Purchasing liquidation items can be a tricky task. It’s difficult to know where to begin and whether you’re being duped. Many things may be purchased for pennies on the dollar, but there are also numerous hoaxes that consumers fall for. It’s critical to do your homework and understand the difference between a scam and a legitimate deal.
The buyer should be aware of how difficult it is to locate liquidation bargains; even if you do, there is still a lot of research to be done. When buying from an unknown source, be cautious at all times because various frauds have taken advantage of many individuals.
Many Liquidation companies sell off products from bankruptcy or liquidation auctions. It’s not only the consumer that is confused, but also the administrators of the liquidation as well. There is a huge difference between a company that has gone out of business and a company that has been forced to go out of business through no fault of their own. So, in order to obtain the best deal without being duped, here is a step-by-step tutorial on how to purchase liquidation merchandise. –
Research the company you are looking to buy from. If they don’t have a phone number, address, or website- walk away. No matter how great the deal is, if there is no way to contact the company you can’t check to see if they are legit or not.
2. Buy directly from the merchant:
Buy directly from the bankruptcy companies instead of going through a middle man such as an online company that sells liquidation products. When you buy liquidation products from bankruptcy companies you will get more money off and have better deals.
Although, purchasing from a company you have never met is the most difficult and dangerous way of purchasing merchandise. If there is no way for you to contact the company or verify their legitimacy, it’s best to pass on this deal and look for another opportunity.
3. Take one step at a time:
Start small with liquidation purchases because it’s easy to overspend once you get started and see how much money you can save on high-end name-brand merchandise. If you’re only going to buy one item at a time, find something that you really need or is on sale.
If a liquidation company only has a few weeks left to go they will sell their merchandise off quickly. Take your time and weigh the pros and cons of each deal because there is no point in buying something you don’t need.
4. Educate yourself- before you buy:
Read up on bankruptcy, liquidation and the business that is going out of business. Understand all the potential problems with buying liquidation merchandise. Check out the company and the products they sell.
If you want to buy liquidation merchandise try to find a company that has been involved in the process of liquidation instead of a company that has just gone bankrupt or just started taking orders for liquidation merchandise.
5. Select Special days of the week to purchase:
Holidays, Mondays and Fridays tend to be the best days to purchase liquidation merchandise because businesses will have more money and people to sell off their merchandise at these times. Don’t buy liquidation merchandise on Monday if you shop at a department store.
Department stores are quick to get rid of their liquidation merchandise on Monday so if you need something fast it’s not the best day to go shopping for liquidation merchandise.
6. Study the sales and marketing pages carefully:
Sometimes you’ll see sales or advertising that sound too good to be true. However, if you check out the company’s website, it may be just a clever sales pitch and a scam. Real companies will have phone numbers printed on all their publications. Before buying anything you should always contact them through e-mail or via their website to make sure they are selling liquidation merchandise.
6. Get free report:
Always check out the free reports on the website first before making any purchases. These reports can save you thousands of dollars by spotting scams and fraudulent companies before they get a chance to steal your hard-earned money away from you.
Purchasing liquidation items is not difficult if you are fully informed about the procedure. Finally, while purchasing liquidation items, never be hesitant to ask questions. If you have any doubts about a product, phone the firm and inquire if it is genuine.
Never give out your credit card number since many fraudsters will scam you for it, even if you have already purchased the thing. We are confident that this post has been beneficial and will serve as an excellent reference for you in order to take adequate safeguards when purchasing liquidation products. Have fun shopping!