GRR! "Liquidation""STORE CLOSING""GOING OUT OF BUSINESS" B.S.! archived
Jan 29, 2009 at 10:38am
We went to a Huffman Koos closing sale a few years back. We found a gorgeous dining set that was on sale for incredibly cheap; but unfortunately it had just sold. We went back a few weeks later, and there was the set! I went to the salesman to ask him the price and he quoted me a price that was 3 X what it had been a few weeks ago. I said WTF? Apparently they were buying furniture from other vendors that wanted to liquidate as well, or something of the sort. Made no sense to me, and walked out. I have never been to another one since. They are not bargains!
Liquidation sales sell merchandise at the price set by the liquidator, which is often considerably higher than the price the same item may have been set at immediately prior to liquidation. The liquidators' as middle persons need to make their profit.
Yes, the ugly reality is that it is typical to bring in going-out-of-business specialists as consultants, and to bring in lots of special merchandise to pump though a GOB sale at inflated list prices.
I walked through what is left in KB Toys the other day, and was amused at the crap that they had brought in to try to sell as GOB discounting. Same was true at Linens and Things(?) before the holidays. If you walk in and they have dozens of something left at "60% off" you can pretty well guess that this wasn't something that the store was selling before the GOB consultants arrived.
You really need to know your merchandise and prices if you walk into a going out of business sale!
I walked through what is left in KB Toys the other day, and was amused at the crap that they had brought in to try to sell as GOB discounting. Same was true at Linens and Things(?) before the holidays. If you walk in and they have dozens of something left at "60% off" you can pretty well guess that this wasn't something that the store was selling before the GOB consultants arrived.
You really need to know your merchandise and prices if you walk into a going out of business sale!
This is so true... know exactly what you want and what you should expect to pay before going into a liquidation sale.
I had a similar experience at Linens and Things' GOB "sale". One item I looked at had a Linens and Things-branded tag that listed two prices - a "regular" price and "our" price. The lower "our" price was blacked out with a marker but the price was still able to be read if you really looked... this item was in a bin that was "marked down" 30%... but the 30% off price was several dollars HIGHER than the blacked out "our" price from pre-liquidation sale days.
It's the liquidators running the show at these events and they will use every tactic to get you to part with your dollars...
I had a similar experience at Linens and Things' GOB "sale". One item I looked at had a Linens and Things-branded tag that listed two prices - a "regular" price and "our" price. The lower "our" price was blacked out with a marker but the price was still able to be read if you really looked... this item was in a bin that was "marked down" 30%... but the 30% off price was several dollars HIGHER than the blacked out "our" price from pre-liquidation sale days.
It's the liquidators running the show at these events and they will use every tactic to get you to part with your dollars...
The electronics and camera shops on 5th Ave in Manhattan used to have going-out-of-business signs ROUTINELY. It was a scam. Eventually, that was illegal, so they had going-out-FOR-business signs.
I suppose there's a way to fold your company and form a new one in order to have these sales. They do draw customers in, and some are ill-informed enough to assume the prices are low and don't do research to see that they are.
I suppose there's a way to fold your company and form a new one in order to have these sales. They do draw customers in, and some are ill-informed enough to assume the prices are low and don't do research to see that they are.
Posted By: joan crystalLiquidation sales sell merchandise at the price set by the liquidator, which is often considerably higher than the price the same item may have been set at immediately prior to liquidation. The liquidators' as middle persons need to make their profit.
Exactly the reason why I'm staying out of Circuit City!
I remember walking on Duvall Street in Key West and seeing signs that said "Going out for Business". They were the ones painted on sheets or poster board to look desparate. Its ususally the touristy shirt shops.
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We went to "Oscar Huber" (sp?) last night because they are "going out of business" and "liquidating" all their stock.
I am in the market for some nice (but NOT break the bank pricey) oriental rugs...
I was SHOCKED at the prices! I think I actually told my husband "they HAVE to be smoking crack, if they think people are going to pay $23,000.00 for a 3x5 rug!"
I am SO fed up with these "get them in the door" tactics! MY feeling is: Idiot NO WONDER you are going belly-up, your prices are out of line!
PS. I saw a grandfather clock by TY PENNINGTON there for 25k........... Ty Pennington designs for SEARS!!
I think they also "liquidate" crap from other stores that won't sell at these things.