Sourcing Products from Liquidation.com
Does your business fit any of the following categories?
- Reseller or wholesaler: you buy products in bulk and resell them online or in physical stores
- Small business owner: you run a brick-and-mortar retail store, pop-up shop, or flea market stall
- Liquidation or discount retailer: you sell liquidation, overstock, or discounted merchandise
- Event procurement entrepreneur: you buy large quantities of items for specific events or purposes
- Enthusiast or hobbyist: you enjoy projects or hobbies that require large quantities of materials or specific products
If so, then Liquidation.com might be a perfect place to source your products. It’s an online marketplace that specializes in liquidation products, hence the name.
What are liquidation products?
Have you ever sold items at a bargain because no one’s buying them, and they take up too much inventory space? Those products are textbook examples of liquidation products. You’re willing to sell them for a tiny fraction of their original price to get rid of them but still recover at least a portion of your capital.
But that’s just one source of liquidation product. The liquidation products you’ll find on Liquidation.com come from various sources, such as:
- Closeouts: Products from a store that is going out of business or discontinuing a particular line of merchandise.
- Customer returns: Items that have been returned by customers, which might be in new or slightly used condition.
- Seasonal items: Products related to specific seasons or holidays that need to be sold off to make room for new inventory.
- Damaged or defective items: Products that have minor damage or defects but are still usable or sellable at a discount.
Pros and Cons of Reselling Liquidation Products
Reselling liquidation products has pros and cons. Understanding these can help you avoid risks and create a successful product-sourcing plan.
When I first got hooked on pallet buying (because liquidation products often come in pallets), I knew I was going to save and make a lot of money. What I didn’t realize at the time was that I could also enjoy quick turnaround and an almost endless selection of products. Because liquidation products can come from anywhere, you’ll find an item from just about every known category.
There had also been many times when my pallets were full of branded items, mostly in excellent condition. This is actually where I’m focused right now because the market for low-cost branded items shows no signs of shrinking. I’ll share a few tips on finding these products on the platform later.
Of course, my experience on Liquidation.com hasn’t always been good. There have been times when I had to deal with damaged and almost unsellable items, hidden costs, and inconsistent listings. Sometimes, I receive products that do not meet local regulations, which often leads to customs delays. But that’s to be expected since the condition of some products is beyond any quality inspection metrics.
Because each pallet may contain diverse products, sorting can be time-consuming. You need to develop an efficient sorting, storing, and packing strategy to have your products listed online immediately. The longer it takes you to decide which ones are sellable and which ones are not, the more money you lose. Even worse, you risk miscategorizing your inventory.
Also, like other liquidation platforms, Liquidation.com has no return policy. Once your order is shipped out, you can’t cancel or return it and get a refund. Your purchase is final, no matter the condition of the products inside the pallets.
What is Liquidation.com, and why is it so popular?
Liquidation.com is an e-commerce platform for surplus, returned, discontinued, and refurbished products. From electronics and clothing to home goods and tools, there’s a niche and category for every reseller.
There are two ways to source products from this platform. You can bid on them or purchase them at fixed prices. To save money, you can purchase large quantities at discounted prices. However, you need to create an account to participate in auctions or make purchases.
Evaluating each auction or listing is easy because sellers must provide detailed information, including the condition (new, used, refurbished, etc.), quantity, and any relevant notes or photos. Additionally, Liquidation.com verifies its sellers (major retailers, manufacturers, and other businesses with items to liquidate), ensuring that preliminary inspections are done to weed out subpar listings.
As for shipping, Liquidation.com provides various options, including freight and ground shipping, local pickup, and third-party shipping. The platform also supports multiple carriers to ship products to anywhere in and outside of the US fast. The shipping cost varies depending on location.
How to Source Products from Liquidation.com
The process may change as Liquidation.com updates its features and policies. However, for the purpose of this guide, I will share the current standard process.
- Go to Liquidation.com.
- Click the "Register" button found at the top-right corner of the homepage.
- Provide the required information, including your name, email address, and business details.
- Verify your email to complete the registration process.
- Log in to your account and browse through the various product categories.
- If you have specific products in mind, use the search bar to find relevant listings.
- Use filters to narrow down results based on product condition (new, used, refurbished), location, auction end date, and more.
- Click on a product listing to view details.
- Carefully read the title and description, which include the condition of the products, quantity, and any notes from the seller.
- Look at the provided photos to get a better idea of the product’s condition.
- Note the shipping options, costs, and delivery times.
- If you prefer bidding on the item, enter your bid amount and confirm. Monitor the auction to see if you remain the highest bidder.
- Consider using the auto-bid feature to automatically place higher bids up to a maximum amount you set.
- For listings with a fixed price, click the "Buy Now" button to purchase immediately without bidding.
- If you win an auction, you’ll receive a text message. Click on the checkout link in the notification or your account dashboard.
- Review the purchase details, including the total cost and shipping options.
- Complete the payment process using the available payment methods.
- Choose from the shipping options provided by Liquidation.com, or arrange your own shipping.
- Ensure the shipping address is correct and confirm the delivery details.
- Once shipped, you’ll receive a tracking number to monitor the delivery of your products.
Things to remember when sourcing products from Liquidation.com:
- You’ll be bidding on boxes or pallets, which means you might get a mix of products from different categories.
- Always bid an amount higher than the minimum bid.
- The buyer’s premium (an additional fee that the buyer must pay on top of the winning bid price for an auction) will be added to the total purchase cost and shipping fee.
- If you choose to get a shipping quote, Liquidation.com will calculate the costs if the products are shipped to your specific location.
- Pallets cost more to ship than packages, obviously.
- The retail prices in the manifesto may not align with the products so you have to check them one by one.
- com will send you a text message whenever someone outbids you to give you a chance to update your bid.
- If you win an auction and refuse to pay, Liquidation.com will charge you $200 or 15% of the auction price, whichever is greater.
Is Liquidation.com safe?
Liquidation.com has many features designed to protect buyers from risky transactions. For example, if you’re not satisfied with your purchase because it wasn’t as described on the listing and manifesto, this platform has a buyer protection policy that can compel the seller to resolve the issue. It also uses secure payment methods to protect your financial information.
Let’s also not forget that Liquidation.com only works with verified sellers, which helps ensure the legitimacy of the products. Sellers are also required to include detailed information about their products, and they understand that being honest in their listings pays off in the long run. The seller can even provide notes for transparency.
So is it safe? You can bet your arse it is. However, like in all other e-commerce platforms, there are risks you should be aware of.
For example, liquidation boxes can include items in various conditions, from new to damaged or defective. You can avoid them by carefully reading the product descriptions and condition notes.
Another is that some suppliers may require large minimum orders, which can be risky if the products don’t sell. My advice is to only choose suppliers with low MOQs. You can also try to negotiate terms to reduce the quantity required, but this often doesn’t work.
Lastly, shipping large or bulk lots can be expensive and time-consuming, and there may be delays. It’s always a good idea to factor in shipping costs when calculating potential profit and choose suppliers located closer to your business to reduce shipping time and costs.
How can I make more money using Liquidation.com?
Let me share a few tricks I use to maximize my profit when sourcing products from Liquidation.com:
First off, I spend hours doing research to identify high-demand products. Tools like Google Trends, eBay completed listings, and Amazon Best Sellers are my not-so-secret sauce.
When I was just starting, I was cautious enough not to start big because I knew the risks involved. I began with smaller orders to assess the quality and reliability of the products and suppliers.
But despite this, I made the most of Liquidation.com’s advanced search features, filtering by product category, location, condition, and auction end date to find the best deals. Indeed, this approach led me to some of the most interesting finds on the platform.
When I bid on a product, I determine my maximum bid before the auction starts and stick to it to avoid overpaying. My final bid normally incorporates shipping costs to ensure overall profitability. Then, I keep an eye out on the bids, especially in the final minutes, to place timely bids and nab a sure-fire win.
Maximize Profitability with Products from Liquidation.com
There are dozens of online marketplaces specializing in liquidation products—B-Stock, BULQ, 888 Lots, BoxFox—you name it. Even Walmart and Target have exclusive platforms for excess and returned inventory. Still, Liquidation.com stands out as the most reliable among them because of its massive inventory, secure payment options, and verified suppliers.
To maximize your profit using this platform, it's crucial to be aware of the risks involved and make the most of its features. With careful planning and a keen eye for detail, you can find high-quality items that yield significant profits. You can also create a foolproof bidding strategy that can win you these products.