Usually used in snow skiing or snowboarding. When a rider has a horrible wipe-out with clothing and gearspread all over the slope, looking like a yard sale.
When a skier/snowboarder wipes out HARD. Usually results in eqipment going one way, clothes and goggles going another way, and the actual person eating shit.
Guy 1 on the chairlift: Dude did you see that shit!
Guy 2 on the chairlift: I know man, poor guy had a complete garage sale.