Loving Liquidation Sales

by Lori Sciame | March 31st, 2011 | Money Saving Hints

If you’re serious about finding bargains, there’s no better place to find them than at a store closing or liquidation sale. Although an unfortunate situation for the store owner, these going-out-of-business sales ease the stress on your pocket book. Furniture, groceries, clothing, books, CD’s, jewelry, and small home appliances are just a few of the items I’ve purchased for my family at these types of sales.

Shopping store liquidations can be overwhelming if you have never done so before. The following tips should help ready you for the experience.

1. No returns
Remember, the store is closing for good, so returns are not an option. If you are purchasing clothing, make sure it fits before you buy it. Also, if you want an item in an open box, determine if all parts are included. If something’s missing, you will not be able to return the item for a new one.

2. Price reductions
Each store handles price reductions differently, but for the most part, the closer to the actual “last day of sale,” the lower the price for the items. Most offer percentages off beginning at 25% and gradually moving to as much as 90% off.

3. Limited merchandise
Because the store is closing, you need to realize that the stock will not be refreshed. For example, if you really want that unique DVD collection, and there’s only two left on the shelf, it’s better to buy it now than to wait to see if the price falls any lower. On the other hand, if there are 50 sets left, it may be prudent to wait a few more days so see if the price falls again.

4. How much to buy
I’ve learned that I’ve never wished I hadn’t bought so much. In fact, I always kick myself for not buying more. For instance, a few years ago a local card shop folded. I bought an assortment of gorgeous wrapping papers, colorful bows, and refined thank you cards – all at 75% off. You probably can guess that the supply lasted only a few months!

5. Bait and switch
Be careful of stores who say they are going-out-of-business when they are not. Some stores will use this tactic as a way to drum up business!

My most recent “score” was while on vacation in New Orleans. While there I visited two Borders bookstores, and found books for personal use, as well as for gifts. I also bought greeting cards and CD’s. You might be able to take advantage of this opportunity as well, because on March 24th, an additional 26 Borders stores across the nation began selling off merchandise and store fixtures. Items now available include: “books in every category, including new releases, best sellers, textbooks, rare and collectible books and children’s books. There are also significant price reductions on thousands of music CDs, video DVDs and Blu-Ray, arts and crafts items, language learning systems, games, puzzles and more.”

A quick visit to the following website will let you know if there’s store closing near you.

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