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Liquidation & Closeout Buyers Guide

If you are visiting this site, we can safely assume that you are interested in buying Liquidation Merchandise. The question now arises as to how you ought to go about selecting among the many companies in the market. To facilitate your search, we have included an extensive list of companies and rated them in accordance with the testimonials submitted by their past clients (See “Liquidation Companies” above“).

Buyers of Liquidation Merchandise can profit greatly if they buy smart and buy from the right liquidators. Always be sure that when you purchase Liquidation Products or Closeout Merchandise that the items are being shipped directly from the Stores which they have been liquidated from. That is the first rule of thumb when making your decision on which company to buy from. Many Liquidation Companies out there Bring the items to their own warehouses and then cherry pick out the good stuff and reship them to the customers making a very high and quick profit.

You also want to be sure that when you are purchasing by the truckload that the truck will arrive with a seal on the truck which matches the seal on the Bill of Lading. This will ensure that no one has touched or tampered with the merchandise from when it was loaded until you receive it. Always try to ask for a manifest for the truckload that you are getting. Most times the actual manifests are generated at the time the loads are shipped since they are pulled from the warehouse for your order. Many Liquidators might pass off an old manifest as a current manifest to get you to order and then switch loads on you without you even noticing. Some older stores like Kmart, Kohls, JC Penney and Walmart do not always manifest their loads all together. They are still decent loads for your money. Home Depot, Amazon, Groupon, Macy's and Sears do however manifest every load that ships out.

Always expect some merchandise to be unsellable. Any Liquidation Company telling you that the truck is brand new is lying unless they put it in writing on the invoice. Most truckloads liquidated from the Department Stores are mixed with Customer Returns, Overstock and some Salvage. Some stores may have more salvage than others, so be sure to ask the right questions upon making your order. The ratios on a good load should be about 25% Salvage, 75% Sellable. Sellable means that it can either be new in the box, slightly used and repackaged, used in a beat up box, or new without a box. Obviously these numbers will vary from each load, and also is dependent on the customer's ability to sell. Some customers can sell even the salvage items for parts. Some customers can fix the damaged items and resell like new.

Department Stores VS. Online Stores. - Liquidations from an Online Store like Amazon.com or Groupon.com will always be much cleaner than truckload Liquidations from Department Stores such as Walmart or Home Depot. Reason being is that a customer that returns a product to a physical store, the store will then restock it, and it will be sold and returned 3 or 4 times until it is not presentable to display anymore and then Liquidated. An Online Store like Amazon.com will accept a return once from a customer and never reship it to another customer again even if the item returned was brand new at which point they liquidate the items. So the Cleanliness will always be better on loads from Online Stores.

For customers new to the industry or with customers starting a new store, you always want to your first Truckload to be of General Merchandise. This way you can offer a huge variety of different categories to your new customers such as Housewares, Bedding, Electronics, Toys, Lawn & Garden, Tools, Sporting Goods, etc. After your first load of General merchandise you can always decide if your second load should be focused more on one category like tools, or Housewares etc. Learn your customers. You'd be surprised at what sells best in your area. We have spoken to customers who have been selling Tools their whole life. One of the owners wives wanted to sell Ladies Handbags in the store. They sold so well for them that they turned their tool shop into a women's boutique stores. At the end of the day who cares what you sell as long as you make the money!

So Always be smart and buy your liquidations from the right company asking the right questions and you will be successful!

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