Sourcing Products at Auction Houses
Posted on March 20, 2008
The types of items that can be found at live auctions
The goods being sold at auctions can make some retailers truly giddy with excitement when they realize they've stumbled upon the deal of a lifetime. Unsold products from a fallen business or antiques from an estate can prove to be profitable merchandise for a small retailer. Here are some of the more commonly found items for sale at auctions
Store fixtures and office equipment- When a store or restaurant goes out of business, it typically sells everything in the store - including shelving, light fixtures, seating, tables, mannequins, phones, fax machines, copiers, printers, etc. Many times, you can purchase these items for less than 75 percent off the retail price. For a new business, this can be one of the best ways to save costs in setting up a retail storefront.
Unsold merchandise - At an auction, one store's failing can be another store's huge gain. For retailers who carry a variety of products, auctions can be a great place to find items at a mere fraction of their original wholesale price. Cartons full of DVDs, video games and electronics are popular finds at auctions; however, depending on the auction, you can literally find anything and everything for sale.
Antiques - For antique, curio and furniture dealers, auctions can be one of the best ways to keep a unique supply of items in your store. Many of the finds at these auctions can be marked up as much as 250%, making them true goldmines for any antique dealer.
How to find live auctions in your area
Most retailers would be surprised to know just how many of these live auctions are happening in their area each and every week. You can narrow your auction search by reading the auction descriptions to find out exactly what type of merchandise is going to be sold at each live auction. Here are some of the best ways to learn about what auctions are happening in your area:
* Classified ads in your local newspapers
* Yellow pages (either in print or online) under "Auctions"
* Online auction directories
* Online search for "auction" and then your city and state
If you've purchased items from online auctions like eBay but never thought of attending a live auction, you just may want to give it a shot. For a retailer who deals with specialty or collectible merchandise, live auctions can prove to have even more deals than online auctions.
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