Liquidation Terms And Information
The term liquidation falls under many categories. Some call it surplus, liquidated, distressed merchandise, salvage and more. Liquidation Customer returns- A customer buys a product from a retail store and decides they don�t want the product for some reason. Possibly it was a gift they didn�t want, the product didn�t work or whatever reason. The store will take the product back and usually won�t put the product back on the shelves to resale. They will sale the product to a liquidation company for penny�s on the dollar. The product may have no box, have missing instructions, missing parts, stains and scratches or, just doesn�t work. Liquidation Shelf pulls - Shelf pulls can be products pulled from the shelves to make room for new product, products that didn�t sale well, or pulled from the shelves to make room for the new season products. Such as winter products pulled off the shelves to make room for summer products. They can also be overstock meaning the store ordered too many of that product and need to get rid of some of the products. Shelf pulls can be brand new product and, samples. They usually have the price tag still on them. Shelf pulls are one of the better categories to buy when buying from liquidation companies. Liquidation Closeouts � These products can be new but last year�s models. They may have been placed on the shelves. They may be replaced with a newer model of that product. Closeouts can fall under shelf pulls, overstock, store closings, seasonal goods, out dated products. Displays and floor models � Display models are products out of the box where customers can look and play with the product. Many times you see computers and game consoles out on display. These products are also sold off to liquidation companies. These models may

have broken and missing parts, no box and no instructions. Refurbished - Refurbished products are usually used products or bought new and didn�t work. They usually cost a bit more to buy from liquidation companies. The warranty is only backed by the manufacturer if the product was fixed by an approved manufacturer repair center. LTL � Less than truck load. Usually up to 7 or 8 pallets. FTL � Full truck load. A full truck load is usually around 27 pallets. Pallet � Used to stack the products on. Usually made of wood and is made so a fork lift can easily move it. Hand Jack � Used to move pallets around. Way cheaper than a forklift. Lift Gate � A lift on the back of a truck used to lower products to the ground. Gaylord � Open card board box which holds products loose. Be careful with Gaylord loads, usually bad products. Manifest � A list of the products, and should have information such as retail cost, wholesale cost, number of items per pallet and more. Not all pallets have a manifest, and all manifests are not always completely accurate. The best time to buy liquidation products is January through March. January is the best month to get more variety and better prices. Liquidation companies get a lot more products in stock after the holidays and need to move the products fast and will do so at a cheaper price. Start off buying liquidation products slowly and only a few pallets at a time. Try to deal only with liquidation companies who allow you to visit their warehouse. Get all liquidators� warehouse addresses and Google it and check to see if it�s an empty field, a house. If you see no warehouse by Google satellite they are a broker and do not carry the product themselves and this will cause you to pay higher prices for your liquidation products.