How to Buy Salvage or Liquidations

by Eve Frost - Updated September 26, 2017
Buy in bulk and resell at your own set price.

Have you ever wondered what happens to all the merchandise that never gets sold in the department stores? Most of it goes to discount retail markets for a last ditch effort to make money off of the products. Many items get pulled off of the shelves due to mistakes made when ordering them. Fashions going "out of style" get cleared away to make room for new styles. You can capitalize on these items and snatch them up for yourself for pennies on the dollar; you just have to know where to look.

Use your favorite search engine and type in the keyword "liquidations." Take a look at all the websites that pop up. See how each of these websites operate. Some are auction sites that allow you to bid on a "lot". A lot is a group of similar products grouped together by brand and type. In most instances this will be the most value for your dollar. Pay close attention to the auction and only bid right at the very end before the time runs out. This way you do not drive the price up too high and you will be more likely to win. Once you have been deemed the winner, place your order and make your payment. Get a tracking number in order to keep tabs on your shipment.

Check out a brick-and-mortar business that is closing in your town. Many retailers will liquidate their products and try to get as much money out of the leftover merchandise that hasn't sold yet. You can wait until the price is driven down to the minimum and risk getting the least desirable goods, or you can snatch up the "good stuff" before anyone else, at a considerably discounted price.

Grab your hometown newspaper, or one from a neighboring town and scan the "wanted" section to see if any businesses are having liquidation sales. You can also find local ads that may advertise an "everything must go" sale. Get you hands on as many newspapers from as many neighboring towns or cites you would be willing to travel to in order to find the best deals. Check a local book store or library for the periodicals you do not subscribe to.

Spend the weekend off scouting some yard sales. You will be able to find slaved goods here, and people desperate to turn a quick buck. Haggle a bit if you think you could drive the price down. The best time to haggle is toward the end of the yard sale, right before it closes.

Check your local listings for an "estate sale" .You will find salved goods that are up for auction. These sales are usually household items and furniture, maybe old collectibles and things of that nature. Keep an ear out for local radio station broadcasts. Some stations advertise liquidation sales, and allow you to subscribe to their email address, so they can send you notifications or live, local events.

Tips

  • See what kind of money you can make listing some salvaged or liquidated items on popular auction websites, or local community sites. You can even make a business out of buying low and selling to those who are looking for exactly what you have to offer.

About the Author

Eve Frost is a Virginia-based writer with a passion for writing creative Web content for various websites. Frost studied art and literature at Old Dominion University in Norfolk, Virginia.

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