Liquidation

How I Buy Auctions from Liquidation.com

Why buy auctions from Liquidation.com?

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www.Liquidation.com is a great website to source products from

I use liquidation.com to source all of my products currently for selling online.  I go to their website daily to look for auctions on two categories that I love.   You do not need a business license or special privileges to bid on their auctions.  Depending on the state, you might need to submit sales tax, but their website will explain which states. I keep track of the auctions through their watchlist feature.  I want to walk you through how their website works.

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  • eBay – Their auctions function a little like eBay’s auctions work.  You find the auctions you want and click into them.  You then submit a price that you’re willing to pay for the auction in the bid field.  Keep in mind this is for product cost only.

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  • Auction Costs – The other costs include shipping and buyers premium.  Buyers premium for any auction i’ve seen is 8%.  BEFORE you bid make sure to get a shipping quote.  You can click on shipping options below and click “get a quote”.  All you have to do is put in your address and if its a residential or business address.

COSTS INCLUDE THE FOLLOWING

Bid price + Buyers Premium + Shipping Cost.  In some states you’ll have tax added on.

  • Multiple Auction Shipping Costs – If you win multiple auctions you will have the ability to consolidate shipping costs.  I will call them and ask what my options are for lowered shipping costs.  Only if my auction shipping costs are higher than the minimums will I call and get consolidated shipping.  For me the minimums currently are $40 from Indiana and $86 from Vegas (I’m currently in Ohio).
  • Auction Sniping – Sniping auctions does not exist with liquidation.com auctions.  If you bid within the last 5 minutes of the auction ending then the auction will extend out 5 minutes.  There are some tips I use here.  I will wait until the auction is close to closing until I bid on items as if I bid too early then I just drive the price of the auction up.
  • Why? – I have tremendous success with auctions from Liquidation.com.  They are a great company to work with and supply great products.  Their manifests have matched against everything Ive purchased from them.  I know exactly what I’m bidding on and the quality I expect. ALWAYS check the manifests to validate what you’re getting.  Keep in mind there is some risk with purchasing “returns” as there will be some items that don’t work.  I have always been able to recoup my costs.

Secret Tip: Make sure their MSRP values match against the market value at the time.  Take the first few high priced items in your manifest and validate them in eBay.  There have been some times where their value doesn’t match against what they’re actually worth.

What are some concerns you may have in purchasing liquidation items?

My next blog will go through how I search for items and what I do to sell them.

-Chris

LiquidationOH@gmail.com