Given a moduli problem posed using Geometric Invariant Theory, one can use Non-Reductive Geometric Invariant Theory to quotient unstable HKKN strata and construct 'moduli spaces of unstable objects', extending the usual moduli classifications. After giving a self-contained account of how to do this, we apply this method to construct moduli spaces for certain unstable coherent sheaves of HN length 2 on a projective scheme, which we call τ -stable sheaves. This extends a previous result of Brambila-Paz and Mata-Gutiérrez for rank two vector bundles on a curve.1 The convention that 'unstable' means 'not semistable' rather than 'not stable' is in some ways unfortunate, but by now far too well embedded to be avoided.