Liquidation sales (also known as going-out-of-business sales) attract the crowds who are looking for rock bottom prices to kit out their homes or wardrobe. How can you shop for bargains at liquidation sales?
Beware of Discount Claims
Beware of outrageous discount claims where you are misled into thinking that everything at the liquidation sale will be a great deal. In fact, many liquidation sales do not start to significantly drop their prices until the last few days of the sale, when most of the merchandise has already been sold, and there is a last minute push to get rid of what is left over. If you can hold out for the last week of the going-out-of-business sale, you are more likely to bag a real bargain at rock bottom prices.
Buying Furniture in Liquidation Sales
If you are looking for a brand new three-piece suite or a new bed, search for any liquidation sales taking place in your area for the best savings of all. Buying furniture at liquidation sales can net you considerable prices off the original ticket price, especially if you settle for name brand pieces of furniture that need to be sold quickly. Wait until the last week of the furniture sale, and then stop by and see what is left.
Beware of Liquidator Tactics
According to consumer advocate Clark Howard, liquidators use a variety of clever tactics to deceive consumers into thinking they have bagged a real bargain. Howard states, “Liquidators bring in a lot of what I call phony merchandise. Most of what is sold at a going-out-of-business sale is stuff that was never sold in that store. They will do the classic mark up to mark down. They’ll bring in a whole bunch of goods with fake pre-tickets on them and then they will mark them down 30 percent or 50 percent. People think they are getting a real bargain and they’re not.”
Purchasing Items “as is”
Buying merchandise at a going-out-of-business sale poses risks for consumers. Remember that all sales that take place are final. While a manufacturer may honour the warranty on defective good, you cannot return defective electronics, stained furniture or broken appliances and expect to get your money back.
Shopping at liquidation sales can save you money if you shop wisely and at the right time. However, many items can be purchased elsewhere for a fraction of the cost. What is more, items that are purchased brand new can be returned if they are defective in any way, whereas you do not have that option at liquidation sales.
If you are bargain shopping at a liquidation sale, time your visit just right for the best deals. Merchandise is sold in an “as is” condition, meaning items cannot be returned if they are defective. Continue to shop around, where you may find even better deals than at liquidation sales.
MilSpouse.com, Don’t bank on Bargains at ‘Going Out of Business Sales’. Shop carefully for bargains, by Andrea Downing Peck.