A liquidation sale is bad news for the companies that have to sell off their merchandise at prices well below the MSRP. It’s good news for bargain hunters though. Once the stock has been sold to closeout liquidators, those liquidators will then resell it to customers at a very low cost
More cynical consumers might consider such a sale as too good to be true; while there might be some pitfalls to navigate when wading through a closeout sale, there are many boons to be discovered as well. You just need to be careful and follow the tips presented here if you want your excursion to your local general merchandise liquidators to be a successful one.
Perform a Quality Check
In some cases, a retailer might want to get rid of a product because it is defective. In other cases, a product may end up getting broken on its way to the liquidation sale. No matter how it happens, there is always the possibility that a product being sold at a liquidation sale is damaged or defective.
Since exchanges, returns, and refunds are never a given, you need to carefully check each product to make sure that it is in working order. If you don’t, then what you thought was a bargain could end up being a waste of money.
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Not everything you purchase at a wholesale liquidation sale will be a bargain. That’s why you should check the prices of any items in which you are interested before heading to the sale. Comparison shop by checking other retailers, online stores, and wherever those items are sold before you decide to buy. In some cases, the deals available at a liquidation sale may not necessarily be the best deals available.
You may be tempted to grab every deal you see, but what’s on sale may not be what you need. Sure that discounted scuba gear is cheaper than ever, but are you really going to use it? You need to focus on what you really need, first and foremost. It can be hard to resist a good deal, but unless you’re planning to open your wholesale liquidation store, you should exercise some self-control.
Find Out About Return Policies and Warranties
Even if the product you buy is in good condition now, there is no guarantee that something will not go wrong with it in the future. If you are buying something and you are unsure of its longevity or reliability, then you should find out any warranty information that you can. Warranties are usually under the purview of the manufacturer rather than the liquidation retailer, so any trouble you may have is their responsibility. You should also try to find out about the scope of the warranty because there are some things the manufacturer will take care of and some things they won’t.
Use a Credit Card
In the case that a product ends up being defective and irreparable, and neither the retailer nor the manufacturer will do anything about it, then hopefully you paid for that item with a credit card. A credit card has consumer protection protocols that provide you with more options should you encounter a problem with what you’ve bought.
You can dispute any charges with which you are unhappy with your credit card company. So, you get more protection when using a credit card than when using any other payment method.
Use Patience and Caution When Navigating a Liquidation Sale
If you go into a liquidation sale and just buy everything that you see on sale, then you could end up wasting more money than you actually save. Use patience to closely examine the items in which you are interested, and use caution when you choose to buy them. That way you will have lots of rewards and few regrets when you finally leave the liquidation sale.