Why are garage sales called “garage sales” yet they rarely take place in the garage?

I recently came across an advertisement for a garage sale that said “What would you pay for this?” No item came with a price tag attached to it; buyer’s were the one who decided how much to pay for it. There was no haggling or negotiating. The interesting thing was the person running the garage sale thinks he made more money doing it this way. People paid more for some of the junk than he would have priced it at.

How about marketing a house this way? “Look at the comps then tell us what you’d pay for it. All reasonable offers will be considered.”

What do you think?

I don’t think a seller would go for it, but it sure is an interesting thought…