What went wrong? I just spent $3,500 on a closeout load of 35
pallets of major brand electronics,small appliances, and
housewares. I never even got the chance to have the sale! I
started going through the load and found a percentage of the
stuff broken! Unrepairable, Unreturnable...UNBELIEVABLE!
The last email I sent dealt with Drop Shipping basics. I know
you may be interested strictly in the Wholesale business. Since
both really do go hand in hand, this information is a necessity
when buying wholesale or closeouts! I found this out the hard
way! I had to buy a load consisting of some pure wholesale JUNK
before I called my seller a cried alligator tears! He quickly
explained what happened and then faxed me over a sheet of
numbers! Boy, I wish I would have gotten this sheet first! It
would have saved me a box of tissues and a bottle of Tums!
Here's what it stated...
Salvage Buyers Agreement
WHAT WE DO...The merchandise we sell is mostly store returns
salvage. There are no real fixed percentages of working or
non-working merchandise as people tend to return items for
various reasons...not all of which are because of damage or
defects.
To play it safe, consider your loads this way:
Approximately 30%(this percentage will vary) of all returns
loads will be out and out "Throw Away". (This % doesn't
necessarily apply to individual pallets- it is meant for a full
load.) This means they are damaged beyond reasonable repair or
it would not be "cost effective" to repair them. This is not a
problem in that you are paying such a small percentage of the
original wholesale value. You can easily afford to throw away
this percentage. The balance is considered Salvageable Goods.
This means it can be in various conditions including new, used,
working, defect in workmanship, missing a part, damaged
packaging or not working but worth repairing.
No two loads are alike and nobody offers any guarantees. Some
loads are absolute homeruns while others are out and out
stinkers. ALL LOADS ARE SOLD "AS IS"- NO GUARANTEES. At this
level(the source), there is no way to tell the good from the bad
as the only info we have to go on is a pallet count, a piece
count and a wholesale value. Some loads are manifested but we
have to get these manifests up front...they go with the load.
Now there is a happy ending to this story! After knowing this, I
went through and pulled my duds. After sorting, I still had a
very nice load that I went on to sell in one of my "Warehouse
Sales". I made a nice little profit too!
The moral of this story is...Keep the above percentages in mind
when buying wholesale and always be aware that you may encounter
a dud load from time to time.
The most important way to come out on top is to find a company
that you can trust! Don't be afraid to ask questions before you
buy! These people work fast but let them know up front, that you
don't plan to donate money to them just because you like them!
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