There are many places you can go to find great deals on overstock and closeout bargains. Of course, you can surf online but you just might be one of the millions of people who still prefer good old fashioned shopping, Here are some options for finding bargains on obsolete stock, overstock and surplus merchandise of all kinds. Each has a different kind of closeout deal.
1. Discount Stores. It seems every block is filled with discount stores. Between Target, Dollar Tree, Walmart, Ross and all the independents, there is no shortage of surplus merchandise for sale. These companies all sell excess inventory from factories needing to clear stock from their warehouse. You can get deals on everything from sporting goods closeouts to obsolete stock of toys, housewares and home décor. Discounts can range from as little as 20% off to as much as 90% off depending on why the merchandise is getting liquidated. Many shoppers no longer visit regular department stores and will only buy surplus merchandise and overstock deals when merchandise is on sale.
2 Garage Sales. Don’t underestimate garage sales. These can be an excellent source of surplus merchandise left behind when people are relocated and move, downsize to smaller houses, or renovate their homes. Remember the old saying – one man’s trash is another man’s treasure. Sellers at garage sales often don’t know the value of what they have and the sophisticated shopper can uncover some amazing deals. And in the case of somebody moving, you can often negotiate low prices so they don’t have to take all their surplus merchandise and unwanted stuff with them. One of the biggest concerns during a move is getting rid of merchandise and other stuff that has no value
3. Flea Markets This is another great opportunity to find hidden treasures. Flea markets are often made up of two groups of sellers. There are the people who may have accumulated a lifetime of goods in their garage, basement, storage unit, etc. and finally get to the point where they just want to get rid of everything. The other group of sellers is a more seasoned vendor who has a permanent spot at the market and is a reseller, always buying closeouts and overstock from sources to resell. These sellers find surplus merchandise in the marketplace and bring it to the flea market where they resell it for a profit. Consumers love flea markets because it is a good way to find deals and have fun at the same time.
4. Warehouse Sales. Sometimes large companies will have a warehouse sale open to the public in an effort to get rid of surplus merchandise and obsolete inventory. This gives the average Joe shopper an opportunity to get wholesale deals on anything from lawn and garden products to baby goods to furniture and name brand closeouts. Often, large distributors will sell excess inventory at a public sale direct to the public so they can get more money for their surplus goods. If they liquidate to a wholesale closeout buyer, they will get quick cash, but not as much as if they sell direct to the consumer.
5. Estate Sales. Unfortunately, when an individual dies he or she may leave behind an entire estate including clothing, jewelry, automobiles, and other personal belongings. These are often sold at estate sales where the family just wants to get rid of everything. This is not the same as a large company that needs to sell excess inventory, but it is an opportunity to find bargains. Stories of $10,000 rings being sold for $500 are not uncommon. Or another possibility is buying name brand closeouts for pennies on the dollar. Believe it or not, there are professional buyers who frequent estate sales every single week looking for treasures of obsolete stock, discontinued merchandise, closeouts, overstock merchandise and distressed inventory. Many times these items are bought and resold again for a profit.