Buying And Selling Overstock Closeouts On A Budget

Ever wondered how you can buy returned Amazon goods for cheap? Wholesale liquidators and closeout brokers specialize in buying Amazon excess inventory. With so many people making returns for their online purchases, it’s likely that you’ll find some hidden treasures within these goods. In this article, we’ll tell you exactly where to find Amazon’s closeouts and returned goods so you can buy in bulk and collect the items for yourself. Think about where excess inventory and abandoned inventory come from. If you’ve ever sent something back to Amazon, whether it was the wrong size, broken, or the wrong item all together, it’s most likely gone into a warehouse and is being stored in a large pallet. When too much of this dead stock sits in the warehouse too long, it costs too much money in storage and has to be disposed of. Wholesale liquidators and buyers of excess inventory can come to your rescue and purchase your dead stock. Amazon groups hundreds of items together in 1 pallet and then sells them as bulk closeouts to recoup some of their money. Amazon usually sells the pallets to liquidation companies, closeout brokers, excess inventory buyers and overstock buyers who then sell the pallets to individual customers (like you!) Not all items returned to Amazon are sold. Some of them go straight to a landfill. However, Amazon has said that they are working toward a zero waste return policy, which means selling more and more closeouts.

Many people choose to sell most of the products that they purchase to profit off of their returned goods. Keep in mind that you never know what’s going to be inside of a return pallet, and most companies do not accept returns once you purchase one. Closeout brokers who are accustomed to buying excess inventory understand some deals may be better than others and some are easier to unload than others. To get the most out of your Amazon return pallet, be sure to check the listing details carefully so you know something about the dead inventory you are buying. It may include closeouts of housewares and sporting goods or they may be liquidating overstock lawn and garden products. Most sites will specify the quality of the products inside so you have a vague idea of what you’re getting. On most closeout websites, you can sort by category to choose the type of closeouts you’re purchasing. Most customers receive enough products to make back most if not all of the money they spent. However, it’s always a gamble and good wholesale liquidators are able to sell off most of the surplus inventory they buy.

When people hear the terms liquidation, inventory closeout, abandoned inventory or excess stock most will associate that with going-out-of-business sales. Sometimes this happens when a business closes it's 3PL warehouse or downsizes warehouses, but it also happens when a company has excess inventory taking up space in the warehouse. Although liquidation of inventory could signify the end of operations, it could also be part of a larger company’s reverse logistics plan. And for start-up retailers, discount store owners, flea market vendors, and online resellers, liquidation provides a great opportunity to turn a profit. Online liquidation sales and closeout websites create a huge opportunity for closeout warehouses selling everything at 50% off or more. Because when a business chooses to liquidate its inventory, it’s typically sold at a deep discount, and buyers can purchase these goods for pennies on the dollar.

The closeout process of buying liquidation pallets is relatively simple. In most cases, buyers can easily search for reputable liquidation companies or online auction sites, like B-Stock. Most online liquidation marketplaces require you to register to become an authorized buyer. With your resale certificate in hand, you just need to apply to specific marketplaces you’re interested in—like Walmart. You’ll want to register on the right liquidation marketplaces to fit your budget, fill your inventory needs, and turn a profit. Not all liquidation sales are equal; sometimes companies shut down their 3PL warehouse and liquidate an entire inventory for sale. Other times they may have overbought and have too much inventory in the warehouse. In both cases there is huge opportunity to buy excess stock for pennies on the dollar.

Following your research, you should search for sourcing options. If you’re looking to resell goods as a full-time business opportunity, liquidation pallets are the best way to acquire quality brand-name closeouts for a great price. However, we recommend choosing a reputable liquidation website that allows you to source directly from the retailer. Once you’ve found reputable closeout distributors to purchase inventory from, you need a resale certificate. That resale certificate makes it possible to purchase and resell abandoned stock and excess inventory as an authorized reseller. This certificate is necessary for reselling on sites like Amazon which has a brand registry. A brand registry is for those closeout companies that wish to have liquidation products sold only by authorized sellers. Next, you should also register for a seller’s account on the resell site you’ve chosen. Amazon is the most popular liquidator and closeout seller’s site, but it certainly isn’t the only one. When conducting your market search, try using terms like closeouts, overstock liquidation, wholesale surplus and closeout merchandise liquidators.

List your items with appropriate and competitive pricing. The best price is either at or just below market value. No matter what price you set, you must factor in shipping, taxes, and selling fees. If you’re selling on Amazon, consider shipping goods to an Amazon warehouse where they handle shipping for you. You may also decide to resell the merchandise at a flea market, thrift store, or via your own brick-and-mortar business or closeout website. Closeout wholesalers have discovered many other alternative selling avenues, all of which can be good and allow you to liquidate inventory for pennies on the dollar.

Purchasing liquidation pallets and finalizing your online listings are great first steps, but it’s just the beginning. If your goal is to generate long term business and profits, you’ll need to understand the steps for buying and selling liquidation pallets, overstock inventory and obsolete inventory. Our tips for successfully selling your liquidation inventory can be found below.

Set a budget if you’re reselling on an auction site or other closeout websites. Remember, you’ll need to have enough money to cover sellers’ fees, shipping, and acquisition. The same goes for the acquisition of inventory. You should always have a budget for what you’re willing to spend when purchasing to replenish your excess inventory. Make sure you know who you’re buying from. In the end, amateur resellers can’t afford to work with a supplier that will consistently sell damaged goods or not have a steady supply of liquidation inventory.

Do your homework! Check out the price of the product or similar closeout products on the retail market from other sellers. Doing this research will help to ensure you’re getting the best price in order to turn a profit. In a lot of cases, retailers are turning to top-tier liquidation companies, and it’s not hard to see why. Top-tier wholesale liquidators work in partnership with some of the country’s biggest closeout buyers such as Walmart, Target and Lowes. Merchandise USA specializes in liquidating excess inventory from businesses shutting down 3PL warehouses, downsizing warehouses and disposing of dead stock. We buy all closeouts of toys, housewares, sporting goods and overstock lawn and garden products.