3 Tips To Save More At Liquidation Sales

Anytime a retail store goes out of business, they want to liquidate their inventory in order to pull in as much profit as possible. Liquidation sales present a unique opportunity for the public to score great deals at near-wholesale prices. Unfortunately, a liquidation sale can easily become a money pit if you aren't careful.

Here are three tips that you can use to ensure you are maximizing your savings at future liquidation sales.

1. Ask About the Discount Schedule

Most liquidation sales offer staged discounts. This means that the price of items left in the store will continually drop as the final day of operation approaches. Most store employees are more than happy to let you know the discount schedule if you take the time to ask.

Check the schedule to determine when the items that you are interested in will likely be marked at the lowest price. You will need to factor in the demand for the items as you look at the discount schedule so that you can find the right balance between savings and availability,

2. Check the Return Policy

It is common practice for all sales to be final at a liquidation sale. There are some exceptions to this rule, so you will need to ask about the return policy before making a purchase.

If the company is going out of business, they probably won't offer any type of returns on the items purchased through a liquidation sale. If the company is merely closing down that particular location, you may be able to return or exchange a liquidated item at a different location.

It's best to test every item to see if it's functioning properly before making a purchase at a liquidation sale. The testing process will help you avoid having to complete a complicated return. Testing can also prevent you from getting stuck with an item that doesn't work.

3. Compare Prices

Just because an item is included in a liquidation sale doesn't necessarily mean it represents a good deal. Be sure that you compare the liquidation price with the price of similar items at other local retailers. This allows you to wait until the item you are interested in has been discounted enough to create some serious savings before you make a purchase. By comparing prices on liquidation sale items, you will be able to spot the best deals available at any given time.