will leave the average American "Rich" in goods but liquidly impoverished.

With the cancer of his debt growing exponentially beyond his hope of repayment.

Will Hank and Ben give him a "Bailout" too??
Funny that the very Banks that are being bailed out with his taxes are holding his Credit Card debts at 20%+ interest.
What's wrong with this picture??

2008 Jul 28 01:06 PM

[lonie:]

If they hadn't pissed away the money on Chinese crap and saved the money they now wouldn't need to sell it for pennies on the dollar and we wouldn't be in such deep hock to China.

People create most of their own problems .

2008 Jul 29 04:33 AM

[Lynda:]

Hello,
Garage sale listings are up on another great Web site, too: GarageSaleGal.com where you can list & look for garage sales on line--anywhere in the country! The owner/operator is also a columnist on garage sales for the Arizona Republic newspaper and does garage sale segments on 3-TV's Good Morning Arizona!

2008 Aug 24 01:24 PM