Do you know damaged and obsolete goods that can be sold? If you’re ready to liquidate your damaged and obsolete goods and inventory, then most of the hard work is already done. It’s not easy, and it’s certainly not fun, but it can be quite rewarding. Not only do you can learn more about your company, but you can learn about your market, your competition, and yourself.
Here are some questions you may have asked yourself:
- What mistakes have we made?
- What could we have done better?
- What will we do differently next time?
If you’ve asked yourself these questions, then stand tall, you’re moving in the right direction. Most business owners never make it this far.
The main thing is you’ve already done your research; you know that you need to act immediately, and you understand the importance of just doing it.
Now we know damaged and obsolete goods that can be sold. So, here’s the next step in the decision-making process once you’ve gone through the rest of the preparation:
- Do you want to participate in an auction, either online or off?
- Or do you want to hire a professional liquidation or salvage company that specializes in closeouts, overstocks, and surplus inventory to do it all for you?
Let’s go over these options so you can make a better decision.
Damaged and Obsolete goods that can be sold
Damaged merchandise that can be sold in a two easy way. You need to choose the right option for yourself. Here at below, we are discussing the two-simple process –
1. Surplus and Overstock Auctions
Online auctions seem to be the most popular solution, but there are many pitfalls that you want to be aware of, which we will talk about momentarily.
If you choose to participate in a surplus auction instead, there are several options available, both online and offline. You can, of course, try your luck on eBay, Yahoo, or any of the thousands of other online auction sites. You may have some chance, but in my experiences, it has been challenging to find individual buyers for large quantities and even harder getting paid by smaller accounts and dealing with the hassle of tracking down and keeping up with all the checks and balances.
And lastly, you can contact an auctioneer, who for a price would be glad to help you organize an auction offline. This could lend you a bit larger return overall but could take weeks or longer to set up and organize accurately, with no guarantees. However, this also has some similar pitfalls as an online auction that you should be aware of.
With both offline and online auctions, the major downfall is that you are never 100% sure of who the end user is and where your merchandise is going to end up. This can pose significant problems for brand and channel control. You are not entirely sure that your brand will be protected or that your merchandise doesn’t come back to be your next competitor.
2. Finding the right Liquidation or Salvage Company
This is my recommendation. Not only will they purchase your entire stock upfront, but they will also load it and remove it for you as well. If you can find the right liquidation company, you should also feel safe with your channel and brand control as well. For your “one stop shop” solution to problem inventory, finding a reliable liquidation company is the way to go.