Great deals can be found in this economy, if you know where to look. A company in Fullerton gives retailers discounts on overstocked and returned items. Now there is a website, so you can cash in too ... digitally!
There is more than 117,000 square feet of leftovers, from crockpots to coin sorters. The products are overstocks and holiday returns, all sold at a fraction of their retail price.
Jesse Angel drove 2,500 miles to stake his resale claim. He will truck the goods back to Indiana, and sell space heaters for a profit.
"We do flea markets, Craigslist. We do about 50% of the original value. We'll get $750 back from it, out of something we paid $300 for," according to Angel.
A website launched to specifically cater to the small business owner: www.liquidation.com.
From appliances, to jewelry, the items are there because they're out of season, and just in the way. Now, they are sold online by auction.
Donnie Raimon buys 30 pallets a week to stock his brick and mortar store. He owns Tomacitos in Commerce, where you'll find everything from toilet paper to Waterford crystal; for cheap.
"I tell people we don't always have the same merchandise all the time, but you should definitely check with us first, because we might have the exact same product you're looking for, for about 50% off," according to Raimon.
Now Liquidation.com has a website for customers who prefer to buy things one at a time. It's called www.secondipity.com and it features the same type of merchandise.
"Secondipity.com is really for the end user. It's about people who want to get that iPod, or get a high definition television, or even a Cartier watch, and not pay a lot of money for it, according to Rob Caskey of Liquidation.com.
Company officials call it a reverse supply chain. Creating demand where there is none.
It seems to be working. There are 1.4 million buyers registered on the auction site.
But a word to the wise. If all this e-commerce has inspired you to open your own luggage store, just make sure to check the local rules. Sometimes, you will need a business license.